A Message From the Vice President, Finance

摘要

Fiscal Year 2016 proved to be a financially challenging year. While revenue and income from operations exceeded our budgeted expectations, nonoperating factors combined to reduce our net asset position. Revenue for the year totaled $17.1 million, about $800,000 ahead of budget. Much of this increase reflected higher registration fee revenue, while lower dues revenue partially offset the improvement. Compared to FY2015, revenue was down approximately $500,000, reflecting lower gains realized on the sale of securities. Expenses totaled almost $17 million as the higher number of registrations increased the costs of seminars and conferences. Expenses were also affected by the costs to maintain the old headquarters building in Des Plaines, IL. As a result, ASSE's reported income from budgetary operations totaled about $167,000, nearly $495,000 better than budget. However, several nonbudgetary items combined to hurt our results.