NCMA - FY 05	STATEMENT OF ACTIVITIES  AND COMMENTARY FOR SEPTEMBER 2004
PART A	EXECUTIVE SUMMARY
The results for September are summarized as follows:
		Actual	Budget	Variance
Revenues		390,082	369,093	20,989
Expenses		373,925	359,330	(14,594)
Net Income - pre investment income		16,158	9,763	6,395
September revenues exceeded budget as a result of better than budgeted Audio Seminar revenues and higher advertising sales for the CM magazine
and NCMA Jobs.com. These favorable variances were partially offset by lower than budgeted revenues for the Commercial Contracting Conference
September expenses were higher than budget because higher variable costs on the Audio Seminars and CM Magazine (Commission). These
adverse variances were partially offset by lower variable costs on the Commercial Contracting Conference.
The Year to Date results are summarized as follows:
		Actual	Budget	Variance
Revenues		998,555	1,023,986	(25,431)
Expenses		1,020,676	1,085,996	65,320
Net Income - pre investment income		(22,121)	(62,010)	39,889
Year to date revenues are lower than budgeted primarily as result of the shortfall in both the ADC revenues in July and Commercial Contracting revenues in
September. This shortfall has been partially offset by better than budgeted Magazine advertising, NCMA Jobs.com revenues and Audio Seminar revenues.
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
	Later than  planned start date for new Chief Knowledge Officer (Education) and Designer (Communications)
	Lower than budgeted Board of Director meeting expenses
These lower costs have been partially offset by:
	Journal printing costs
	Higher than budgeted computer system and internet management costs
	Higher variable costs on CM Magazine and Audio Seminars
NCMA - FY 05
PART B	DETAILED COMPARISON OF ACTUAL AND BUDGET FOR SEPTEMBER 2004
	Month	Month	Variance	Variance		Commentary on Variances
	ACTUAL	BUDGET	$	%
	September 2004	September 2004
Revenues
Governance
Leadership Summit		0	0
	0	0	0
Membership Dues	105,705	104,200	1,505	1%
Initiation Fees	2,860	2,000	860	43%
Associate Dues	1,665	1,750	(85)	-5%
Retired Dues	2,760	2,000	760	38%
Group Memberships	23,720	33,600	(9,880)	-29%		Focus on marketing of Group memberships continues but timing difficult to predict
						YTD - Actual $63,742, Budget $56,600
Corporate Memberships	10,000	0	10,000			Kellogg, Brown, and Root
Affinity Programs	1,208	1,000	208	21%
Merchandise Sales	85	0	85
Total Membership and Chapter Relations	148,003	144,550	3,453	2%
Education
NES	3,965	3,750	215	6%		One seminar - Project Management and share of Gateway chapter NES
Audio Seminars	46,547	6,615	39,932	604%		Actual 2 seminars  - Registrants 194 and 124 - Budget 1 seminar - Registrants 50
Learning Center			0
Certification	4,331	6,176	(1,845)	-30%		Certification book sales
E-Learning		3,580	(3,580)	-100%		Product not yet relaunched
Total Education	54,843	20,121	34,722	173%
Communications
Buyers Guide	1,085	7,917	(6,832)	-86%		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 - $4,640 - Bud $23,751
NCMA Jobs.com	31,575	17,500	14,075	80%		Product continues to grow - September revenues represent the highest monthly sales since
						product introduced		Ytd Act - $88,100 - Bud $52,500
Career Fair
CM Magazine	60,538	43,500	17,038	39%		Stronger than anticipated advertising revenues and inclusion of in-house ad charge not budgeted
Website	3,147	3,500	(353)	-10%		Close to maximum given current web configuration
Reprints	1,146	208	938	451%
Total Communications	97,491	72,625	24,866	34%
Certification
CPCM	2,750	1,140	1,610	141%	(	Reminder to recertify sent out in July - principally CPCM
CFCM/CACM	1,195	1,082	113	10%	(	End of Government fiscal year prompts increase in applications and recertifications
CCCM	1,500	300	1,200	400%	(
Miscellaneous/CMBOK	0	0	0
Total Certification	5,445	2,522	2,923	116%
Meetings
Commercial Contracting Conf	81,820	129,275	(47,455)	-37%		CCC		Actual	Budget
						Revenues		81,820	129,275
						Expenses		51,770	65,355
						Net Income		30,050	63,920
						Net Income %		37%	49%
						Lower number of Registrants than budgeted - Actual 84 - Budget 149
						Lower Exhibitor/Sponsor sales than budgeted - Actual $34,420 - Budget $43,800
						Expenses lower but not on a pro rata basis - because of unbudgeted speaker fees
						and the fact that not all expense are variable
ADC/West Coast Conference	2,480	0	2,480			Late credit card clearance
Govt Contract Mgmt Conf/ECC		0	0
World Congress		0	0
Total Meetings	84,300	129,275	(44,975)	-35%
Other Revenue
Miscellaneous		0	0
Total Other Revenue	0	0	0
Total Revenue	390,082	369,093	20,989	6%
			0
Expenses
Governance
Board of Advisors		0	0
Board of Directors	663	2,833	2,170	77%		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
Total Governance	663	2,833	2,170	77%
Administration
Salaries and Benefits	39,175	36,384	(2,791)	-8%		Pan NCMA vacation accrual adjustment
Administration	36,124	25,167	(10,957)	-44%		Computer system management and clean up by third party - (Mindshift $8,932), late
						equipment lease charge and higher telephone costs
Building	11,036	12,155	1,119	9%		Small rent credit - $720 - and budgeted maintenance accrual - $300 - not used
Finance	1,144	11,779	10,635	90%		Credit of $9,153 arising from final settlement of County of Fairfax Property tax issues.
