NCMA - FY 05	STATEMENT OF ACTIVITIES  AND COMMENTARY FOR FEBRUARY 2005
	EXECUTIVE SUMMARY
The results for February are summarized as follows:
		Actual	Budget	Variance
Revenues		276,273	232,923	43,350
Expenses		307,959	264,080	(43,879)
Net Income - pre investment income		(31,686)	(31,157)	(529)
The favorable variance in February revenue results from better than budgeted performance in Communications (Buyers Guide, CM Magazine, and NCMA Jobs.com) and
Education (Audio Seminars).
This favorable variance is offset by adverse variances in Education (NES and E-Learning)
The adverse variance in February expenses results from Governance (Mid Year Leadership Summit budgeted in January), Administration (Network systems management
and relocation costs), Communications (Higher variable costs associated with higher revenues) and Certification ( Job Analysis Survey - budgeted in earlier months)
The Year to Date results are summarized as follows:
		Actual	Budget	Variance
Revenues		2,596,851	2,453,966	142,885
Expenses		2,634,531	2,645,266	10,735
Net Income - pre investment income		(37,680)	(191,300)	153,620
The favorable variance in year to date revenues reflects better than budgeted performance in Communications (CM Magazine advertising, NCMA Jobs.com revenues, Website revenues) and Education (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 the delayed start in e-Learning and lower book sales.
Year to date expenses are lower than budgeted for the following reasons:
	Lower ADC conference variable costs
	Lower Commercial Contracting Conference variable costs
	Lower Mid Year Leadership Conference 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 FEBRUARY 2005
	Month	Month	Variance	Variance		Commentary on Variances
	ACTUAL	BUDGET	$	%
	February 2005	February 2005
Revenues
Governance
Leadership Summit	1,075	0	1,075			Reston Virginia Mid Year Leadership Conference
						Budget was conservative and included no revenue
	1,075	0	1,075
Membership and Chapter Relations
Membership Dues	89,901	93,000	(3,099)	-3%		YTD Actual - $756,988, Budget $777,000
Initiation Fees	4,440	2,000	2,440	122%
Associate Dues	2,025	1,750	275	16%
Retired Dues	1,640	2,000	(360)	-18%
Group Memberships	14,765	15,000	(235)	-2%		YTD - Actual $172,933, Budget $146,200
						Includes renewals for National Reconnaissance Office
Corporate Memberships	10,000	0	10,000			Defense Acquisition University - Reclassification from Education - (Miscoded in January) see below
						Sold by third party - NPI - timing of sale difficult to predict YTD Actual 22,499, YTD Budget $40,000
Affinity Programs	2,998	2,185	813	37%		Sold by third party - MGI - timing of sale difficult to predict
Merchandise Sales		0	0
						Total Membership Revenues;
Total Membership and Chapter Relations	125,769	115,935	9,834	8%		YTD Actual - $1,028,713; Budget $1,020,785
Education
NES	21,225	26,000	(4,775)	-18%		Actual 4 seminars - avg attendance - 70 - Budget 6 seminars - avg attendance 50
Audio Seminars	13,235	9,740	3,495	36%		Actual 1 seminar - attendance - 82 @ $150 - Budget 2 seminars - aggregate attendance 75
						@ $125 each - Balance of revenues is CD and tape sales
Learning Center	(4,000)	0	(4,000)			Management Concepts - $6,000 - offset by reclassification to Membership of $10,000 (DAU)
						a Corporate member, incorrectly classified to Education in January
Books	2,280	8,016	(5,736)	-72%		Book sales
E-Learning	1,925	10,740	(8,815)	-82%		Product launched in February - Budget reflects anticipated earlier start (July 04) and build up of
						interest and sales
Total Education	34,665	54,496	(19,831)	-36%
Communications
Buyers Guide	19,141	7,917	11,224	142%		Sold by third party (NPI) and timing of sales is sometimes difficult to predict but
						budget shortfall now almost made up as of 2/28/05				Ytd Act - $62,876 - Bud $63,336
NCMA Jobs.com	27,725	17,500	10,225	58%		Product continues to perform very well.			Ytd Act - $229,958 - Bud $140,000
Career Fair
CM Magazine	59,869	29,500	30,369	103%		Higher advertising sales than budgeted
Website	4,500	3,500	1,000	29%		Sold by third party (NPI) and timing of sales is sometimes difficult to predict
						Ytd Act - $47,349 - Bud $28,000
Reprints	1,382	208	1,174	564%
Total Communications	112,616	58,625	53,991	92%
Certification
CPCM	1,039	2,580	(1,541)	-60%
CFCM/CACM	959	987	(28)	-3%
CCCM	150	300	(150)	-50%
Miscellaneous/CMBOK	0	0	0
Total Certification	2,148	3,867	(1,719)	-44%
Meetings
Commercial Contracting Conf		0	0
ADC/West Coast Conference		0	0
Govt Contract Mgmt Conf/ECC		0	0
World Congress		0	0
Total Meetings	0	0	0
Other Revenue
Miscellaneous		0	0
Total Other Revenue	0	0	0
Total Revenue	276,273	232,923	43,350	19%
			0
Expenses
Governance
Board of Advisors		0	0
Board of Directors	3,604	2,833	(771)	-27%		Timing on expense claims - YTD Actual $47,462; Budget $67,798
Council of Fellows		0	0
Executive Council		0	0
Leadership Summit	8,276	0	(8,276)			Budget was conservative, assumed three conferences in January (Actual - 2 in Jan, 1 in Feb) and
						different cost structure - YTD Actual - $21,888, Budget 34,000
National Officer Support		0	0
Regional Administration		0	0
Strategic Planning		0	0
Committees		0	0
Total Governance	11,880	2,833	(9,047)	-319%		Governance YTD - Actual $82,944 - Budget $117,718
Administration
Salaries and Benefits	39,850	37,298	(2,553)	-7%		Pan NCMA adjustment to vacation accrual.
