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NCMA - FY 05	STATEMENT OF ACTIVITIES  AND COMMENTARY FOR JANUARY 2005
	EXECUTIVE SUMMARY
The results for January are summarized as follows:
		Actual	Budget	Variance
Revenues		282,927	240,003	42,924
Expenses		304,242	316,353	12,110
Net Income - pre investment income		(21,316)	(76,350)	55,034
The favorable variance in January revenue results from better than budgeted performance in Individual Membership Dues, Communications (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 favorable variance in January expenses is primarily the result of lower Mid Year Leadership Summit costs, lower membership costs (No Director of Membership and lower mailing
and printing costs)
This favorable variance is partially offset by higher administrative costs (Computer management, Relocation and Travel costs)
The Year to Date results are summarized as follows:
		Actual	Budget	Variance
Revenues		2,320,578	2,221,043	99,535
Expenses		2,326,572	2,381,185	54,613
Net Income - pre investment income		(5,994)	(160,142)	154,148
The favorable variance in year to date revenues reflects better than budgeted Magazine advertising, NCMA Jobs.com revenues, Website 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 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 JANUARY 2005
	Month	Month	Variance	Variance		Commentary on Variances
	ACTUAL	BUDGET	$	%
	January 2005	January 2005
Revenues
Governance
Leadership Summit	2,274	0	2,274			Las Vegas and San Antonio Mid Year Leadership Conferences
						Budget was conservative and included no revenue
	2,274	0	2,274
Membership and Chapter Relations
Membership Dues	130,480	99,600	30,880	31%		YTD Actual - $667,087, Budget $684,000
Initiation Fees	3,960	2,000	1,960	98%
Associate Dues	3,015	1,750	1,265	72%
Retired Dues	4,160	2,000	2,160	108%
Group Memberships	11,266	14,000	(2,734)	-20%		YTD - Actual $158,168, Budget $131,200
						Includes renewals for CACI and Cherokee Information
Corporate Memberships		10,000	(10,000)	-100%		Sold by third party - NPI - timing of sale difficult to predict YTD Actual 12,499, YTD Budget $40,000
Affinity Programs		1,010	(1,010)	-100%		Sold by third party - MGI - timing of sale difficult to predict
Merchandise Sales		0	0
						Total Membership Revenues;
Total Membership and Chapter Relations	152,881	130,360	22,521	17%		YTD Actual - $902,944; Budget $904,850
Education
NES	165	18,750	(18,585)	-99%		No seminars held - Budget - 5
Audio Seminars	18,595	6,615	11,980	181%		Actual and Budget - Both one seminar - but Actual - 111 Registrants @$150 each - Budget - 50
						registrants @$125 each
Learning Center	10,000	9,000	1,000	11%		Defense Acquisition University
Books	4,880	8,016	(3,136)	-39%		Book sales
E-Learning	0	7,160	(7,160)	-100%		Product now launched and revenue expected in February 2005
Total Education	33,640	49,541	(15,901)	-32%
Communications
Buyers Guide	5,675	7,917	(2,242)	-28%		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 - $43,735 - Bud $55,419
NCMA Jobs.com	27,400	17,500	9,900	57%		Product continues to perform very well.			Ytd Act - $195,233 - Bud $122,500
Career Fair
CM Magazine	46,822	23,500	23,322	99%		Higher advertising sales than budgeted
Website	3,000	3,500	(500)	-14%		Sold by third party (NPI) and timing of sales is sometimes difficult to predict
						Ytd Act - $42,849 - Bud $24,500
Reprints	1,249	208	1,041	500%
Total Communications	84,146	52,625	31,521	60%
Certification
CPCM	5,615	5,525	90	2%
CFCM/CACM	3,600	1,652	1,948	118%		Higher than anticipated applications and recertifications
CCCM	395	300	95	32%
Miscellaneous/CMBOK	0	0	0
Total Certification	9,610	7,477	2,133	29%
Meetings
Commercial Contracting Conf		0	0
ADC/West Coast Conference		0	0
Govt Contract Mgmt Conf/ECC	375	0	375			Late revenue adjustment
World Congress		0	0
Total Meetings	375	0	375
Other Revenue
Miscellaneous		0	0
Total Other Revenue	0	0	0
Total Revenue	282,927	240,003	42,924	18%
			0
Expenses
Governance
Board of Advisors		0	0
Board of Directors	3,791	2,833	(958)	-34%		Timing on expense claims - YTD Actual $43,858; Budget $64,965
Council of Fellows		0	0
Executive Council		0	0
Leadership Summit	13,612	34,000	20,388	60%		Budget was conservative, assumed three conferences in January (Actual - 2 in Jan, 1 in Feb) and
						different cost structure
National Officer Support		0	0
Regional Administration		0	0
Strategic Planning		0	0
Committees		0	0
Total Governance	17,403	36,833	19,430	53%		Governance YTD - Actual $71,064 - Budget $114,885
