Annual Financial Report
BEA’s fiscal year operates on a calendar year, January 1 – December 31. We conduct an audit at the conclusion of each fiscal year to ensure our financial practices are stable and sound. We hire an accountant to assist in the management of our record keeping and an outside firm for the audit.
The revenue and expenses represent BEA’s annual operating budget. While BEA had a slight loss in the Net Operating Budget for FY2016, take note that as of December 31, 2016, BEA reported over 1.5 million in assets, including both restricted and unrestricted endowments reserved for scholarships and operating reserves.
On the “Expenses” chart below, Administration/Operations includes: salaries, benefits, health insurance, accountant fees, taxes & audit, any web based activity, bank fees, postage, phone, board and travel related expenses.