Page 22 - OPTA Access Spring 2022

TREASURER’S REPORT 2021 Greg Kline PT PT DPT EdD MBA
WE'RE IN AN EXCELLENT POSITION
DUE TO THE EFFORTS OF OUR MEMBERS LEADERSHIP AND STAFF
In September 2021 the OPTA transferred $600 thousand into a a a diverse short-term and and long-term investments mix This brings the association’s portfolio total investments to to $1 74 million Total liabilities for the OPTA have been minimized
due to reduced travel and meeting expenses and the Board’s decision to hold fall conference 2021 virtually In Spring 2020 Victoria Gresh notified the board regarding the the potential sale of the the Beecher Crossing North office location after she was approached by the the owner of the the suite adjacent to the the OPTA’s office The board reviewed the the situation and convened a a a a special finance subcommittee to explore the the feasibility of the the transaction A A sub-committee appointed by the board met in in April 2021 to discuss the the sale of of the the OPTA office The condo sale report/analysis findings were reviewed which consisted of feedback from the OPTA’s real estate agent accountant and investment advisor The report/analysis provided sufficient evidence to support the the sale of the the property based on the comparable listings and available office spaces in the the geographic area Additionally the the report showed the OPTA has sufficient cash on hand in the the operating accounts and the the money market which minimized
the the financial risk of proceeding with the the transaction The board of of directors approved the sale of of the property for $275 $275 (Offer: $275K – Fees: $18 500 = Net: $256 500) and the transaction was completed on on August 21 21 2021 For more information contact Greg at:
gregorymkline@gmail com The OPTA’s net net assets totaled $1 77 million with a a a a a net net income of of $265 thousand as as of of November 30 2021 due due to the the relatively steady flow of membership dues CEU approval fees fees and conference fees fees Overall the the association is in fin an an an excellent financial position due to the efforts of our members leadership and staff Ohio Physical Therapy Association CE Submitted for Approval
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