Treasurer’s Message

Treasurer’s Message

CalPERS has been in the limelight lately. Not only for its dismal returns in the past few years, but also for its investments in firearms. After the unfortunate act by a lunatic in Florida, there is a group out there stooping so low as to use shooting victims to try to shame CalPERS into divesting from firearms and other weapons. Read More »

Treasurer’s Message

Wow, it seems as if it was yesterday that we were exchanging gifts and making New Year’s resolutions. Yet we’re now gathering receipts and preparing tax returns. Some of you may have filed your returns already and are using your refund constructively or you are preparing a payment plan. Read More »

Treasurer’s Message

Start 2018 on the financial “right foot.” Early in the year is the best time to make sure your association and chapter’s financial business is in order. If your association has a new treasurer, this is a good opportunity to make sure they are aware of your financial and reporting requirements. Read More »

Treasurer’s Message

By now, most of us have stowed our holiday decorations (or maybe not) and are working on overcoming the overindulgence that inevitably accompanies the season. Some have probably already broken some well-intended, yet misguided, New Year’s resolutions. Read More »

Treasurer’s Message

Following is an update for all members who were not at Conference regarding the state of PORAC’s finances. Feel free to contact me with any questions. As of a recent conversation with Mark Sikorski, our investments were up around 16%, and that is with 25% of our monies in fixed income/bonds. The S&P for the same period is up 16.88%, which means our accounts are doing very well. Read More »

Treasurer’s Message

As mentioned in a past article, PORAC fared well during our audit of prior years’ financials. However, we did receive a management letter from the auditor noting a couple areas of concern. Finance and Administrative Manager Kim Busman refers to the management letter as a report card of her ability to properly manage PORAC’s finances. Therefore, she equates anything above the segregation of duties issue as needing to be remedied immediately. Read More »

Treasurer’s Message

PORAC’s Budget Committee and financial team, composed of Executive Committee Directors Barry Donelan, Randy Beintema, Anthony Sanders, Laren Leichliter, President Mike Durant, Vice President Brent Meyer, Finance and Administrative Manager Kim Busman and I, have been busy through this budget cycle. Read More »

Treasurer’s Message

Last year’s audit is now completed, and PORAC fared well. We had the usual challenges discussed by the auditors, which were delineated to the Board of Directors. The concerns were discussed, and the Board understands the reason for these challenges. I was provided with direction to resolve those issues that are within our sphere of influence. Read More »

Treasurer’s Message

Last year’s audit is in the wrap-up stages. It appears your PORAC financial team was able to gauge our income and expenses fairly well. At the end of the day, when you deduct our unrealized gains and losses on our investments, we ended up with a surplus. Read More »

Treasurer’s Message

PORAC has taken an active role in ensuring that CalPERS is focusing its fiduciary responsibility on the health of its funds, not whether the investment mechanism is politically correct or not. During the legislative portion of the June Executive Committee meeting, we had the opportunity to discuss PERS and its investments. Your PORAC Board took active steps to ensure that we actively oppose any bill that deals with CalPERS divesting. Read More »