Calculating error at PRSA puts hold on hiring, printing

NEW YORK: Citing a budget miscalculation, the PRSA has put a freeze on hiring any new staff and will delay printing of The Blue Book and the winter issue of the Strategist magazine until next year.

NEW YORK: Citing a budget miscalculation, the PRSA has put a freeze on hiring any new staff and will delay printing of The Blue Book and the winter issue of the Strategist magazine until next year.

NEW YORK: Citing a budget miscalculation, the PRSA has put a freeze on hiring any new staff and will delay printing of The Blue Book and the winter issue of the Strategist magazine until next year.

The decision was announced by PRSA treasurer Joann Killeen, who sent a letter to assembly delegates explaining the financial state of the organization, and the reasons for its net operating loss of dollars 426,288 for last year.

The letter, stating that the PRSA was 'under budget by dollars 500,000 on revenues and over budget on expenses.'

A formal financial management study approved earlier this year will have to be postponed 'because we can't afford to pay for it right now,' Killeen said.

PRSA had agreed to complete its 1999 audit by the first quarter of this year, but that was postponed due to concerns about how the group accounted for its deferred dues. Killeen blamed the deficit on the increase in deferred dues, its annual conference loss, the board's approval of investment spending from reserves and other accounting problems.

The PRSA's CFO resigned earlier this year after it was announced that the 1999 conference had lost money due to low attendance.

The PRSA has put a freeze on staff hires, delaying until next year its addition of a chief administrative officer and a Web master. There will also be a reduction in the staff travel budget.

All members receive The Blue Book, a popular directory that lists the phone numbers, addresses and e-mails of PRSA members.



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