CalCPA treasurer's report.

• Author: Leonard, Katherine T.
• Position: 2007 annual report - California Society of Certified Public Accountants - Brief article

A circle of success would be an apt description of the financial results of CalCPA for 2006-07. Our phenomenal membership growth (to more than 30,000 members) fueled an increase in dues revenues, greater participation at chapter events and more opportunities for sponsorship and publication revenue. CalCPA experienced a positive change in net assets of more than $2 million.

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Our expanded portfolio of investments resulted in greater investment income, while a well monitored investment policy steered us through stock market fluctuations.

Meeting costs increased due to greater member participation and rising facility costs. The budget for 2007-08 was formulated with the expectation of continued increase in these costs.

Due to our highly successful year, the CalCPA Council voted to add $1 million to the CalCPA Board designated building fund, bringing that total to $4.5 million.

Our members also generously funded the next generation of CPAs through donations to the CalCPA Institute, a separate 501(c)(3) entity which supports our scholarship...