NCMA - FY 05	STATEMENT OF ACTIVITIES  AND COMMENTARY FOR DECEMBER 2004
	EXECUTIVE SUMMARY
The results for December are summarized as follows:
		Actual	Budget	Variance
Revenues		522,740	475,248	47,492
Expenses		466,429	440,050	(26,380)
Net Income - pre investment income		56,311	35,198	21,113
The favorable variance in December revenue results from better than budgeted performance in Communications (CM Magazine, NCMA Jobs.com, and Buyers Guide),
Education (NES) and Meetings (GCC -see below).This favorable variance is offset by adverse variances in Membership (Corporate) and Education (Audi Seminars, Learning Center.
and e-Learning.)
The adverse variance in December expenses is primarily the result of higher computer management expenses, temporary accounting assistance, and higher
variable costs associated with higher revenues. These higher costs are partially offset by the deferral of certain Membership, Certification  and lower variable costs on certain lower
revenues (Corporate Memberships)
The results for the GCC conference which		Actual	Budget	Variance
are included in the December numbers above
are as follows:	Revenues	248,115	235,775	12,340
	Expenses	109,603	104,531	(5,072)
	Net Income	138,512	131,245	7,268
	Net Income %	56%	56%
The favorable variance on GCC Revenues arise from a slightly higher number of paid registrants - Actual 391, Budget 389 and higher than budgeted Exhibit and sponsor revenues ($12,130)
The adverse variance on expenses is a result of higher hotel Food and Beverage and Audio Visual costs
The Year to Date results are summarized as follows:
		Actual	Budget	Variance
Revenues		2,037,652	1,981,040	56,612
Expenses		2,022,329	2,064,837	42,508
Net Income - pre investment income		15,323	(83,797)	99,120
The favorable variance in year to date revenues reflects better than budgeted Magazine advertising, NCMA Jobs.com revenues and NES seminar and Audio Seminar revenues.
This is partially offset by the shortfall in both the ADC revenues in July and Commercial Contracting revenues in September together with slightly lower membership revenues and the delayed start in e-Learning
Year to date expenses are lower than budgeted for the following reasons:
	Lower ADC conference variable costs
	Lower Commercial Contracting Conference variable costs
	Deferral of budgeted costs in Certification and lower Certification Board costs
	Later than  planned start date for new Chief Knowledge Officer (Education) and Designer (Communications)
	Deferral of e-Learning product launch
	Lower than budgeted Board of Director meeting expenses
	Deferred membership costs (Chapter manual, Certificates)
These lower costs have been partially offset by:
	Journal printing costs
	Higher than budgeted computer system and internet management costs
	Additional accounting assistance for the period of the Accounting Manager's maternity leave
	Higher variable costs on CM Magazine, Website, NES and Audio Seminars
NCMA - FY 05
PART B	DETAILED COMPARISON OF ACTUAL AND BUDGET FOR DECEMBER 2004
	Month	Month	Variance	Variance		Commentary on Variances
	ACTUAL	BUDGET	$	%
	December 2004	December 2004
Revenues
Governance
Leadership Summit		0	0
	0	0	0
