2008 Treasurer’s Annual Report

The 2007-2008 fiscal year is now over, and ASHI ended the year with a modest loss of $93,883. It should be noted that $57,446 was an unrealized loss on investments, which reduces our actual operating loss to $36,437. This is actually quite positive considering the state of the housing market and the economy. It should also be stated that in fiscal year 2006-2007, we ran a surplus of $193,780. This puts us ahead by almost $100,000 from two years ago. ASHI continues to support a policy to strengthen reserves, and we have budgeted for a surplus for fiscal year 2008-2009. We intend to use this surplus to continue our efforts to build reserves and strengthen ASHI so that we can continue to provide the products, services and educational resources our membership desires. The Finance Committee views itself as stewards of the membership’s resources, and we are guided in that responsibility to make wise fiscal decisions.

ASHI has just completed its annual independent audit performed by Desmond and Ahern Ltd. This once-a-year process takes place to assure our membership that our financial house is in order.

Our membership can take pride in the fact that ASHI remains in a strong position to continue to serve their needs.

ASHI continues to be diligent in managing its resources, and we have pledged to keep dues at the same level for 2008-2009. ASHI’s executive director and Richard Bennett, ASHI’s director of finance, work hard behind the scenes to keep a close watch on expenditures. Given the impact a slowing housing market in many areas of the country is having on the home inspection industry, retention rates for certified members have continued to be strong, but Associates appear to be having more difficulties succeeding. This translates to reduced membership retention for new people in the business.  For this reason, we must work extra hard to be wise stewards of our resources.

ASHI remains committed to being the voice of the home inspection industry. Our core values have not changed in that we embody the highest standards and ethics of the industry. We believe that when consumers seek out a qualified inspector, they should choose an ASHI inspector. We continue to allocate our resources to media outreach and have a new PR firm, Gibbs and Soell, to get the word out to the public. No other home inspection organization can match the media penetration that ASHI has achieved.

I have been proud to serve as your treasurer for the last three years and am thankful that you have elected me to serve as president-elect for 2009. I feel that I have more work to do in service to ASHI, and I hope to continue to build upon the trust that the membership has bestowed upon me. It has truly been a rewarding experience.