AASP Newsletter - December 2016

Financial Report from AASP's Executive Board

One of the most important qualities that an individual can display in performance situations is consistency. To that end, if you have been reading these financial reports for the past year, you have probably picked up on the fact that financial data has been presented in a consistent manner; and hopefully, this improves the ability to easily comprehend AASP’s overall financial health. Thus, the 2016 approved budget, current 2016 YTD (Year To Date) spending, comparison of AASP financial performance over the past 3 years, and organizational assets are subsequently highlighted in this report.

It is important to note that data regarding the 2016 YTD spending is based on the most recent balance sheet available (August 31, 2016). As such, when interpreting the first table, it appears that AASP has nearly met our income targets for the year, while keeping expenses at less than half of what was projected. However, payments for conference expenses are not yet reflected in these numbers; thus specific expense cost-centers will rise in the coming months.

One upcoming change that will be reflected in the statement of organizational assets beginning next year will be the allocation of specific funds into an index fund. Specifically, during the Fall E-Board meeting, it was decided that AASP would invest $50,000 into the Fidelity Four-in-One Index Fund (FFNOX). This fund is a composite of four separate funds that track the S&P 500, the extended market (i.e., companies not in the S&P 500), international market, and United States bond market. Additionally, this fund has a very low expense ratio of 0.13% – meaning it costs AASP $1.30 / $1,000 / year to invest in this fund.