Executive VP’s Report - 2003/10
Doug Holland, AMA Executive VP
This month I present for your amusement and entertainment the Statement of Activities. This is an income statement. Due to stock market losses of $404,755 and a depreciation and amortization charge of $602,340, the net result from operations was a loss of $973,609.
A bright spot in the operation last year was a net cash increase of $447,285. The stock market growth has resulted in a year-to-date increase in our market position. If that continues, it will help reduce our loss, and the dues increase should put us in a stronger cash position at the end of the 2003 year. The complete audit report is on the AMA website. I present these statements for those who do not use the website.
J. M. Barrie, a playwright (1860–1937), said, "God gave us a memory so that we might have roses in December." Some of us can relate to that.
Until later, A-B-C — Always Be Courteous.
Contact
- 3517 Fernwood Dr.
- Raleigh, NC 27612
- Home: (919) 787-5163
- Office: (919) 787-7454
Transcribed from original scans by AI. Minor OCR errors may remain.
