NU Online News Service, Dec.7, 4:05 p.m. EST
The National Association of Insurance Commissioners adopted a $70.9 million operating budget for 2010 at its winter meeting in San Francisco.
NAIC's outlay includes total revenues of $73.6 million and total expenses of $70.9 million, which it said represent a 0.7 percent increase and an 0.8 percent decrease, respectively, from the 2009 budget, for $2.7 million in projected net revenue.
Among the items is $252,000 for commissioner travel to NAIC National Meetings and $250,000 is earmarked for needs-based Grant Funds for NAIC National Meetings.
Net revenue for 2010 was projected as $2,663,271 compared with $ 1,578,892 for 2009. The expense increase listed for salaries was $2, 049,347.
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