We ended 2012 with just over $40,000 in income, including royalties from the journal at $33,454. We were able to reduce our newsletter costs from 2011 by using the website for more detailed reports, a savings of almost $800 from the previous year. The 2013 year should provide even further savings following the board’s decision to distribute the newsletter electronically, which is treasurer's report estimated to save another $4,000 in costs. In considering what our members needed, we learned from APA that over 90 percent of our readers used email regularly for communication and that most other divisions had already shifted to an electronic format, which benefits the environment as well as the budget.
After contributing to the foundation, our final expenses totaled just over $37,000. We remain strong in our net assets with investments totaling over $43,000.