Governance

NAIFA 2009 Audit Report Now Available

NAIFA’s bylaws require that the secretary of each member association receive NAIFA’s balance sheet and statement of receipts and expenditures as soon as possible after receipt of the Auditor’s annual report. The NAIFA Audit Committee has recently received and approved the issuance of this report, and the report has been posted on the Annual Reports, Policies and Financial Statements page of the NAIFA website. It is available for NAIFA members only.

Although NAIFA revenues for fiscal year 2009 increased over the prior fiscal year, net assets declined, largely due to the decline in financial markets and the resulting effects on investments, both the Reserves and the Pension Plan.

For more information: Contact Paul Wessel, Vice President, Finance & Facilities, (703)770-8119.