Update by the Executive Director
Tim Merriman, Executive Director
October 2006

Audit, Budget and Cash Flow
We recently paid off our line of credit which is saving us funds paid for interest. We are building a surplus to pay bills related to the NIW. In November we accrue the income for NIW as revenue and will have a positive overall balance in income and expense for the first time since early spring. The new bookkeeping system is working well and we report on deferred income to show you the amounts of income that will be realized as events occur. All but one of the certification courses for 2006 have been held so revenue will not grow dramatically in the remainder of the year. Sales, memberships and NIW revenue all hinge on a solid NIW and more than 950 are pre-registered to date. We will not know our status regarding surplus for the year until after the NIW.

Business Plan
We will complete the Business Plan for 2007 by October 15 and post it on the website in preparation for the Board meeting. We have three positions approved by the board for staff additions but have not projected the ability to hire any of the three in 2007. The revenue projections in this business plan are very conservative and intended to allow us to build membership and improve revenue to permit eventual hiring in critical areas as funds permit.

Grants
We have about $70,000 in grant funds scheduled as deferred revenue until 2007 and that helps in next year’s budget. Grants revenue for this year has greatly exceeded projections due to project performance in both the curriculum and definitions projects. Both will soon result in publishable products that many partners have great interest in using. Recent updates at NAAEE on both projects were well-received. .

Definitions Project
The fourth and final meeting of this project occurs in late November and early December. We have developed a glossary of terms and expect very specific products to be identified and produced after the final face to face meeting.

InterpPress
The History Book returns from the printer on October 23. The Interpretive Writing book by Alan Leftridge is in final editing and will be in print by Nov. 7 when the NIW begins. We also have a personal journal designed with inspirational quotes that will be printed by then. It will be given to those who take our courses and will be sold in bulk to other trainers for similar uses.

Journal of Interpretation Research
The first 2006 issue of the journal has been mailed bringing us up to date. The second is in progress according to editor Carolyn Ward, so we should be back on schedule with this by fall.

Legacy Trust Fund
Board mandated changes in investments were made on July 31 and completed by August 11. An update on those changes may be seen by clicking here: NAI Investments.

Networking
September was an intensive month of certification courses for me and Lisa. In October we have done consultancy in Ohio, training in Arkansas and professional presentations in Seattle (NRPA), and St. Paul (NAAEE).

Region & Section Accounts
Click here for information on region and section accounts.

Travel Plans
My upcoming travel may be viewed here.