2022 APNA Treasurer’s Report

Dear Colleagues,

Kristen Kichefski,  APNA Treasurer

I am pleased to provide the APNA Treasurer’s Report for the most recent fiscal year, 2021. The audited financial statements for the year ending December 31, 2021 can be found in the Appendix. This report shows the complete APNA financial position to include charitable donation activities. All APNA financials are under the stewardship of the APNA Board of Directors.  The results show a positive return from operations of $1,079,105.

In an effort to oversee the integrity of its financial statements and maintain a system of internal control, APNA established an Audit Committee to review the results of the audited financial statements with an independent auditing firm annually. Last year’s audit resulted in a “clean” opinion with no material misstatements.

In addition to the statements discussed above, we have prepared the following charts reflecting the revenues and expenses and the net operating results from January 1, 2005 through December 31, 2021.

The Board of Directors functions as the investment committee for APNA funds. It utilizes the services of an investment manager who invests the funds in accordance with the APNA investment policy. The investment policy calls for a diversification of funds with moneys invested in cash, equities, bonds and real estate. The following charts show the results of APNA investments from July 2003 through June 2022.  APNA investments have returned a total of $1,415,678 over that period.

Through frequent communication and consultation with our investment advisors, we believe that the APNA portfolio is well-diversified and therefore positioned for long-term success. Guided by our investment policy statement, we will continue to monitor and assess market conditions in anticipation for brighter days ahead. The good news is that our investment strategy is such that we are truly focused on the long term, which enables APNA to stay the course while the market corrects.

It is my honor to serve as APNA Treasurer and I appreciate the support of staff, the Board and the members who make these positive results possible.

Kristen Kichefski, MSN, MBA, RN-BC
Treasurer