September 15, 2012


 Treasurer: AVMA on solid financial footing

Posted Sept. 5, 2012

AVMA Treasurer Barbara A. Schmidt addresses the House of Delegates. (Photo by R. Scott Nolen​)
The AVMA remains financially strong and fiscally sound, Treasurer Barbara A. Schmidt told the House of Delegates Aug. 3, as it also advances its strategic goals.

She said contributing to the Association’s solid economic foundation has been a collaborative, thoughtful, and efficient budget process that involves staff, Dr. Schmidt, and the Executive Board, which ultimately approved the calendar year 2013 budget in April.

For the 2013 budget, $31,517,375 is anticipated for income and $30,688,809 for expenses, which would result in surplus income of $828,566.

“We worked hard to get almost to $1 million,” Dr. Schmidt told JAVMA News, adding that the budget includes one-time expenses for the AVMA’s 150th anniversary celebration in 2013.

The commitment to prudent fiscal management and steady financial growth has been reflected in budgets from the past eight years that have generally shown income over expenses, Dr. Schmidt said.

Beginning next year and continuing through 2015, membership dues will increase by $10 each year. Dues accounted for 71 percent of the 2012 budget’s revenue.

And as of June 30, the 2012 reserves were projected to be at 92 percent. The AVMA reserves policy is to maintain 50 percent to 150 percent of the Association’s operating budget in the reserves fund.

The AVMA’s reserves serve as an asset for emergency needs and long-term stability and are, in part, designated for specific strategic purposes.

Close to $1.24 million from reserves have gone into the strategic goal fund, created in April 2008, to pay for initiatives and programs. That includes $820,000, as of June, designated for the Association’s website redevelopment. The strategic goal fund was supplemented with an additional $500,000 in January.

“It truly is an exciting time at AVMA—to be a part of this forward-thinking strategic process to bring value and relevance to our members,” Dr. Schmidt said.
AVMA income over expenses (2004-2013)