2024 - Your Commission at Work

On behalf of your NCSPC Finance Committee, a few thoughts from Chairman Thomas Joyner

The Finance Committee oversees the allocation of funds collected through assessments and outside sources. As we reflect on another challenging year for growers, we know it’s more important than ever to be as strategic as possible to maximize your assessment dollars for the annual budget created for the benefit of our growers and industry. Financing the efforts to achieve our goal of creating demand for NC sweetpotatoes is evaluated through many checks and balances before any expenditure is committed. This is conducted to ensure an adequate budget is leveraged to make the largest impact on our industry as a whole. Additionally, this past fiscal year, we were fortunate that our elected officials of the NC General Assembly recognized the positive impact our industry brings to the state. Through their acknowledgment of the financial impact our crop annually contributes, they allocated funds specifically for marketing activities to be used both domestically and internationally to enable us to continue the promotional activities we would have had to stop otherwise, due to the reduction in acreage.

FY 24-25 Budget Percentage Allocation

We are proud of our efforts. Even with a weakening economy that presents challenges to the industry on all levels, we have thoughtfully created a budget to be effective and execute our mission of increasing sweetpotato consumption. This graph is a visual representation of the 2024-2025 budget allocation. Financial audits are conducted annually, and members have the opportunity to review audited financial statements at our Annual Meeting, held on the third Thursday of each January. Having exemplary audits year after year provides our members with confidence that the financial affairs of the commission are where they should be.

ADMINISTRATION

21%

RESEARCH

32%

MARKETING

47%

We offer our sincerest appreciation to our members who, even during challenging years, faithfully pay assessments to ensure the efforts laid out in our annual budget are met. This resiliency shows the strength of our unified industry to financially bolster the positive momentum in marketing, research and education.

Finance Committee

Thomas Joyner, Chairman Rob Hill Kim LeQuire Sarah Caraway Craig West

Michael Wood Brent Leggett

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