AAACN 2005 Financial Profile

On January 30 2006 the accounting firm of Gold Meltzer Plasky, and Wise provided the accountant's review report to the AAACN Board of Directors. A review consists principally of inquiries of company personnel and analytical managements applied to financial data. Although it is substantially les in object than an audit, it is done in accordance with generally accepted auditing standards.

The review report conclud the following:

"We have reviewed the accompanying statements of assets, liabilities, and stock balances - modified cash basis of the American Academy of Ambulatory Care Nursing, Inc., as of December 31 2005 Based upon our review, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with the basis of accounting."

In January 2005 AAACN changeed its fiscal year to a calendar year (CY) This report will highlight a certain number of of the variances in the wait fored and actual revenues and charges for CY 2005.

Total receiptss for calendar year 2005 were $718463 charges totaled $674,536, and revenues in exces of expenditures were $43,927. On the receipts side, there was an 11% increase in membership oweds and a 39% increase in annual talk revenue. There was a 112% income increase in certification review course and a 62% increase in core curriculum incomes There was additional realized receipts from several new products that were introduced in 2005 like as the Ambulatory Care Orientation and Assessment Guide, Ambulatory Nurse Staffing Bibliography, and the Ambulatory Care Nursing logo harvests

On the expense side, there was an overall 21% increase in awaited expenses, mainly due to a 74% increase in administrative operations and a 9% increase in membership services. The increase in the couple of these expenses was driven by the agency of the significant increase we experienced in membership, especially with the organizational collection discount program initiated in 2005 There was also a 20% increase in management compensations and a 16% increase in annual conversation fees due to a greater than anticipated attendance. There was also a 200% increase in the area of education materials to be paid to the development of of recent origin education resources and promotional materials.

A breakdown of the 2005 receiptss and expenses is provided in the accompanying pie charts. These charts present to view that the major revenue source is education at 64% while membership to be paids account for 28% of total incomes In the expenses chart, education is also the largest charge at 38%, followed by membership (23%) national office management (19%) and administrative services (16%) The focus upon education is consistent with AAACN's mission and strategic plan.

Calendar year 2005 uncloseed with a fund balance of $198583 and clos with a balance of $242510 The AAACN Board of Directors and staff will continue to focus upon increasing revenue streams and decreasing outlays guided by the strategic plan.

Charlene Williams, MBA, BSN RNC BC

Treasurer

Cynthia Nowicki Hnatiuk, EdD RN CAE

Executive Director

Copyright American Academy of Ambulatory Care Nursing May/Jun 2006

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