Thursday, July 31, 2008

NFRC Reports on Financial State

The Board meeting continued Thursday morning with a financial report from NFRC Executive Director Jim Benney.

Benney noted the 2007 audit was completed and NFRC received excellent remarks from the auditor.

Benney also touched on the 2008 financials. “A big portion of our revenues are PCP fees and we have more manufacturers participating in our program,” said Benney. “However, with the down housing market there are less labels being sold.”

NFRC forecasts a balanced budget through the remainder of 2008.

The full report will also be posted on the NFRC Web site.

No comments:

Post a Comment