This DPA Treasurer's Report was presented at the DPA
Mid-Year meeting held on November 5, 2011. I especially
appreciated timely assistance and revisions to this report by
Norma Newby, DPA Division Manager. I also appreciated
receiving the accounting data from Bryan Haws, CPA and
Accounting Manager at AAPG Headquarters.
Table 1 shows the DPA Income and Expense Statement
for FY 2011. This data, as of the date of this report, is still
unaudited. The yearly audit is underway and it is possible
that slight changes to this spreadsheet may occur. The DPA,
for fiscal year 2011 is showing an income of $121,866 which is
approximately 13% less than the budgeted $140,650. The main
reason for the short fall is significantly less than budgeted
income from service fees and meetings and conventions.
From the expenses side of the yearly figures, DPA is
approximately 16% under the budgeted expenses. Certain invoices
from the past administration may not be "through the system" and this
figure may increase. The 2012 Budget is presented for review as part of Table 1. The budget was
approved at the previous DPA board meeting in Houston.
Table 2 is a summary of the DPA Investment Portfolio for the
period July 01, 2010 to June 30, 2011 (the previous fiscal year).
The fair market value was up approximately $108,000 from its
beginning balance of $539,314 to $647,313.
Table 1: DPA Financial Analysis Budget vs. Actual FY 2011 - FY 2012
Fiscal Year |
FY2012 Budget |
FY2011 Budget |
FY2011 Actual |
Operating Income |
$138,650 |
$140,650 |
$122,866 |
Operating Expenses |
$202,932 |
$195,382 |
$164,417 |
Gain (Loss) |
($70,282) |
($54,372) |
($42,551) |
Table 2: Fair Market Value of DPA Investment Portfolio FY2011
Quarter Ending |
June |
September |
December |
March |
June |
Fair Market Value |
539,314.01 |
566,181.95 |
615,783.76 |
646,541.51 |
647,313.37 |