Report from the Society Committee on Budget & Finance
www.acs.org/CouncilReports
September 11, 2013 Indianapolis, IN
Budget & Finance Committee 2013 Probable Year-End Projection Net from Operations - $14.5M $1.3M Favorable
Total Revenues - $491.8M $7.6M (-1.5%) Unfavorable
Total Expenses - $477.2M $8.9M (1.8%) Favorable
Board Financial Guidelines Compliance with four of five guidelines anticipated 2
Financial Guidelines Guideline
Target
Current Ratio
0.65x target
Debt Ratio Free Cash Flow
Sustainability
Fund Balance Ratio American Chemical Society
2013 Probable 1
50% maximum 3-year rolling average of free cash flow > 0 2.5% - 5.0% ROR target 50% minimum 3
Unrestricted Net Assets
2009 – 2012 Actuals; est. at July 31, 2013 ($ in Millions) Net from Operations – P1 Investment Gains PRBP Changes Net Increase
$ 14.5M 15.0M 55.3M $ 84.9M
$186
$200
$160
$124
$131
$120
$102
$101
$80
$40
$0 2009
2010
2011
2012
@ 07/31/2013
Note: Excludes the Member Insurance Program and the ACS Petroleum Research Fund.
American Chemical Society
4
Budget & Finance Committee Program Funding Requests ACS Entrepreneurial Initiative National Association of Chemistry Teachers ACS International Center (Reauthorization) SciMind (Reauthorization)
5
Program Funding Requests Net Expenses 2013 Approved
2014 Proposed
2015 Forecast
2016 Forecast
$ 276,000
$ 348,000
$
$
National Association of Chemistry Teachers
92,000
287,000
189,000
88,000
ACS International Center
87,000
96,000
99,000
101,000
$ 455,000
$ 731,000
$ 288,000
$ 189,000
ACS Entrepreneurial Initiative
Net Expenses *
-
-
* Net Expenses are before indirect assessments
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