AMS Team Travels to Atqasuk and Wainwright to Conduct Finance Seminars for Paannaq Program

AMS Paannaq eldersOn November 18 and 19, ASRC Energy Services, Marine Support (AMS) employees Jessi Lynn Smith and Marshall Blankenship travelled to the villages of Atqasuk and Wainwright to conduct financial workshops on how companies determine payroll and billable rate hours. Over 19 ASRC shareholders participated in the seminars which utilized the scenario of an imaginary construction company in Nome, Alaska to demonstrate how a billable rate is determined. The presenters explained how to determine a new billable rate for the construction company employees, using a predetermined overhead pool, and a fixed rate of pay. The presentation then began to look at different costs, investment rates, and rates which compose a billing rate.

During the presentation in Atqasuk, Paul Bodfish, ASRC Board Director, was in attendance and helped explain how critical the determination of an adequate billing rate is for the ASRC Board of Directors. He lead a discussion on the aspect of billing for investment recovery, stressing how the maximum utilization and adequate billing rate for leased equipment is essential for any business, especially one like ASRC, which operates the majority of its assets in a harsh climate.

Following the workshop, the team hosted a game of Bingo where participants were asked to mark and cover some of the key terms used in the presentation. The intent of the game was to create an informal and fun atmosphere, while still focusing on the topic of a billing rate. All participants were offered refreshments and the winners of the bingo games were offered prizes.

Following the presentation in Atqasuk, the staff was invited to participate in a lesson on sewing and net making giving them an opportunity to interact one-on-one with members of the community and learn traditional skills.

Established in 2009, the ASRC Energy Services Paannaq Program is focused on economic development, advancing entrepreneurship, capacity building, collaboration with local organizations, and social investment. The purpose of the program is to connect AES and the communities of the Arctic Slope in a partnership that enriches the lives of the residents, promotes Iñupiat Values, and enhances economic sustainability. Each of ASRC’s seven subsidiaries partners with one or more villages in the region as part of program, and AES’ main partnerships are with the villages of Wainwright and Atqasuk.