However, as we start 2022—and as my term as ALA treasurer winds down—I have much good news to share regarding ALA’s financial situation. First, the ALA Executive Board, Budget Analysis and Review Committee (BARC), and Finance and Audit (F&A) Subcommittee worked closely with ALA leadership to balance expenditures on the revenue base and adjust them … Continue reading Building ALA’s Future
In 2020, the Executive Board, Budget Analysis and Review Committee, Finance and Audit Subcommittee, and member leaders extensively reviewed and discussed the Association’s fiscal management practices and the changes that have exacerbated past revenue gaps and declines. We are fortunate to have our new executive director, Tracie D. Hall, steer operational and staffing decisions as … Continue reading ALA’s Financial Future
I start my tenure by reporting mixed results for our finances, but I am optimistic about the work being done to advance libraries. In 2018, the ALA Executive Board approved a plan to strategically invest in three critical areas: information technology, advocacy, and development. Over a three-year period already underway, $8.8 million has been dedicated … Continue reading Achieving Our Vision
While these successes are worth celebrating, there are still many challenges ahead as we focus on achieving our mission in a forward-looking, financially sustainable manner. The General Fund posted an operating deficit, albeit a much smaller one than in the past two years. Midwinter Meeting results missed expectations as our very talented and committed Conference … Continue reading A Year of Progress
Similar to last year, our actual results differed from our budget: Overall net expense was 1% larger than projected. Although our budget results were not favorable, they were much closer to projections than in previous years. Among revenue sources, publishing revenue of $11 million and membership dues revenue of $5.3 million were lower than projected by 11% … Continue reading A Tough Environment
For fiscal year 2016, which just closed, I am glad that ALA came very close to its budget, with operating revenues of $50,815,693 and operating expenses of $51,259,221. It was a rather challenging year. We include a number of activities for our revenue: publishing ($11,705,837), Annual and Midwinter meetings ($5,564,072 and $2,785,904, respectively), membership ($5,515,846), … Continue reading A Look at ALA’s Finances
The final audit for the 2015 fiscal year will be presented at the 2016 Midwinter Meeting in Boston. However, I would like to share with you now that preliminary results show a positive outcome for the Association. Overall, revenues generated by ALA and its divisions were 5% higher than expected, while expenses were slightly lower. … Continue reading Financially Healthy
Several times during the year, I report back to the membership on the financial health of the Association. Over time, these reports have shown a steady growth in the financial strength and capacity of the Association. As I have said before, we continue to be completely transparent and regularly communicate with the membership about the … Continue reading Financially Healthy
This is my first column as ALA’s new treasurer, and I would like to use this opportunity to share with you my overall observations about ALA’s current financial situation. Despite the recession, ALA is a financially viable and financially solvent organization. One of these strengths is the fact that the Chicago headquarters—both 40 East Huron … Continue reading ALA: Dollars and Sense
The past year has been challenging for ALA, reflecting both the difficult economic conditions affecting libraries across the US and our continuing focus on a strong Association that serves its members and supports the work of libraries and the needs of their users. ALA is ending FY2012 with a deficit. This reflects lower-than-expected revenue from … Continue reading Background on Our Budget