Administration	40,587	28,641	(11,946)	-42%		Computer system management by third party - $7,007, Office relocation costs - $3,030
						recruitment costs and higher telephone costs
Building	11,681	12,155	474	4%		Budget has $300 for maintenance - not used
Finance	13,830	11,798	(2,032)	-17%		Higher bank charges and local county business professional and occupational license
Marketing	14,004	19,078	5,074	27%		Lower membership related marketing - YTD Marketing - Actual $200,092 - Budget $237,258
Total Administration	119,952	108,970	(10,982)	-10%		Total Administration Expense YTD Actual $878,483, Budget $832,760
Membership and Chapter Relations
Salaries and Benefits	6,994	13,935	6,941	50%		No Director of Membership (resigned as of 12/30/04)
General and Administrative	1,306	0	(1,306)			Membership associate - long-term temporary staff
Individual Memberships	7,730	4,851	(2,879)	-59%		Higher postage costs
Corporate Memberships	2,750	0	(2,750)			Commission on revenues - DAU
Chapter Relations	7,255	11,175	3,920	35%		Represents chapter rebate accrual and printing - pin and promotion costs deferred
Communities of Interest		0	0
Total Membership and Chapter Relations	26,034	29,960	3,926	13%
Education
Salaries and Benefits	9,610	8,088	(1,522)	-19%		Chief Knowledge Officer
General & Administrative	2,610	1,292	(1,318)	-102%		Amortization of Learning Center maintenance and SB travel/phone costs
NES	9,921	6,250	(3,671)	-59%		Cost of books, shipping, and royalty fees
Audio Seminars	6,858	7,250	392	5%		Production and site fees and CD costs
Learning Center	1,817	2,916	1,099	38%		Amortization of Learning Center Cost - $2,917, Commission on revenues - $1,650 offset by credit for
						Corporate member commission reclass ($2,750) - see membership
Cost of Books	2,546	5,136	2,590	50%		Cost of books, shipping costs and royalty fees
E-Learning	1,829	4,432	2,603	59%		Product launched in February - commission on revenues
COI Committees	0	1,750	1,750	100%		No committee meetings/teleconferences
		0	0
Total Education	35,191	37,114	1,923	5%
Communication
Salaries and Benefits	21,515	26,385	4,869	18%		IT Manager terminated 7/31/04
Buyers Guide	10,264	2,177	(8,087)	-371%		Higher sales - higher commission and late design fee invoice from NPI
NCMA jobs.com	4,000	4,000	0	0%		Fixed flat rate fee per month ($4,000)
Career Fair	500	1,000	500	50%		Flat monthly contract fee - $500 - Budget also has $500 marketing - not used
Contract Management	44,231	33,253	(10,978)	-33%		Higher sales - higher commission - other costs (printing) on budget
BPA Audit	253	242	(11)	-4%		Monthly charge
Journal	0	300	300			Budgeted artwork - will not be done
Website	3,758	1,046	(2,712)	-259%	(	IT Manager was terminated on July 31. Third party vendor (Mindshare) contracted to manage the
					(	internet. Costs include clean-up of system, troubleshooting problems, and content update.
					(	Charge in February is $2,371. Balance of line item is commission on website revenues
Reprints	0	0	0
Total Communications	84,521	68,403	(16,118)	-24%
Certification
Salaries and Benefits	10,783	7,124	(3,659)	-51%		Director of Certification resigned February 28 - Variance represents final catch-up
						payment
General Program Expenses	11,510	3,298	(8,212)	-249%		Job analysis survey - (Schroeder Measurement - $10,820) - budgeted in earlier months
						YTD Actual - $17,320 - Budget $25,000
Certification Board	0	0	0
CPCM	810	0	(810)
CFCM/CACM	57	0	(57)
CCCM	57	0	(57)
Total Certification	23,216	10,422	(12,794)	-123%
Meetings
Salaries and Benefits	6,688	6,379	(309)	-5%
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	0	0	0
World Congress	0	0	0
Total Meetings	7,166	6,379	(787)	-12%
Total Expenses	307,959	264,080	(43,879)	-17%
			0
Net Gain/(Loss) before Investments and Other	(31,686)	(31,157)	(529)	-2%
Investments
Investment Revenue	4,580		4,580			Consistent with prior years nothing budgeted for investment activity
Unrealized Gain (loss)	7,033		7,033			because of the unpredictability of the stock market
Investment Fees			0			Unrealized gain in February reflects gains in domestic equities
Net Investment Revenue	11,613	0	11,613
Net Gain(loss) before Other	(20,073)	(31,157)	11,084
Other Income/Expense
Other Income/Expense - Net	0	0
Net Gain (loss) before Income Taxes	(20,073)	(31,157)	11,084
Income Tax Expense
Net Gain (loss) after Income Taxes	(20,073)	(31,157)