Chief Financial Officer, Jim Livingstone, provided us with a succinct summary of business-related highlights. Among the items you should be aware of are:
- The warehouse just completed the end-of-the-year physical inventory and is ramping up receipts for the new school year. About 75% of materials are shipped out during August and September.
- We implemented Concur travel and expense reporting for those who travel frequently. The system has greatly improved efficiencies in travel booking and reporting expenses. We expect to roll out the system to all employees over the next six-to-nine months. It will not be mandatory to use Concur for expense reporting, but it should be more efficient than using a paper expense report.
- With pay increases effective July 15, it may be a good time for employees to review their 401k contribution. Employees can contact HR or Brian Hamilton at brian.m.hamilton@ampf.com or 330-595-1700.
On another finance-related note, Evan-Moor reports that they’ve been busy with preparation of the budget for 2019–20, which has now been submitted.