Committee Reports

Treasurer’s Report

Rebecca MacNair-Semmands, Ph.D.
Rebecca MacNair-Semmands, Ph.D.

Rebecca MacNair-Semands, Ph.D., FAGPA

The 2014 proposed budget was submitted and approved by the board in January. Our projected 2014 income was $74,450 with projected expenses of $38,828, including our $12,000 contribution to the Foundation, Midwinter and Convention meeting expenses, newsletter and journal costs, and administrative services. Each year, the board attempts to budget for 80% of the project income in expenses so we are in excellent shape for 2014 with this ratio.

We decided at the Midwinter board meeting to spend $1,000 to hire a social media consultant, Tanya Dvorak, who works closely with Jen Alonso, Ph.D., CGP to put forth information for the Society. Some more positive news this year included that the Society’s royalty payment for Group Dynamics: Theory, Research, and Practice exceeded projected amounts by over $3,000 in May and totaled over $43,000 in income. Congratulations to our talented editorial staff! Midwinter meeting expenses also came in under projected costs by over $2,000. Additionally, investment assets totaled over $43,609 by the end of May, 2014. For more budget details, please see the division website.

We are currently also working to scan financial records and store them electronically. In the last year, APA brought the servicing of Division Accounting in-house and implemented a new accounting system, Serenic NAV. As they described it, “It has certainly been a bumpy road!” but progress has been made in recent months. Recently, The Division Finance team in APA filed an extension for division taxes this year so we are in process of completing tax forms for August with the manager of Division Finance and that is going well.