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Annual Conference Highlights
AEM Financial Update
 Here is an overview of the association’s financials for 2003 and 2004.
For 2003, AEM is forecasting a break-even from operations. This is after your association added some $900,000 in appropriations to the operating budget, and achieved additional spending efficiencies of $639,000 required by the loss of dual member dues from the consolidation of EMI and CIMA.
Previously, appropriations and grants had been a separate item, drawn from non-operating reserves. Now, the association uses these reserves for additional industry enhancing projects.
The 2003 revenue budget was $10.6 million, and the spending budget was $10.5 million (including appropriations).
2004 Budget Approved
For 2004, the revenue budget is $10.1 million, and the spending budget approved by the Board of Directors is $9.7 million.
The construction equipment restricted reserve stands at $16.7 million – up $2.3 million from 2002. An example of how AEM has utilized this reserve is the matching-funds initiative to spur reauthorization of highway funding legislation.
With this program, the association is matching member contributions to the Transportation Makes America Work (TMAW) campaign. To date AEM and its members have contributed a total of more than $652,000 to the campaign.
Appropriations to Advance Industry Causes
AEM provides funds to many allied industry and business groups and coalitions to advance issues important to the equipment manufacturing industry.
As noted earlier, these contributions totaled some $900,000 in 2003. Organizations receiving support included the American Road and Transportation Builders Association, Ag Council of America, national FFA organization, The Road Information Program, the Associated Equipment Distributors educational foundation, and the American Society of Agricultural Engineers.
Annual Audit to be Conducted
The audit of 2003 AEM finances will be conducted during the first quarter of next year. Members may review the results at the association’s headquarters office in Milwaukee.
AEM Annual Conference Highlights: "Going from Good to Great" >>
New Directors Elected >>
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