Always interesting - you have to really read the notes.
The National Council’s controlling interest in its unrestricted net assets decreased by $6,479,000. The decrease in net assets was driven by payments made to the Boy Scouts of America Retirement Plan for Employees totaling $14,400,000 claims and provision expense related to the General Liability program totaling $57,427,000. Offsetting the decrease in net assets was increases in investment income totaling $58,745,000.
Total expenses increased by $19,864,000 to $283,604,000 in 2017, up from $263,740,000 during 2016. Of this increase, $33,221,000 relates to cost attributed to the 2017 National Scout Jamboree. Offsetting the increase are declines in expenses attributed to pension and insurance cost of $13,564,000 (Note under REVENUES that Fees increased in 2017 by $24,426,000 primarily due to the 2017 National Scout Jamboree - so I guess we lost $9,000,000 at Jambo)
The National Council’s financial condition for 2018 and the next few years will depend, in large part, upon three factors.
The first is the outcome of the litigation discussed within this report (see Note 9) and the impact to GLIP (Note 7).
The second lies with the success of securing donations for the Summit project in order to continue to pay bond payments as scheduled and maintaining compliance with debt covenants.
The third factor is the economy and legislation and their effect on market conditions and liquidity requirements.
Quite a few notes and comments on Summit - Here is one
In March 2012, the National Council issued debt to finance the development of the Summit. $175,000,000 in 10-year, tax exempt bonds was added to the existing 2010 Series A and B bonds, and the 5-year $50,000,000 line of credit was increased by $25,000,000 to $75,000,000. Bond issuance costs were $100,000. The Series A bond was paid in 2015 and the Series B bond has monthly principal and interest payment with a balloon payment of $40,363,000 due in 2020. The $175,000,000 bonds payable, requires monthly interest and principal payments with a balloon payment of $136,834,000 due in 2022.
You do not want to emulate Scouts Canada's new program. It's a couple of years in and there is still quite a bit of confusion as to how it is all supposed to work.
For starters, imagine taking most of your merit badges and making them optional for the program. Then have each Scout come up with his/her own requirements to get the badge. http://www.scouts.ca/wp-content/uploads/s/s-pab-guide.pdf
They have opted for a more "Choose your own Adventure" style of requirements for the top awards so now you can get every top section award (equivalent to Life, Eagle etc) without spending a single night camping.
Well, I start with this observation. Since the whole girls in scouting "conversation" started about this time last year, we've been consistently told we don't need to change because we have what families want. If we have what families want, why would the BSA look any different in few years than it does today?
@gblotter, I don't see an eminent bankruptcy from the LDS departure, however, membership fees will rise from $33/person to $40/person and unit insurance/recharter fees will rise from $40/unit to $50/unit. That will happen with the recharters this fall so the BSA can bank a little cash while they hope for membership gains in 2019. If membership gains aren't realized they'll be raised again the following year. The loss of FOS contributions will hollow out the intermountain west resulting in camp sales, layoffs, and consolidations. Unfortunately the vortex created by the LDS departure will also damage community units due to loss of critical mass for resources.
@gblotter is absolutely correct that the OA will lose the NA trappings and probably the name as it won't make sense across Venturing, Boy Scouting and Sea Scouting. The Ordeal will become a quaint bit of scouting history, as will the free labor and extra dues generated.
However, now that the OA has set the precedent for First Class equivalencies, a path to Eagle will be created for Venturing (basically allowing them to work on Star Life and Eagle) and Sea Scouts. Sea Scouts will ignore it but they may get some Venturers to work on Eagle especially if they don't have to join a Troop. Once that boundary is crossed Scouting BSA will quickly become the middle school program (11 - 14 year olds).
The fully co-ed option is a foregone conclusion. I doubt it will be mandatory for several years but it will be an option by this time next year at the very latest. Wouldn't surprise me to see the announcement after the fall National Council/Board whatever meeting. The third G will fall next year as well. Local option of course but Reverent will become Spiritual or something new age-y like that.
@FireStone's description of Creek Stewart succinctly captures the battle for the soul of the BSA. The Cynic in me says Creek hasn't been more fully utilized, a la Bear Grylls, because the BSA leadership has exactly the same thought. Creek's easy outdoor nature and "medicine man vibe" plays well with parents and boys in Peoria, but not so well in NYC or SF or LA or CHI. The LDS departure vortex may spread into the non-urban central parts of the nation before the damage is finished.
I'm a survivor of the ISP. Luckily I had a SM who ignored National's direction. Modernized programs, simplified uniforms (don't want to look military), non-traditional badges (have to appeal to all the youth we don't serve) and activities (the outdoors is nice but there's lots of other activities). It's deja vu all over again. But I suspect you're right we'll head down that path again.