Treasurer’s Message

Treasurer’s Message

I want to start by thanking the PORAC membership for electing me as treasurer of PORAC. I am honored to be selected to serve you and the interests of law enforcement in California. I pledge to put my time, efforts and knowledge toward advancing the safety of all Californians, especially those who have stepped forward, put on a badge and serve their communities as law enforcement officers. Read More »

Treasurer’s Message

Prior to completing this Conference financial report, I spoke with Mark Sikorski of UBS Financial Services, and he told me that our investments were down 0.24%, and that is with 25% of our monies in fixed income/bonds. The S&P for the same period is not doing much better, which is a difference from last year when our investments were up 19%. Obviously, we would be doing much better if all of our monies were in stocks; however, there needs to be some security built into our investments. Since Mark and I began managing these accounts, our reserves have increased from $2.05 million to just shy of $6 million. Read More »

Treasurer’s Message

As mentioned in a past article, PORAC fared well during an audit of our prior year’s financials. However, in a management letter, the auditor noted a few areas of concern, including segregation of duties and oversight of chapter funds. PORAC controller Kim Busman refers to the management letter as a report card of her ability to properly manage PORAC’s finances. The size of our organization makes it cost prohibitive for us to segregate duties because we would need a much larger accounting department. Read More »

Treasurer’s Message

PORAC’s Budget Committee and financial team — Executive Committee Directors Barry Donelan, Randy Beintema, Anthony Sanders and Gary Moore, President Brian Marvel, Vice President Brent Meyer, Finance and Administrative Manager Kim Busman and I — have been busy through this budget cycle. The committee continued to focus on areas of the budget where we felt the organization could be more efficient. Read More »

Treasurer’s Message

Last year’s audit is now completed and PORAC fared well. We had the usual challenges, which the auditors delineated to the Board of Directors. The concerns were discussed and the Board understands the reason for these challenges. In addition, I was provided with direction to resolve those issues 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. When you deduct our unrealized gains and losses on our investments, we ended up with a surplus. By the time you read this article, the Budget Committee will be well on the way toward presenting the proposed 2019 budget to the Board of Directors. Read More »

Treasurer’s Message

Your Budget Committee is hard at work. While we are just approaching the halfway mark for 2018, we have already begun working on the 2019 budget. There are innumerable variables that affect our budget every year; as such, we need to begin analyzing what those variables are to predict and prepare a good working plan for next year. Read More »

Treasurer’s Message

The California Peace Officers’ and National Law Enforcement Memorial ceremonies are fresh on my mind as I write this article. As always, they are somber occasions filled with grief and sorrow from the family members, friends and colleagues over the passing of fellow peace officers. Consequently, the events are a source of reflection on the inherent dangers of our profession. Regardless how long we have been peace officers and how invincible we believe we are, the ceremonies are a solemn reminder of our own mortality. Read More »

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 »