Committee: Finance Committee

2025 Mission:
The mission of the Finance Committee is to provide a measure of control to the overall financial condition of the Minnesota State Fire Chiefs Association (MSFCA). We review the short- term and long-term finances of the MSFCA to investigate alternative and innovative financing methods. We do this to ensure stability in the solicitation of revenues and to monitor and review the annual budget.

2025 Report:
I’m pleased to report that the MSFCA ended 2024 with a positive cash flow! Much of this success is credited to our association management firm, Association Resource Center, which continues to do an excellent job of ensuring expenses remain in line with revenue. Revenues have been steadily increasing each year. The primary revenue source for the MSFCA is conference attendance, followed by the vendor Bugle Sponsorship program, magazine advertising, and the Fire Officer and Training Officer Schools.

In January 2025, the board adopted the annual budget with no major changes to revenue or expense projections. While the Association’s reserve and investment accounts remain in a healthy position, the committee is continuing to work with the Board of Directors to grow our reserves.

The Association also engaged Wegner CPAs to conduct a financial audit for 2024. We are pleased to share that the audit was clean, with no findings related to our financial operations, and our tax returns were filed on time.

In the coming months, the committee will begin developing the 2026 budget, with anticipated board approval in January 2026.