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Richard Laurion

Treasurer’s Report

by Richard Laurion


It is a great honor to serve as your Treasurer. I appreciate the trust you have given me and I take my office responsibility seriously. Attached are the quarterly financial statements for your review.
During the CIT non-conference year our Association cash-flow always take a dip. We typically see a drop in membership without a conference to draw people in. This drop in numbers puts a serious restriction on our revenue and impacts what we can spend. The work of the Board however, does not ebb or flow with the size of our membership. If anything the Board’s work increases. The Board needs to meet regularly and uses video technology to improve our communication effectiveness and reduce face-to-face meeting costs. Still at times, the board needs to get together in one location. On average each face-to-face meeting can cost CIT about $10,000 (flight, lodging, meals and misc.). This year however, due to the clever work of our Board members we were able to cut our costs for meetings in half. We have already had a face-to-face meeting in February and will have a strategic planning meeting at the end of May. Each will cost us just half of what is typical. I am excited by the commitment that I see in your Board leadership and I want to thank them for working hard to conduct the business of the Association in a fiscally responsible way
If you have any questions or comments feel free to shoot me an email –

Profit and Loss sheet
Balance Sheet