Special Review: Autism Society of North Carolina

August 21, 2008 During the fiscal year ended June 30, 2007, a revenue shortfall of $1,263,055 from budgeted projections was the primary cause of a decrease in net assets of $1,507,174 for the year. As a result, The Autism Society had to liquidate assets to meet current obligations (including payroll). The shortfall in budgeted revenue resulted from a variety of causes that included: Failure to consider the effect of unfunded program activities when developing the budget   Overestimating the amount of contributions   Overestimation of services revenue due to changes in state mental health payment rates that included . . .