Robert M. Calvani, FAIA, NCARB

2017-2018 Treasurer

Financial Highlights

 

  • We served our members and Record holders for an eighth consecutive year without fee increases.
  • We negotiated a lease for a new office that will save the Council approximately $5 million dollars over the next 15 years.
  • We funded our short-term reserves to the maximum established by the Council’s financial policies.
  • The Strategic Reserve Fund is at the highest level in the history of NCARB.
  • We have begun marketing NCARB-proprietary software, which we hope will produce new revenue streams for the Council.

There are four major topics covered in this report:

  • The financial results for Fiscal Year 2018, which ended on June 30, 2018;
  • The state of the Council’s financial accounts;
  • The proposed budget for FY19, as well as anticipated financial outcomes for the next few years; and
  • New business opportunities.

FY18 Year-end Results

 

  • The purple section of the chart shows 94 percent of the net revenue was generated by exam activity—in both ARE 4.0 and 5.0—that exceeded expectations. We always experience increased testing levels in the existing exam when it will be replaced by a new version, so this was anticipated. Even so, actual testing volumes still exceeded those elevated expectations.
  • The orange section of this chart shows that 4 percent of the net revenue came from a healthy pipeline of licensure candidates, surpassing expectations for pre-licensure services.
  • In the green section, the final 2 percent of the net revenue came from architect services, mostly related to reciprocity transmittals and other small revenue sources.

 

  • We have increased our checking account balance since June 30, 2017;
  • We have fully funded our short-term reserve portfolio;
  • We have added to our Strategic Reserve Fund; and
  • We have improved and upgraded our operating systems.

Council Financial Health

 

FY19 Budget

 

  • ARE 5.0 has six divisions rather than the seven divisions of ARE 4.0. This represents an approximate 15 percent decline in the number of divisions that will be administered each year.
  • Additionally, we experienced an unusually high volume of exam deliveries as we delivered both ARE 4.0 and 5.0 concurrently, until June 30, 2018, when ARE 4.0 was discontinued.

Long-range Forecast

 

 

Cash Flow

New Business Development

 

Financial Highlights

FY18 Year-end Results

Council Financial Health

FY19 Budget

Long-range Forecast

Cash Flow

New Business Development

 

NCARB 2018 ANNUAL REPORT

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