Membership and Chapter Relations
Membership Dues	94,420	95,000	(580)	-1%		YTD Actual - $536,607, Budget $584,400 - Focus on Group
Initiation Fees	2,585	2,000	585	29%
Associate Dues	2,340	1,750	590	34%
Retired Dues	2,640	2,000	640	32%
Group Memberships	14,951	17,600	(2,649)	-15%		YTD - Actual $146,902, Budget $117,200
						Includes renewals for FDIC, Jacobs Engineering and GSA
Corporate Memberships		20,000	(20,000)			Sold by third party - NPI - timing of sale difficult to predict YTD Actual 12,499, YTD Budget $30,000
Affinity Programs	1,082	1,000	82	8%		Sold by third party - MGI - timing of sale difficult to predict
Merchandise Sales	135	0	135
Total Membership and Chapter Relations	118,153	139,350	(21,197)	-15%
Education
NES	12,690	0	12,690			Actual 2 seminars - (Greater NY and National at GCC) - no seminars budgeted
Audio Seminars	205	9,740	(9,535)	-98%		No seminars held - (Budget 2 seminars - 50 and 25 Registrants). Revenues are CD sales
Learning Center		6,000	(6,000)
Books	1,392	6,176	(4,784)	-77%		Book sales
E-Learning		3,580	(3,580)	-100%		Product not yet relaunched
Total Education	14,287	25,496	(11,209)	-44%
Communications
Buyers Guide	18,090	7,917	10,173	128%		Sold by third party (NPI) and timing of sales is sometimes difficult to predict but NPI expect to
						make up most of budget shortfall by the end of FY 05				Ytd Act - $38,060 - Bud $47,502
NCMA Jobs.com	27,325	17,500	9,825	56%		Product continues to perform very well.			Ytd Act - $167,833 - Bud $105,000
Career Fair
CM Magazine	75,608	38,500	37,108	96%		Higher advertising sales than budgeted
Website	5,200	3,500	1,700	49%		Sold by third party (NPI) and timing of sales is sometimes difficult to predict
						Ytd Act - $39,849 - Bud $21,000
Reprints	1,912	208	1,704	819%
Total Communications	128,134	67,625	60,509	89%
Certification
CPCM	9,700	5,050	4,650	92%	(	Higher than anticipated response from those due to recertify in 2004
CFCM/CACM	3,590	1,652	1,938	117%	(
CCCM	600	300	300	100%	(
Miscellaneous/CMBOK	0	0	0
Total Certification	13,890	7,002	6,888	98%
Meetings
Commercial Contracting Conf		0	0
ADC/West Coast Conference		0	0
Govt Contract Mgmt Conf/ECC	248,115	235,775	12,340			See comments in Executive Summary
World Congress		0	0
Total Meetings	248,115	235,775	12,340
Other Revenue
Miscellaneous	161	0	161
Total Other Revenue	161	0	161
Total Revenue	522,740	475,248	47,492	10%
			0
Expenses
Governance
Board of Advisors		0	0
Board of Directors	13,494	20,400	6,906	34%		Timing on expense claims
Council of Fellows		0	0
Executive Council		0	0
Leadership Summit		0	0
National Officer Support		0	0
Regional Administration		0	0
Strategic Planning		0	0
Committees		0	0
						Governance YTD - Actual $53,662 - Budget $78,052
Total Governance	13,494	20,400	6,906	34%
Administration
Salaries and Benefits	37,260	37,298	37	0%
Administration	32,535	22,567	(9,968)	-44%		Computer system management and clean up by third party - ($7,855) and higher postage charges
Building	11,580	12,155	575	5%		$500 Budgeted maintenance/painting - not used
Finance	19,466	11,875	(7,591)	-64%		Temporary accounting fees paid to 3rd party during absence of Accounting Manager on
						maternity leave.
