by Phil Heagy (Treasurer, ARLIS/NA)
Treasurer is completing the first year of a two-year term.
Treasurer training meeting with Trudy Jacoby, outgoing Treasurer; Hartford, 6-7
ARLIS/NA Annual Meeting, Saint Louis, 20-26 March 2002 (including Pre-Conference
and Post-Conference ARLIS/NA Executive Board meetings)
Planning Advisory Committee (CPAC), Baltimore, 7-8 June 2002
meeting with Visual Resources Assn Board
members Mark Pompelia, John Taormina, and Ann Thomas to discuss proposed budget
for the ARLIS/NA Joint Task Force on Continuing Education’s “Summer
Institute in Management of Visual Resource Collections” (planned for Summer
2004); 19 July 2002
Mid-Year Executive Board Meeting; New York City, 10-11 August 2002
NARRATIVE / GENERAL COMMENTS:
the third year of the Society’s relationship with Clarke Management Services
(CMS), this Treasurer finds the Executive Director’s office a very efficient,
professional and pleasant partner in sustaining and advancing societal financial
operations and goals. Recurrent procedures such as the monthly check run, issuance
of monthly Society financial reports, submission of U.S. Internal Revenue
Service forms and payments (1099/96; Exempt Organization tax returns, etc.) are
coordinated smoothly among CMS, our auditors (Mills, Rouse and Company) and the
Treasurer. The Treasurer has
obtained Tax Deposit Coupon Books which should further smooth our tax return
reconstituted ARLIS/NA Finance Committee, chaired by the Past-Treasurer with the
Treasurer as Board liaison, held its inaugural meeting at the Saint Louis
Conference. A major decision resulted in the transfer of $100,000 USD
from the ARLIS/NA bank account into the Society’s investment account with
Charles Schwab & Co., Inc., with the above sum allocated as the initial
balance of the newly-created Reserve Fund (a member of the Restricted Funds
family of ARLIS/NA assets). The
Reserve Fund goal is to provide an emergency revenue source equal to a minimum
of 50% of annual ARLIS/NA operating expenses.
Despite the continuing poor
economic climate, our investments have
made steady if unspectacular gains throughout the year, thanks to timely
decisions of the ex-Treasurer and her fellow Board members prior to the present
Treasurer and Past-Treasurer are completing a thorough revision of Section J of
the ARLIS/NA Policy Manual (“Finances”).
The undertaking of this project has revealed an acute need to also
overhaul the “Financial Information for ARLIS/NA Executive Board Members”
section of the Society’s website.
Treasurer, utilizing societal financial statistics from 1999 through 2001,
produced a July 2002 report to the Executive Board entitled “What Does it Cost
ARLIS/NA to Maintain a Member?” Substituting
predicted 2003 financial results for the above time period, the thus-modified
report will provide a basis for the upcoming recommendations of the ARLIS/NA
Task Force on Membership Dues Structure, of which this Treasurer is a member.
the prospect of a dues revision in mind, the 2003 ARLIS/NA Operating Budget
(approved at the August 2002 Mid-Year Executive Board Meeting) was predicated
upon a particular concern for statistical realism.
While not abandoning the prevailing philosophy of “budgeting expenses
high and revenues low,” an attempt was decidedly made to predict financial
results as accurately as possible, with the best interests of the Membership (vis-à-vis
dues obligations) uppermost in Board members’ minds.
the above Mid-Year Meeting several changes to the “Restricted Funds” asset
family were approved and subsequently effected by the Treasurer and ARLIS/NA
Publications Restricted Fund was dissolved and its balance transferred to the
Conference Speakers Fund, for the moment fully capitalizing the latter and
enabling a possible inaugural use of fund monies to defray some speaker expenses
of the upcoming 2003 ARLIS/NA Conference.
25th Anniversary Fund has been re-named the Travel Grant Fund.
Research Fund will be re-named the ARLIS/NA Internship Fund, pending any final
requirements of the Research Committee.
satisfying (to this Treasurer)
financial outcome of the Mid-Year meeting is the increased economic support to
be given to Board members, including waiving of conference registration fees and
partial funding of hotel room charges (both of which apply also to incoming
part of the Past-President’s overall project to revise the Conference Planning
Manual, the Treasurer submitted suggested changes to the "ARLIS/NA
Treasurer Role" section of the revised manual. The
Treasurer has good lines of communication established with the 2003 Annual
Conference budget planners and regularly receives updated copies of the
conference budget. A 2003
Conference Fundraising Guide has been issued by the
Chair of the ARLIS/NA Development Committee.
the Chair of the Development Committee is very pro-active and, along with
committee members, quite capable of initiating and following through with
development projects without a high level of liaison contribution from this
Treasurer. In addition to the
fundraising guide cited in the previous paragraph, the Committee has issued an
updated Prospects List for 2003; assisted in the revamping of the ARLIS/NA
Membership Form; initiated the Society Circle fundraising
concept; and is actively assisting fundraising efforts for the upcoming
2003 ARLIS/NA Annual Conference.
publication of the Society’s Update
is now largely web-based, with members paying an additional fee for a paper
copy. Despite these cost savings to the Society, the expenditures
for the publications program must continue to be carefully monitored.
goals of this Treasurer include the above-mentioned revision of the
“Financial Information for ARLIS/NA Executive Board Members”
document; the re-organization of past Treasurer files with an eye toward
selective discarding (in
consultation with Headquarters and our auditors); and the compilation of an
informal Treasurer’s training manual.
Treasurer would like to thank the staff of ARLIS/NA Headquarters, particularly
Bonnie James, for patience in answering questions and diligence in discharging
the financial responsibilities of the Society.
Special thanks are also due to the President, Past President and
Past-Treasurer of the Society for assisting this Treasurer in understanding the
overall workings of a complex organization operating in difficult financial