Executive Vice President
Contact
Doug Holland 3517 Fernwood Dr. Raleigh, NC 27612 Email: [email protected] Home: (919) 878-5163 Work: (919) 787-7454
Operating Expenses Summary
The Schedules of Operating Expenses presented below indicate that there was an increase in total operating expenses of $799,336. Since this is a comparative statement for the years 2005 and 2004, you can see the categories where the increases occurred: salaries, the marketing division, and insurance are the main increases.
As with other organizations, the cost of living continues to rise and AMA is affected accordingly. To those not directly involved in the operations of AMA and whose information is strictly from printed text, it is easy to say money is being wasted or spent unwisely. I assure all members that departmental heads and the interim Executive Director are constantly looking for and finding ways to cut expenses and save money.
There are, however, a number of expenses that are beyond their control, such as:
- bank charges
- professional fees
- postage
- insurance
- interest costs
The insurance expense is important to all who enjoy flying. Many do not understand the cost of the insurance and its importance, but when you are personally involved in a claim, it takes on a whole new meaning. Some claims are so large they would jeopardize a person's net worth and earnings for a long time if there were no insurance to help cover the cost. The most important coverage is for site owners because they cannot allow use of their property without insurance.
After you have reviewed the statement, I will be happy to discuss any questions.
Succession / Interested Candidates
I anticipate that this will be my final term as Executive Vice President. There are 2 1/2 years remaining on my term. In order to facilitate a smooth transition, I am interested in identifying individuals who might be candidates for this position, such as:
- a CPA
- a banker
- a business person
If you think you might be interested in this opportunity, I would like to discuss it with you and perhaps get you involved in the current operations to give you better insight into the responsibilities of this position. Please let me know of any interest.
Tolerance is the oil which takes the friction out of life.
A-B-C: Always Be Courteous.
Until later... Doug Holland
Transcribed from original scans by AI. Minor OCR errors may remain.
