October 2006 165
The Schedules of Operating Expenses as
presented below indicate that there was an
increase in total operation expenses of
$799,336. Since this is a comparative
statement of the years 2005 and 2004, you
can see the categories where the increases
occurred; salaries, marketing division, and
insurance have the main increases.
As with other organizations, the cost of
living continues to rise and AMA is affected
accordingly. To those who are not directly
involved in the operations of AMA and their
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, and 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 to 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.
I anticipate that this will be my final term
as Executive Vice President. There are 21/2
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,
banker, or business person.
If you think you might be interested in
this opportunity, I would like to discuss this
with you and perhaps get you involved in
the current operations in order 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
3517 Fernwood Dr.
Raleigh NC 27612
Home: (919) 878-5163
Work: (919) 787-7454
Executive Vice President
Doug Holland; [email protected]
Edition: Model Aviation - 2006/10
Page Numbers: 165