ARLIS/NA Finance Committee
by: Trudy Jacoby, Chair (Ex-Treasurer)
Phone: 609-258-5853 / Fax: 609-258-0103
Jacoby (continuing chair)
2002 Committee Members:
Starr, Allen Townsend,Ted Goodman, Karen McKenzie.
Board Liaison: Phil Heagy.
Incoming 2003 Committee Members:
Townsend, Jeanne Brown, Daniel Starr, Carol Graney.
Board Liaison: Phil Heagy
membership, plans, etc.
has been major rethinking of the role and membership of the ARLIS/NA Finance
Committee during this year.
The committee is now made up of people well acquainted with the financial
matters of ARLIS/NA (mostly members of the Executive Board) with a revised
charge as an advisory committee to the Executive Board.
The major project for this year was the work on the rewriting of policy
manual and other society financial areas.
This will continue and hopefully be completed next year.
This includes Section J and Financial Information for Board Members.
monitoring of funds and advising on investments was quite simple this year as funds
were transferred to low risk instruments in order to be consistent with the
allowable investment instruments as stated in the Policy Manual Section J.
I suspect that few organizations were as well positioned for the market
turndown of the past year.
This is a matter of great satisfaction for the committee.
Refine methods for overseeing the Society’s investments which include:
determine a methodology by which information concerning endowment management is
gathered from other similar organizations, establish guidelines for reviewing
the statements, and maintain a chart providing an overview of income and fees.
Write guidelines for the use, establishment, and distribution of short-term and
long-term funds. (IV B)
current work of rewriting Policy Manual Section J relates to item 2 of the
Work will continue on this and also on related sections of documentation
such as Financial Information for Board Members.
The Strategic Plan items will also be examined in light of the current
investments that were chosen to eliminate any risk to capital.
Long term guidelines and oversight methods will be examined.
for the Executive Board
(concerns, suggestions for additions to Strategic Plan, etc.)
Board is much more fully involved in financial oversight than it had been.
The Treasurer with the Executive Board made great steps in reorganizing
the restricted funds.