Executive Director's message.

Castelvecchi, Henry

Executive Director's Annual Report to the VAHPERD Board of Directors

May 31, 2013

Operating Budget

This year VAHPERD reached approximately 90% of its estimated income. American Heart funds, Convention, and Membership continue to be the top 3 income sources for the Association. With the continual decline from the American Heart, the board should search out for additional income to fund the operating budget of the association. This years expenses exceeded income by approximately $20,00f. Transferring money into our operating budget from our investments covered this excess. This overage was expected from the board. Areas that were over excessively over budget were 1000 Governance, 309 Committee Travel, 901 Bank Fees, 902 Copying, and 916 Legal Services. These overages came from meeting fees and insurance fees from board meetings, increase in adhoc committee travel, and legal services related to the preparation of nonprofit paperwork.

Overall the association lost $19,866. Thus loss was covered by the association investments. With recommendations from me Executive Director and the Finance Committee, more funds should be available in the future to transfer into the operating budget without diminishing the base of the investments.

Investments

The investments continue to do well. This has benefited the association by being able to use money from the investments to cover the operating budget. The board should continue to be careful pulling money out of long-term investments to cover the operating budget. The board should consider the recommendations of the finance committee on keeping a base of money in the long term and working with the interest made on the base. The Executive Director and the Finance Committee will continue to work with our investment firm to make recommendations to the board.

Membership

Membership is down slightly from last year. At the end of the year the membership committee was working on promotional ideas to try to increase the number of members. The Executive Director has also been in contact with sponsors with ideas to partner to be able to offer more benefits to the teachers and potentially increase membership.

Respectfully submitted

Henry Castelvecchi Type May 31, 2010 May 38, 2011 May 31, 2012 May 31, 2013 Short-term $76,359.49 $67,477.92 $38,376.15 $28,681 Investments $495,081.56 $88,724.96 $60,640.58 $648,676 France Mays $6,518.11 $6,713.41 $6,786.60 $6,843 AIAW $29,120.89 $30,704.33 $31,492.17 $32,178 $607,134.30 $693,590.62 $637,295.50 $716,378 Type May 31, 2010 May 31, 2011 Students 273 308 Professional 451 4133 JRFH/HFH Coordinator 647 602 Retired 7 14 Lire 474 148 Library 2 3 Total 1527 1625 Type May 23, 2012 May 31, 2013 Students 308 260 Professional 4140 420 JRFH/HFH Coordinator 647 626 Retired 6 12 Lire 108 103 Library 3 2 Total 1567 1484