September 2002

REPORT
of the
NSS SECRETARY/TREASURER

- Attachment E -

Overview

Since the June 2002 Board of Governors meeting we’ve:

• Posted on the NSS Financial Information page for down-load:
  • Updated NSS FY02-03 budget
  • FY01-02 Operating Fund Fiscal Report
  • FY01-02 NCRC Fiscal Report
  • FY02-03 May – July Fiscal Report
  • Recent detailed monthly expense reports
  • Updated NSS Fiscal Policy document
• Jerry Mercer Inc. visited the NSS office in late August pursuing their audit of our FY00-01 fiscal report
• Submitted request for extension for our FY01-02 NSS federal tax return. New due date is December 15, 2002.
• Continued preparing the FY01-02 fiscal report.
• Continued working on NSS office financial software requirements document for use in considering alternates to LedgerMaster and NSSTrak.
• Started FY03-04 budget process

Discussion

At the end of July our dues revenues were $3K below our FY02-03 budget projections and NSS Bookstore net sales revenues were $ 6K below the budgeted amount. Our expenses were $3K below budget projections. See the NSS Financial Information page for details.

The price for insuring NCRC underground training [about 25% of their cave rescue class] has increased 21%.

Other cave-owning organizations are seeing large increases in the price of their liability insurance when it comes up for renewal. The best quote to renew the Great Saltpeter Preserve liability insurance was over $5K. These increases may cause some to drop their liability insurance. While these organizations are independent of the NSS it is possible that in the event of a suit against them the NSS may be named as a party.

Current S/T Department Members and Agents of the Treasurer

Stephanie Cothron works almost full time performing NSS accounting and fiscal functions. Dave Irving helps Stephanie reconcile LedgerMaster accounting at the end of each month and develops fiscal reports. Ted Kayes prepares the NSS budget working with the officers. Kevin Smith leads our audit and tax return preparation effort. I lead all of the Department’s efforts and participate in all of the above activities and more.

Secretary-Treasurer - Paul Stevens
Chief Accounting Officer - David Irving (Finance Committee)
NSS Budget - Ted Kayes (Finance Committee)
NSS Audit and tax return – Kevin Smith (Finance Committee)
NSS Restricted Funds Accounting – Nancie Carrigan (Finance Committee)
Monitors – Werner Judd, Dave Lester, John Riley, Bill Stringfellow, Patty Daw
NSS Operations Manger – Stephanie Cothron
Insurance Committee - Ted Kayes (Chairman)
Personal Property Committee - Vacant

2002 NSS Convention Treasurer - Joe Levinson
2003 NSS Convention Treasurer – Amy Ponsetti
NSS Convention Bank Account Reconciler – Peggy Kesner

MCNP Cooperative Agreement Treasurer - Karen Dennis
MCNP Cooperative Agreement Bank Account Reconciler - Marilyn Walker

Caves & Karst Education Program Treasurer – Peggy Kesner
Caves & Karst Education Program Bank Account Reconciler – Cheryl Jones

NCRC Financial Officer – Kathy Welling [Bank Account Reconciler
NCRC Northeast Region Financial Officer – John Evans
NCRC Eastern Region Financial Officer – Steve Myers
NCRC Central Region Financial Officer – Anmar Mirza
NCRC Pacific Northwest Region Financial Officer – John W. Punches
NCRC Western Region Financial Officer – Mark Bowers
NCRC 2002 Seminar – John Evans
NCRC 2003 Seminar – John Punches

NSS News Ad Treasurer - Bert Ashbrook
NSS News Ad Bank Account Reconciler – Nancie Carrigan

Fine Arts Salon Treasurer – Wm Shrewberry
Fine Arts Salon Bank Account Reconciler – Marian McConnell

Junior Speleological Society Treasurer – Rick Bowersox
Junior Speleological Society Bank Account Reconciler – Ted Kayes

Corporate Bank Account Reconciler – Dave Irving
NSS Office Bank Account Reconciler – Nancie Carrigan
Credit Card Account Reconciler – Ted Kayes
Payroll Bank Account Reconciler – Nancie Carrigan
Restricted Fund Accounts Reconciler – Nancie Carrigan

Future Activities

Our priority between now and the next Board meeting will be to continue to process our financial transactions in a timely manner and provide timely reports. Other tasks include:

1. Obtain certification that our FY00-01 accounting records conform to Generally Accepted Accounting Practices and properly state our finances.
   
   
2. Complete preparation of our FY 01-02 fiscal report.
   
   
3. Award contract for independent audit of the NSS FY01-02 accounting record in conformity with auditing standards generally accepted in the United States of America (US GAAS audit).
   
   
4. File our FY01/02 federal tax return.
   
   
5. Complete the NSS office financial software requirement document and consider alternates to LedgerMaster and NSSTrak.
   
   
6. Continue to codify our business and financial policies and procedures. Seek to make it easier for the Board to transition our knowledge and responsibilities to our successor.

Paul Stevens
NSS Secretary/Treasurer