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Numbers tell the story of the basics of AAP finances

All Academy members receive an AAP Annual Report, which in part features a financial statement. I would not be surprised to learn that most people have some difficulty reviewing and understanding the complexities of financial statements. At the same time, however, I believe it is very worthwhile for every AAP member to understand the basics of AAP finances.

First, you should understand that the Academy has grown into a big business. The total AAP budget for 1986-87 will amount to more than $17 million. Only six years ago, the budget was less than half of that amount. I should note that $1.3 million of the total budget is the annual payment for the new building and represents the "pass through" payment of pledges for that purpose. As you can tell from the numbers, we could not function very efficiently without the sophisticated computer equipment that we installed a few years ago.