May 14, 2012 - Miami, Florida, United States...Libna Stevens/IAD
Administrators and leaders at the Inter-American Division Publishing Association (IADPA), one of two publishing houses operated by the Seventh-day Adventist Church in Inter-America, gave their financial report for 2011 and announced new projects to board members in Miami, Florida, on May 9, 2012. The report came as the dozens of church leaders throughout the church in Inter-America gathered for the first of two annual business meetings.
As it stands, IADPA has an operating capital of 84 percent and a liquidity of 39 percent, reported Liza Christian, vice president for financial affairs for IADPA.
According to Pastor Pablo Perla, president of IADPA, liquidity was low because of increased ink and printing costs, existing inventory, and a number of accounts still unpaid, stated Pablo Perla, president of IADPA.
The challenge of decreasing the inventory was among the concerns mentioned during the board meeting. Administrators reported that the inventory was reduced from $8 million in April 2010 to $5.9 million in April 2012 -- a significant accomplishment, said Perla. Plans are to reduce the inventory by the end of the year to $5 million, he added.
Board members approved the audited financial statement for 2011 after recommendations by eight auditors on issues of internal control were read and discussed.
IADPA leaders presented checks to the president of the church in Caracas, Venezuela, and the president of the church in Bogota, Colombia--two of the three largest cities in Inter-America, as specials funds to further the work in ministering in those cities.
A number of upcoming books and resources were presented, including the launch of the "Bible Stories I Can Read By Myself" series, and new publications for colporteurs, Sabbath School new believers, young adults, and children. Newly contextualized editions of Bible textbooks for elementary levels in English and French were also presented.