A conservative approach to the budget, while remaining aggressive in delivering tools and services — that’s how newly elected vice president and vice chairman of the Board, Jonathan Perry, Fayetteville, Tenn., describes the American Angus Association’s approach to financials. Every entity had a positive bottom line, and managed to balance revenue even as inflation grew costs as well. The Association has a strong investment portfolio, which rebounded to an 11% gain after last year’s 15% loss. Nearly 70% of that investment income is restricted, or earmarked for specific needs that the previous Board identified such as building maintenance, technology upgrades or scholarships. “We had a great year. Just remember that one of the reasons we are where we are today is because we had foresight in individuals that sat on this board way before we did that watched that bottom line and left the funds available for us to be able to utilize them when things came along that we needed to add to or invest in for our membership.”Listen to the Tennessee cattle breeder give a full update in this piece from the recent Angus Convention.RELATED READING:American Angus Association Concludes Strong Fiscal Year)New Leadership Elected to American Angus Association Board of Directors )
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