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Dear ACP Members,
Due to a communications mix-up, we were unable to present the ACP financial status at the Annual General Meeting during CP2021. We've now attached the two-page picture of the numbers.
1) While COVID-19 and the online conferences have seriously hit our income, they have also meant substantially reduced expenditures. Our balance is up a bit from one year ago at 58,099 euros. Based on still pending commitments and transactions (notably the CP2019 profit), we are expecting a balance of a bit more: 64,500 euros. So we are in good shape.
2) Looking at the balances over the last 15 years, we are pretty stable around 60,000 euros, even with the variety of situations that we had to contend with over that period.
3) As we are a not-for-profit organization (registered in France), we cannot carry too much of a balance without the chance of triggering an investigation into our accounts (to determine if we really are not-for-profit). The magic number seems to be about 60,000 euro.
4) As a result of #2 and #3, the ACP Executive Committee is aiming at (slowly) drawing down our balance to a range of 40,000 to 50,000 euros. No commitments have been made but we are considering prioritizing: the ACP website, Diversity, Equity, and Inclusion initiatives, and efforts to raise the profile of CP. The EC would also like to invite suggestions and proposals from the community.
5) The budget outlook for CP2022 is in-line with recent in-person CP conferences, with the organizers budgeting for a small profit to act as a buffer for minor unexpected events. There is still a bit more than usual uncertainty due to the coordination with the FLoC organizers and the possibility of having to move online. These liabilities are limited based on FLoC's arrangements with the venue and we are confident that the ACP reserves will be able to handle these and any other major contingencies.
Chris Beck, ACP President Sophie Demassey, ACP Treasurer
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