2021 November/December APTA New York Newsletter

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2021 November/December Newsletter

APTA New York Financial Overview

The APTA New York Board of Directors (BOD) approved the 2022 budget without amendment at their fall meeting on October 16th. The formation of the budget begins in early summer when our executive director, Kelly Garceau, and bookkeeper, Lin Morin, estimate the expenses for the leadership and committees to compile a rough draft budget. The Finance Committee (FC) then meets later in the summer to create a draft of the budget to be posted for comment and submitted to the BOD for approval. The current FC consists of the Treasurer, Mike Huson as chair, and members William O’Keefe (Long Island), Alanna Pokorski (Western), Kyle Adams (Central), and the President, Peggy Lynam (ex officio). In regards to dues income, 2020 ended quite strongly after a dip in the second and third quarters because of the pandemic. We finished 2020 with $103,000 surplus, mostly due to the suspension of all in-person meetings. In light of the surplus, the BOD approved multiple overages for the 2021 fiscal year in order to reimplement funding for many of the budget lines that were defunded in the 2021 budget. These included, but are not limited to, staff raises, the President’s stipend, PAC funding, speaker honorariums for the virtual conference, and funding for a hybrid fall BOD meeting. Dues income in 2021 has been a roller coaster. We expected similar fluctuations as 2020 with a strong first quarter, dips in the second and third quarters, and a strong recovery in the fourth quarter. Continued on page 5

APTA New York | November/December, 2021

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2021 November/December APTA New York Newsletter by APTA New York - Issuu