It has been an interesting and defining year for our businesses, country and association.
As our economy stays in a state of flux and the construction industry activity is
slow, we are fortunate that our industry does not have to rely predominately on
the new construction market for strength; rather we are able to benefit from reroofing
opportunities. While we all are working harder than ever, I want to let you know
your association is doing the same.
Although many revenue vehicles for the association dropped this year, we continued
to adjust and do more with less. We revised and updated many of our manuals and
programs and offered a wide range of new products. We increased our online educational
opportunities to allow you to provide training on your own time.
This year involved many changes, and we took some unprecedented steps within NRCA.
We had to make sacrifices while trimming our budget throughout the year to prepare
for the future, including working with a leaner staff. Our intention was to position
the association to be lean and strong. There is no doubt we are in a far more stable
place now with the changes behind us, and I believe we are positioned to move forward
in a positive, better direction.
One area we examined this year was how our association receives funding. For the
past several years, we have been able to rely on investment income to support our
operations. The investment income came from a long-term fund we created in 2004
when we sold our trade show. This year, we restructured the budget so investment
income now will be off-budget; any investment income will be used solely to fund
projects, not operations, in the future—and only after it is earned (and consumer
price index [CPI] adjustments have been made).
The plan is to be conservative in this approach. First, we will re-establish the
corpus, including CPI adjustments. Then, when we have a good year, we will spread
(ladder) the returns over the next five years, putting the money into fixed-income
investments. That way, we can smooth any bad years in the market and have funding
even during down periods. Ultimately, this process will enable NRCA to be self-supporting
while allowing our committees and staff to have funds for work that is beneficial
to our members and the industry.
I would like to thank our NRCA staff members for their expertise, professionalism
and tireless efforts. For many staff members, their work is more than a job, and
we are fortunate to have them with us. I thank all who volunteered for committees
and served on our board, sharing their knowledge to improve our industry. To my
friends on the Executive Committee—Don Guthrie, Jim Eckstein, Nelson Braddy, Rick
Steinrock, Tim Rainey and Will Fort—your dedication, service and willingness to
give was unparalleled. Bob Daly and Rob McNamara served on the Budget and Finance
Committee, and it was an honor and a pleasure; I thank them for working so hard
on NRCA's behalf.
Serving as NRCA president has allowed me to work with and learn from the best and
brightest in our industry who serve you—our member—every day. I thank all of you
for your continued support and hope you understand and appreciate what your staff,
board of directors, Executive Committee and former presidents do to make NRCA, now
a 123-year-old association, all that it is.
I assure you the next year under Rob McNamara's leadership will strengthen NRCA
and continue to make it a valuable partner for your business.
Thanks for your continued support.
Very truly yours,
Rob Therrien
NRCA President 2008-09