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NCMA - FY 05	STATEMENT OF ACTIVITIES  AND COMMENTARY FOR JULY 2004
PART A	EXECUTIVE SUMMARY
The results for July are summarized as follows:
		Actual	Budget	Variance
Revenues		367,196	449,654	(82,458)
Expenses		393,929	466,552	72,623
Net Income - pre investment income		(26,733)	(16,898)	(9,835)
The main reason for both the shortfall in revenues and lower than budgeted expenses is the lower attendance at the ADC conference in Long Beach.
The ADC conference numbers are summarized as follows:
		Actual	Budget	Variance
Revenues		159,415	247,545	(88,130)
Expenses		68,717	96,757	28,040
Net Income		90,698	150,788	(60,090)
Net Income %		57%	61%
NCMA has deferred certain first quarter costs to compensate for the $60,090 shortfall in net income.
Other departmental costs were lower than budgeted for the following reasons;
	Deferral of budgeted costs in Membership and Certification for the reasons stated above
	Later than  planned start date for new Chief Knowledge Officer (Education) and Designer (Communications)
	Marketing - lower printing (ADC Brochure) and promotional costs (Used in-house Avectra software instead of third party)
	Lower than budgeted Board of Director meeting expenses
NCMA - FY 05
PART B	DETAILED COMPARISON OF ACTUAL AND BUDGET FOR JULY 2004
	Month	Month	Variance	Variance		Commentary on Variances
	ACTUAL	BUDGET	$	%
	July 2004	July 2004
Revenues
Governance
Leadership Summit		0	0			Conservative budget - anticipated no revenue
	0	0	0
Membership and Marketing
Membership Dues	89,575	93,000	(3,425)	-4%
Initiation Fees	1,880	2,000	(120)	-6%
Associate Dues	1,755	1,750	5	0%
Retired Dues	1,920	2,000	(80)	-4%
Group Memberships	8,439	12,000	(3,561)	-30%		Timing of group renewals sometimes difficult to predict
Corporate Memberships	2,499	0	2,499			Internal Revenue Service
Affinity Programs	16	1,010	(994)	-98%		Sold by third party and difficult to predict
Merchandise Sales	130	0	130
Total Membership and Marketing	106,214	111,760	(5,546)	-5%
Education
NES	(165)	3,750	(3,915)	-104%		No NES seminars in July - Debit represents refund from earlier seminar
Audio Seminars	10,015	6,615	3,400	51%		1 seminar - Registrants - Actual 73, Budget 50.
Learning Center		0	0
Certification	3,504	6,352	(2,848)	-45%		Certification book sales
E-Learning		3,580	(3,580)	-100%		Product not yet relaunched
Total Education	13,354	20,297	(6,943)	-34%
Communications
Buyers Guide	440	7,917	(7,477)	-94%		Sold by third party and timing of sales is sometimes difficult to predict
NCMA Jobs.com	28,375	17,500	10,875	62%		Product continues to grow - July represents highest monthly sales since product introduced
Career Fair
CM Magazine	54,381	38,500	15,881	41%		Stronger than anticipated advertising revenues
Website	3,792	3,500	292	8%		Close to being sold out - no new banner opportunities without website expansion
Reprints	355	208	147	71%
Total Communications	87,342	67,625	19,717	29%
Certification
CPCM	380	1,140	(760)	-67%	(	Recertification
CFCM/CACM	190	987	(797)	-81%	(	and
CCCM	300	300	0	0%	(	Exam fees
Miscellaneous/CMBOK		0	0
Total Certification	870	2,427	(1,557)	-64%
						CCC - Lower than budgeted registrations - Act - 267, Bud - 426
Meetings						Summary		Actual	Budget
Commercial Contracting Conf		0	0			Revenues		159,415	247,545
ADC/West Coast Conference	159,415	247,545	(88,130)	-36%		Expenses		68,717	96,757
East Coast Conference		0	0			Net Income		90,698	150,788
World Congress		0	0			Net Income %		57%	61%
						Action has already been taken to defer expenditure budgeted in the first quarter in order
						to compensate for the NI shortfall of			$         60,090	and
Total Meetings	159,415	247,545	(88,130)	-36%		to begin investigating the reasons for the lower attendance
Other Revenue
Miscellaneous		0	0
Total Other Revenue	0	0	0
Total Revenue	367,196	449,654	(82,458)	-18%
			0
Expenses
Governance
Board of Advisors	1,369	655	(714)	-109%		50% of cost of joint reception at ADC Conference
Board of Directors	22,328	27,900	5,572	20%		Lower travel expenses than budgeted for meeting at ADC conference
Council of Fellows	1,369	655	(714)	-109%		50% of cost of joint reception at ADC Conference
Executive Council		0	0
Leadership Summit		0	0
National Officer Support		0	0
