Executive Council Business Meeting

June 8, 2013Bloomington, Indiana

FY13 & FY14 Financial Update

Presented to theIUAA Executive Council

June 8, 2013

FY2012-13 Financial UpdateAs of April 30, 2013

• Big wins with revenue sources• Membership• Above & Beyond annual giving• License Plate• Magazine Advertising

• Significant success managing operating costs

• Planned investment of one-time funds less than budget

Total Income Total Expenses $-

$1,500,000

$3,000,000

$4,500,000

$6,000,000

$7,500,000

$9,000,000

$6,238,42078.7%

$6,452,64172.8%

$1,690,21121.3%

$2,414,91927.2%

FY13 Budget

Apr 13 YTD

FY2013-14 Budget ProcessUniversity

Budget Process

• University Support• Other Initiatives• February 2013

IUAA Budget Process

• IUAA Operations • Dues Allocations • Salary Setting• April/May 2013

Finance Committee

& Board

• Total IUAA Budget• Strategic Investments• Review & Approval, June 25 & 28• Ongoing Quarterly Budget Reviews

Unified Dues Program

FY11-12 Fund Balance

FY12-13 Allocation

Constituent Societies $ 427,807 $ 375,000

Regional Campuses 175,984 40,800

Chapters 258,561 125,000

Affiliate Groups - 31,800

TOTAL $ 862,352 $ 572,600 Constituent So-

cietiesRegional

CampusesChapters Affiliate Groups

$-

$150,000

$300,000

$450,000

FY11-12 Fund BalanceFY12-13 Allocation

Key Takeaways:• Focus on Constituent Societies and Regional Campuses• Study/Deliberation/Consultation over the last year• Alignment of donor intent, IUAA responsibilities, and Chapter policies

Unified Dues ProgramConstituent Society & Regional Campus Proposed Next Steps

• No Change to Allocation Formulas for FY14• Utilize membership figures for March 30, 2013

• Adjust allocated funds based on each group’s June 30, 2013 fund balance. • Fund balance < 100% = full annual allocation• Fund balance < 200% = partial allocation adjusted for the amount by which

the fund balance exceeds the full annual allocation • Fund balance > 200% = no annual allocation

• Approval process for spending above the annual allocation amount

• Enhanced accounting to segregate future allocations from other income sources

• Communication of guidelines for utilization of dues allocation dollars

QUESTIONS?