						generates favorable variance of $10,453 on September tax charge
Marketing	48,933	55,487	6,554	12%		Deferral of Certification direct marketing campaign until calendar 2005 partially offset
						by higher than budgeted marketing expense on Commercial Contracting Conference
Total Administration	136,412	140,972	4,560	3%
Membership and Chapter Relations
Salaries and Benefits	13,940	13,935	(5)	0%
Individual Memberships	3,000	4,851	1,851	38%		Lower printing costs
Corporation Memberships	2,750	0	(2,750)			Third party commission on $10,000 revenues
Chapter Relations	14,441	11,675	(2,766)	-24%		Chapter rebates and Chapter program incentives - YTD Actual $32,596, Budget $40,247
Communities of Interest		0	0
Total Membership and Chapter Relations	34,131	30,461	(3,670)	-12%
Education
Salaries and Benefits	8,261	7,630	(631)	-8%		New Chief Knowledge Officer - first full month
General & Administrative	2,508	1,292	(1,216)	-94%		Amortization of Learning Center maintenance - budgeted and CKO travel - not budgeted
NES	3,272	1,060	(2,212)	-209%		Current costs and prior month adjustment on book costs
Audio Seminars	25,207	4,100	(21,107)	-515%		Production and CD costs - in line with higher revenues
Learning Center	2,917	2,917	0	0%		Amortization of Learning Center Cost
Certification	6,937	3,776	(3,161)	-84%		Includes $4,320 - Organizational Assessment Contract - Editorial costs and cost of 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	49,102	24,129	(24,973)	-103%
Communication
Salaries and Benefits	23,494	26,196	2,702	10%		IT Manager terminated 7/31/04 - partially offset by salary adjustment catch-ups
Buyers Guide	298	2,177	1,879	86%		Lower sales - lower commission
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 expense - not yet spent
Contract Management	43,360	37,303	(6,057)	-16%		Higher sales - higher commission - and slightly higher than budgeted printing costs
BPA Audit	252	242	(10)	-4%		Monthly charge
Journal	0	0	0
Website	7,956	1,046	(6,910)	-661%	(	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 September is $7,090. Balance of line item is commission
					(	on website revenues
Reprints	0	0	0
Total Communications	79,861	71,964	(7,897)	-11%
Certification
Salaries and Benefits	7,590	7,124	(466)	-7%		Salary adjustment catch-up
General Program Expenses	6,672	9,964	3,292	33%		Includes Job Analysis survey costs - $6,500
						Gap analysis budgeted at $2,500 now to be done in-house by Steve Boshears
Certification Board	0	0	0
CPCM	178	0	(178)
CFCM/CACM	57	150	93
CCCM	57	0	(57)
Total Certification	14,554	17,238	2,684	16%
Meetings
Salaries and Benefits	6,953	6,379	(574)	-9%		Salary adjustment catch-up
General & Administrative	479	0	(479)			Depreciation of audio visual equipment
Commercial Contracting Conference	51,770	65,355	13,585	21%		See comments above
ADC/West Coast Conference		0	0
East Coast Conference		0	0
World Congress		0	0
Total Meetings	59,201	71,734	12,533	17%
Total Expenses	373,925	359,330	(14,594)	-4%
			(0)
Net Gain/(Loss) before Investments and Other	16,158	9,763	6,395	-66%
Investments
Investment Revenue	4,820		4,820			Consistent with prior years nothing budgeted for investment activity
Unrealized Gain (loss)	15,959		15,959			because of the unpredictability of the stock market
Investment Fees			0			Unrealized gain in September reflects gains in domestic equities.
Net Investment Revenue	20,779	0	20,779
Net Gain(loss) before Other	36,937	9,763	27,174
Other Income/Expense
Other Income/Expense - Net	0	0
Net Gain (loss) before Income Taxes	36,937	9,763	27,174
Income Tax Expense	6,500
Net Gain (loss) after Income Taxes	30,437	9,763