APICS Financial Report

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APICS Financial Report

• Joseph F. Shedlawski, CPIM,
• Secretary/Treasurer
• March 6, 2004

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How do Assets increase when Operating Expenses
are greater than Operating Revenues?
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Answer Investment Income!
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2003 vs. 2002

• Revenues were 64,000 less
• Expenses were 638,000 less
• Net Loss from Operations was 575,000 less

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• We cant count on investments
• (We lost almost as much in 2002 as we made
  in 2003)
• We cant cost-cut our way to prosperity
• (Expense reduction has been exploited in 2002
  and 2003)
• We must increase our revenues
• (Cash flow is being impacted by 2003 results)

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APICS Revenues come from four major activities
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Sales Contribution
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Certification and Membership
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APICS 2004 Approved Budget
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Gross Revenue
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Contribution Margin
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2004 Budget
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APICS 2004 Finance Committee Deliverables

• Process to allocate budgeted funds through
  implementation of the new Strategic Plan and
  transition to a new organizational structure
• Priorities for plan implementation and goal
  achievement
• Improved and adjusted financial reporting to
  serve the new strategy and structure
• Robust audit and control processes