Regional Administration		0	0
Strategic Planning		0	0
Committees		0	0
Total Governance	25,066	29,210	4,144	14%
Administration
Salaries and Benefits	51,364	52,397	1,033	2%
Administration	33,227	30,649	(2,578)	-8%		Higher office and copier supplies
Building	11,836	12,155	319	3%
Finance	12,898	11,851	(1,047)	-9%		Higher credit cards processing charges than budgeted
Marketing	37,289	48,234	10,945	23%		Lower printing (Registration brochure) and promotional/e-mail costs (Used in-house Avectra
						software for e-mails rather than third party)
Total Administration	146,613	155,286	8,673	6%
Membership and Marketing
Salaries and Benefits	19,092	20,161	1,069	5%
Individual Memberships	4,010	4,851	841	17%		Lower mail house costs than budgeted
Corporation Memberships	687	0	(687)			Represents commission (27.5%) on Corporate sales (Made by third party)
Chapter Relations	10,224	17,396	7,172	41%		Deferral of Certificate and Award costs - $7,725
Communities of Interest		0	0
Total Membership and Marketing	34,013	42,408	8,395	20%
Education
Salaries and Benefits	1,380	11,259	9,879	88%		New Chief Knowledge Officer - budgeted to start July 1, actually started last week of July
General & Administrative	1,292	1,292	0	0%		Amortization of Learning Center maintenance
NES	459	560	101	18%		Late speaker expense and book shipping costs
Audio Seminars	6,456	4,100	(2,356)	-57%		Higher revenues - higher variable costs
Learning Center	2,917	2,917	0	0%		Amortization of Learning Center Cost
Certification	2,447	3,792	1,345	35%		Cost of Certification books sold
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	14,950	27,274	12,324	45%
Communication
Salaries and Benefits	33,081	36,776	3,695	10%		New designer started in August - budgeted July
Buyers Guide	121	2,177	2,056	94%		Lower sales - lower commission
NCMA jobs.com	4,300	4,120	(180)	-4%		Fixed flat rate fee per month($4,000) and actual includes in-house Ad charge - not in budget
Career Fair	500	1,000	500	50%		Flat monthly contract fee - $500 - Budget also has $500 marketing expense - not yet spent
Contract Management	39,197	37,628	(1,569)	-4%		Higher sales - higher commission
BPA Audit	761	2,248	1,487	66%		Budget includes cost of printing audit results ($1,280) - now scheduled for Nov/Dec
Journal		0	0
Website	1,043	1,846	803	44%		Budget included design costs/artwork  - deferred
Reprints		0	0
Total Communications	79,002	85,795	6,793	8%
Certification
Salaries and Benefits	9,670	10,251	581	6%		One fewer person than budgeted for part of year
General Program Expenses	5,423	10,214	4,791	47%		Significant costs deferred to FY 05 incl - meetings, legal, CMBOK update and coupon costs
Certification Board		0	0			Budget anticipated two meetings - only one held and at a lower cost than budgeted
CPCM	64	0	(64)
CFCM/CACM	63	0	(63)			Deferral of costs to FY 05, principally Psychometrician and testing costs
CCCM	57	0	(57)			Deferral of costs to FY 05, principally Psychometrician and testing costs
Total Certification	15,276	20,465	5,189	25%
Meetings
Salaries and Benefits	8,912	9,357	445	5%
General & Administrative	779	0	(779)			In-House ad charges offset in communications revenue and depreciation of audio visual equipment
Commercial Contracting Conference	600	0	(600)			In-House ad charges offset in communications revenue
ADC/West Coast Conference	68,717	96,757	28,040	29%		See analysis in revenue section above
East Coast Conference		0	0
World Congress		0	0
Total Meetings	79,008	106,114	27,106	26%
Total Expenses	393,929	466,552	72,623	16%
			0
Net Gain/(Loss) before Investments and Other	(26,733)	(16,898)	(9,835)	-58%
Investments
Investment Revenue	5,606		5,606			Consistent with prior years nothing budgeted for investment activity
Unrealized Gain (loss)	(28,037)		(28,037)			because of the unpredictability of the stock market
Investment Fees	3,214		3,214			Unrealized loss in July reflects decline in equities only partially offset by gains in
						fixed income
Net Investment Revenue	(25,645)	0	(25,645)
Net Gain(loss) before Other	(52,378)	(16,898)	(35,480)
Other Income/Expense
Other Income/Expense - Net	0	0
Net Gain (loss) before Income Taxes	(52,378)	(16,898)	(35,480)
Income Tax Expense
Net Gain (loss) after Income Taxes	(52,378)	(16,898)
	Net Income		0	0	0