2022 Atlanta Board of Trustees Meeting

4) Taking all things into account (Investments and Operations), is the net worth of OMA more or less between fiscal year 2020 and 2021 and by how much? OMA’s net worth is calculated as such: Total Assets--Liabilities=Net Worth. OMA’s net worth increased by $902,444 during 2021. It grew from $5,417,432 at the beginning of 2021 to $6,319,876 at the end of 2021 and the total assets increased by $1,536,136 during 2021, which began at $6,506,756 and ended at $8,042,892. OMA’s liabilities increased by $633,230 during 2021 (from $1,089,324 to $1,723,016), of which a large portion of the increase was due to the Payroll Protection Program (PPP) loan of $205,600 which has been forgiven (OMA will not have to pay this back). The PPP loan did not affect revenues or net income during 2021, but it will increase revenues during 2022. 5) In fiscal year 2022, independent of anticipated money deposited to investments or withdrawn from investments, is OMA budgeted to make or lose money and by how much? Currently, OMA’s approved FY2022 budget is projecting a loss of $(351,360), however, with the current operating income at $125,000 more than budgeted, the projected operating income could be reduced by at least that amount at this point. As noted below, with active cost containment strategies in place, we are hopeful that we will realize a favorable profit in 2022 versus the projected loss of ($351,360).

FY 2022 1 st Quarter (1/1/2022-3/31/2022) Budget Overview Budget Actual

Difference

Revenues

$1,354,920

$1,366,224

$11,304

Expenses

$923,820

$809,293

($114,527)

Net Operating Income

$431,100

$556,931

$125,831

Takeaways for the BOT: • Expense containment practices as highlighted during the January 2022 BOT meeting are effective thus far. • The amount of liquidity (cash) including investments from Stifel are positive by $469,785 from March of 2021 to March 2022. • Membership growth and retention is strong for the first quarter of FY2022 as noted in the graphs below from March of 2021 to March of 2022.

2