The Commission is now realizing the fiscal consequences of the ongoing global crises, which have resulted in significant inflationary pressures this year. However, the Commission has been able to maintain operations, reducing total expenses for two consecutive years and ending the year with a positive operating cash flow while reducing dues by 30 percent without having to withdraw funds from its long-term investment accounts. Still, the disparity between revenue and expenses has necessitated increased transfers from the cash reserve balance.

Since the last dues increase in 2009, the Commission’s operating deficit has increased by approximately 33 percent due to cumulative inflationary growth. Despite strong financial management that resulted in the Commission finishing the last five fiscal years under budget, its total operating expenses are expected to exceed existing dues and interest income. To effectively plan for the Commission’s future, the Finance Committee has proposed a minimal dues increase beginning in fiscal year 2024.

The Decennial Census review also occurred this fiscal year, resulting in a Commission vote to maintain the six-tiered dues structure and formula. Total dues revenue increased by slightly more than one percent.