Administration
Salaries and Benefits	37,803	37,298	(506)	-1%		Absence of payment to Eve Khin (Maternity leave) offset by final payment to K Wilson - Dir Of
						Marketing (Resigned effective 1/30/05
Administration	40,662	22,867	(17,795)	-78%		Computer system management by third party - $5,507, Office relocation costs - $5,565, Staff travel -
						$3,801 (Timing) and leased copier quarterly meter charges - $2,320
Building	12,435	12,155	(280)	-2%
Finance	19,623	11,862	(7,761)	-65%		Temporary accounting fees paid to 3rd party during absence of Accounting Manager (E. Khin) on
						maternity leave. Now concluded as E. Khin returned in January
Marketing	10,633	15,854	5,221	33%		Timing - particularly Direct Mailing - YTD Marketing - Actual $186,088 - Budget $218,180
Total Administration	121,157	100,036	(21,121)	-21%		Total Administration Expense YTD Actual $878,483, Budget $832,760
Membership and Chapter Relations
Salaries and Benefits	7,605	13,935	6,329	45%		No Director of Membership in January (resigned as of 12/30/04)
Individual Memberships	735	4,916	4,181	85%		Lower mailhouse and printing costs
Corporation Memberships		2,750	2,750	100%		No revenue - therefore no commission
Chapter Relations	8,048	11,175	3,127	28%		Represents chapter rebate accrual and award - pin and promotion costs deferred
Communities of Interest		0	0
Total Membership and Chapter Relations	16,388	32,776	16,387	50%
Education
Salaries and Benefits	10,155	8,088	(2,067)	-26%		New Chief Knowledge Officer and includes allocation of part W Murrah salary for the first time
General & Administrative	2,306	1,292	(1,014)	-78%		Amortization of Learning Center maintenance and SB travel/phone costs
NES	175	2,200	2,025	92%		No NES held in January - cost represents sundry shipping/travel costs from prior month
Audio Seminars	8,650	4,100	(4,550)	-111%		Better attended seminar than budgeted resulting in higher variable costs
Learning Center	5,667	5,392	(275)	-5%		Amortization of Learning Center Cost - $2,917 and Commission $2,750
Cost of Books	4,648	5,136	488	9%		Cost of books and shipping costs
E-Learning	0	2,828	2,828	100%		Product launched in February
COI Committees	0	1,750	1,750	100%		No committee meetings/teleconferences
		0	0
Total Education	31,601	30,786	(815)	-3%
Communication
Salaries and Benefits	21,237	26,385	5,148	20%		IT Manager terminated 7/31/04
Buyers Guide	23,892	28,477	4,585	16%		Lower printing costs than budgeted - fewer copies printed
NCMA jobs.com	4,000	4,120	120	3%		Fixed flat rate fee per month ($4,000)
Career Fair	500	4,000	3,500	88%		Flat monthly contract fee - $500 - Budget also has $3,000 Career event set-up - now cancelled, and
						$500 marketing - not used.
Contract Management	42,805	32,303	(10,502)	-33%		Higher sales - higher commission; higher general printing costs $1,696; Cost of Chapter Presidents
						insert - $2,938 and higher mailout costs - $2,107.
BPA Audit	253	242	(11)	-4%		Monthly charge
Journal	0	0	0
Website	8,170	1,346	(6,824)	-507%	(	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 January is $6,765. Balance of line item is commission on website revenues
Reprints	0	0	0
Total Communications	100,857	96,873	(3,984)	-4%
Certification
Salaries and Benefits	7,318	7,124	(194)	-3%
General Program Expenses	2,047	5,547	3,500	63%		Job/Task Analysis Survey $3,125 deferred until early 2005 and no legal expenses
						(Budget $2,000), partially offset by shipping costs of recertification certificates
Certification Board	0	0	0
CPCM	199	0	(199)
CFCM/CACM	57	0	(57)
CCCM	57	0	(57)
Total Certification	9,678	12,671	2,993	24%
Meetings
Salaries and Benefits	6,681	6,379	(302)	-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	7,159	6,379	(781)	-12%
Total Expenses	304,242	316,353	12,110	4%
			0
Net Gain/(Loss) before Investments and Other	(21,316)	(76,350)	55,034	72%
Investments
Investment Revenue	5,496		5,496			Consistent with prior years nothing budgeted for investment activity
Unrealized Gain (loss)	(23,967)		(23,967)			because of the unpredictability of the stock market
Investment Fees	3,356		3,356			Unrealized loss in January reflects losses primarily in domestic equities
Net Investment Revenue	(21,826)	0	(21,826)
Net Gain(loss) before Other	(43,142)	(76,350)	33,208
Other Income/Expense
Other Income/Expense - Net	0	0
Net Gain (loss) before Income Taxes	(43,142)	(76,350)	33,208
Income Tax Expense
Net Gain (loss) after Income Taxes	(43,142)	(76,350)