Magazine article American Libraries

ALA Financial Performance Outstanding, Galvin Reports; Major New Programs and Activities under Way

Magazine article American Libraries

ALA Financial Performance Outstanding, Galvin Reports; Major New Programs and Activities under Way

Article excerpt

ALA financial performance outstanding, Galvin reports; Major new programs and activities underway

Executive Director Thomas J. Galvin had good news for Executive Board members* when they met for their fall meeting at Headquarters Oct. 28-29, shortly after the stock market plunged.

* President Margaret Chisholm, President-elect F. William Summers, Immediate Past President Regina U. Minudri, Treasurer Patricia Schuman, Patricia Wilson Berger, Margaret L. Crist, J. Dennis Day, Elizabeth D. Futas, Duane F. Johnson, Carla Stoffle, and Lucille C. Thomas. Summers was absent Oct. 26.

The unaudited general fund performance results for FY 1987 are outstanding, Galvin reported. "Revenues totaled $12.9 million as compared to expenses of $12.2 million. The excess of revenues over operating expenses of $717,000 is substantially greater than the budget of $245,000,' he announced.

"Strong performance can be found in virtually every area . . . membership dues revenue exceeded budget by $122,000 and our publishing program had a record year, with especially impressive net results recorded by Booklist, $247,000, and American Libraries, $91,000' (see publishing story).

Approximately 200 new life members were enrolled in FY 1987, resulting in a net transfer of $284,000 to the Endowment Fund, Galvin said. The impressive net revenue of the record-breaking San Francisco conference ($896,000) was not included in the calculation. Fortunately, the ALA Endowment sold some $100,000 in securities to cover the amounts due in the Carnegie and Melcher Funds late in August, when the market was at a peak. Chief Financial Officer Susan Odmark estimated the potential impact of the stock market crash was a paper loss of $200,000-$300,000 on the $1 million stock portfolio, but said "We haven't liquidated.'

Galvin's proposal to add two new positions to the Conference Arrangements Office won approval of the Committee on Program Evaluation and Support (COPES) and the Executive Board. The unbudgeted $42,000 for the remainder of FY 1988 will be covered by the contingency reserve.

COPES report

Agnes M. Griffen, COPES chair, reported that two subcommittees are reviewing the structure of future indirect cost studies and the basic support provided to divisions. The subcommittees will provide information for the final draft of the new Operating Agreement, "Policies of ALA in Relation to Its Membership Divisions,' which will be reviewed at the Midwinter Planning and Budget Assembly. The board advised COPES of the concerns regarding the scheduling of division conferences and asked management to develop a complete and specific procedural statement spelling out the notification and consultative process with the chapters before the operating agreement is completed. The board asked staff to prepare a data collection and analysis procedure to examine the impact of national division conferences upon ALA and its membership units. The board also endorsed the preliminary budget instructions for divisions and asked management to prepare an in-depth analysis and recommendation on a budgetary ceiling methodology for the entire Association by Midwinter Meeting.

The board requested that the appropriate documents from the Special Committee on ASCLA (the Association of Specialized and Cooperative Library Agencies) dealing with shared division staffing be sent to all divisions for their reactions and comment to COPES at the Midwinter Meeting. J. Dennis Day and Elizabeth Futas voted in the negative.

Candidates forum scheduled

Responding to Council's request for an open meeting at the Midwinter Meeting for ALA treasurer candidates to speak, the Executive Board scheduled a general forum for both ALA president and treasurer nominees Jan. 11, 8-10 p.m. Board members voted to invite other ALA units to participate in the general forum if they wished, recognizing that several groups already have planned candidates sessions. …

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