AIHP's Financial Activity Summary 

Statement to Members - As part of our fiduciary responsibility as your Board of Directors and our commitment to openness and to providing you assurances that the assets of your association are being properly accounted for, the Board engaged the accounting firm of Legare, Bailey, & Hinske, LLC to perform an annual accounting review. 

The review has been completed for the year ended December 31, 2016.  The Independent Accountant’s Review Report letter sent to AIHP’s Audit Committee is provided below, as is a summary of the financial activity and financial position of your Association as of December 31, 2016.  The report has also been provided to the Board of Directors and the Finance Committee. We are pleased with the conclusion stated in their letter.  Your CEO and Board are working responsibly on your behalf.  We welcome any thoughts and comments?  You can email Rob - rob@independent-innkeeping.org or Dallas Renner (AIHP Treasurer) - dallas@independent-innkeeping.org

Accountant's Review Report

AIHP's Financial Summary 

 For the Period Ended December 31, 2016

 Summary of Financial Activity

 Revenue                                $370,651

Expenses                               $461,900

Change in Net Assets            $(91,249) 

 Summary of Financial Position

Assets

Cash                                                  $50,061

Other Current Assets                        $29,615 *

Total Assets                                       $79,676

Liabilities & Net Assets

Liabilities                                             $71,400 **

Net Assets                                          $8,276

Total Liabilities & Net Assets              $79,676

For the Period Ended December 31, 2015

Summary of Financial Activity

Revenue                                 $205,001

Expenses                               $105,476

Change in Net Assets            $99,525 

Summary of Financial Position

Assets

Cash                                                   $200,683

Other Current Assets                         $24,473 *

 Total Assets                                       $225,156

Liabilities & Net Assets

Liabilities                                             $125,631 **

Net Assets                                          $99,525

Total Liabilities & Net Assets              $225,156

Other Current Assets next year expenses, primarily for the annual Summit, that were prepaid in current year. They are taken into expenses in the next year.

** Liabilities are payments of next year Summit Revenues and Membership Dues that were received in current year. They are taken into revenue in the next year.