Marketing	43,484	55,145	11,661	21%		Timing - YTD Marketing - Actual $175,455 - Budget $202,327
						Total Administration Expense YTD Actual $757,325, Budget $732,727
Total Administration	144,325	139,040	(5,286)	-4%
Membership and Chapter Relations
Salaries and Benefits	19,778	13,935	(5,844)	-42%		Includes final payment to Director of Membership who resigned as of 12/30/04
Individual Memberships	3,735	4,851	1,116	23%		Lower mailhouse and printing costs
Corporation Memberships	0	5,500	5,500			No revenue - therefore no commission
Chapter Relations	6,561	13,675	7,114	52%		Represents chapter rebate accrual - pin, promotion and awards costs deferred
Communities of Interest	0	0	0
Total Membership and Chapter Relations	30,074	37,961	7,886	21%
Education
Salaries and Benefits	9,113	8,088	(1,025)	-13%		New Chief Knowledge Officer
General & Administrative	2,452	1,292	(1,160)	-90%		Amortization of Learning Center maintenance and SB travel/phone costs
NES	22,923	650	(22,273)	-3427%		No significant costs budgeted as no NES seminars budgeted. Costs comprise:
						Recording of G Garrett NES at the GCC - $3,252, G Garrett Royalty - $1,185,
						GCC NES costs - (Food, Speaker) - $5,489,  Books including NES inventory
						adjustment $11,366
Audio Seminars	29	7,250	7,221	100%		No seminar held
Learning Center	2,917	4,567	1,650	36%		Amortization of Learning Center Cost (No sales - therefore no commission cost)
Cost of Books	2,274	3,776	1,502	40%		Cost of books and inventory adjustment $1,832
E-Learning		1,604	1,604	100%		Product not yet relaunched
COI Committees		1,750	1,750	100%		No committee meetings/teleconferences
		0	0
Total Education	39,708	28,977	(10,731)	-37%
Communication
Salaries and Benefits	21,035	26,385	5,350	20%		IT Manager terminated 7/31/04
Buyers Guide	4,975	14,977	10,002	67%		Budget includes design and data entry costs - deferred until January 2005
NCMA jobs.com	4,100	4,000	(100)	-3%		Fixed flat rate fee per month ($4,000) and hosting fee
Career Fair	500	1,000	500	50%		Flat monthly contract fee - $500 - Budget also has $500 marketing expense - not yet spent
Contract Management	65,984	36,728	(29,256)	-80%		Higher sales - higher commission; and catch-up on third party bonus commission accrual
BPA Audit	252	242	(10)	-4%		Monthly charge
Journal	0	0	0
Website	17,234	1,546	(15,688)	-1015%	(	IT Manager was terminated on July 31. Third party vendor (Mindshare) contracted to manage the
					(	internet. Costs include clean-up of system, troubleshooting problems, upgrade of Website
					(	bandwidth, and content update. Charge in December is $14,202. Balance of line item is commission
					(	on higher website revenues
Reprints	0	0	0
Total Communications	114,080	84,878	(29,202)	-34%
Certification
Salaries and Benefits	7,258	7,124	(134)	-2%
General Program Expenses	172	7,462	7,290	98%		Update of CMBOK $4,167 deferred until early 2005
						Job/Task Analysis Survey $3,125 deferred until early 2005
Certification Board	378	0	(378)			Meeting at GCC
CPCM	118	150	32
CFCM/CACM	57	75	18
CCCM	57	3,075	3,018			Psychometrician costs and testing work deferred until early 2005
Total Certification	8,040	17,886	9,846	55%
Meetings
Salaries and Benefits	6,627	6,379	(248)	-4%
General & Administrative	479	0	(479)			Depreciation of audio visual equipment
Commercial Contracting Conference	0	0	0
ADC/West Coast Conference	0	0	0
Government Contracting/ECC	109,603	104,531	(5,072)			See Executive Summary above
World Congress	0	0	0
Total Meetings	116,708	110,909	(5,799)	-5%
Total Expenses	466,429	440,050	(26,380)	-6%
			(0)
Net Gain/(Loss) before Investments and Other	56,311	35,198	21,113	-60%
Investments
Investment Revenue	9,787		9,787			Consistent with prior years nothing budgeted for investment activity
Unrealized Gain (loss)	28,718		28,718			because of the unpredictability of the stock market
Investment Fees			0			Unrealized gain in December reflects gains in both domestic equities and fixed income
Net Investment Revenue	38,505	0	38,505
Net Gain(loss) before Other	94,816	35,198	59,618
Other Income/Expense
Other Income/Expense - Net	0	0
Net Gain (loss) before Income Taxes	94,816	35,198	59,618
Income Tax Expense	15,000