FROM THE TREASURERAuthor(s): Jack RobertsonSource: Art Documentation: Journal of the Art Libraries Society of North America, Vol. 7,No. 4 (Winter 1988), p. 149Published by: The University of Chicago Press on behalf of the Art Libraries Society of NorthAmericaStable URL: http://www.jstor.org/stable/27947958 .

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Art Documentation, Winter 1988 149

FROM THE TREASURER From the vantage point of early October we may view both

the ARLIS/NA fiscal year just completed and the new budget for Fiscal Year 1989 which commences on October 1st. The view is very good indeed! The total income line for FY '88 attained 116% of the budgeted figure while the total expense line was only 95.6% of the planned $170,000 in expenditures.

The income total is, in a sense, distorted on the positive side by the fact that over $14,000 was realized from the highly successful fund-raising drive (this is the "Other" budget line) as opposed to the predicted $1,000. But even subtracting this one line out of the totals, Income exceeded the budgeted figure by over 8%. The net result for ARLIS/NA during FY '88 is an increase of the Reserve Fund by over $30,000. A further indication of the Society's financial well-being is

the steady increase in Net Worth. At the beginning of Fiscal Year 1986 this figure was only about $28,000; beginning of FY '87 it was $49,730; for '88 (that is October 1st, 1987) it was $75,578; and now beginning the 1989 budget year our total is $118,813. This means, among other things, that the goal es tablished by the Executive Board in February 1986 to build up our financial reserves to 50% of the annual operating budget has been attained.

Now our task will be to maintain and expand this financial base. With this in mind, I will prepare a report and recom mendations to be presented to the Executive Board in Phoe nix on possibilities for safely extending our investments in mutual bond funds. At the present time ARLIS/NA has just under $7,000 in the Fidelity High Income Fund that has been yielding between 10 and 12 percent since our initial in vestment in the fall of 1986. I believe that an additional in vestment of up to 25% of the Reserve Fund in a similar bond fund would be both safe and profitable for ARLIS/NA in the long run. The budget for Fiscal Year 1989 is a reflection of the So

ciety's ongoing activities, and the figures are based largely on patterns and predictable expenditures documented by past performance. There is no element of speculation or risk taking. In many cases, because of very good day-to-day ad ministration of the Society's activities and expenditures, many budget lines have not had to be increased from last year to this year. Postage, which I had expected to overrun the budgeted figure by as much as 33% because of the sub stantial rates increases in the spring, did exceed the '88 al location by 12.5%. For FY '89 this expense line was, therefore, increased from $3,000 to $4,000. On the other hand, we were able to reduce the allocation for Membership Directory by $500, and the total Management Fees line was increased by only $2,400.

Several new lines were added to the ARLIS/NA budget for this current fiscal year. First, on both the Income and Expense side, a special Fund-Raising line has been designated in order to account for monies taken in and expended in connection

with special fund-raising events and campaigns. After the success of the 15th Anniversary Occasional Paper fund raising campaign, the Executive Board and the Development Committee have decided that future fund raising should also be focused on specific needs of the Society. So, for example, at the Phoenix Conference there will be a special fund-raising cocktail event on Saturday evening complete with door prizes (like last year). In this case the goal is to raise $3,000 to purchase desktop publishing software and a computer laser printer so that everything emanating from the ARLIS/NA Headquarters will be much enhanced in terms of appearance and format. The Executive Board is committed to this project to the point that the additional $3,000 needed for these pur chases will be provided from the Society's existing Fund Raising Account. The $3,000 to be drawn from an existing fund accounts for the fact that the Expense side of Fund Raising is listed at $6,000 in the budget whereas income is anticipated at only $3,000. This, in turn, explains the apparent $3,000 deficit between income and expenses in the overall budget.

One other new line in the budget for expenses is listed as "ARLIS Archives Rental." At only $380 this storage space rental is not a significant item in terms of dollars, but, on the other hand, the activity this line represents is tremendously significant as it reflects the Society's initial steps toward gain ing sound control over nearly 20 years of archives and

documents. At the present time we are looking forward to the restruc

turing of many of the operational groups in ARLIS/NA in order to facilitate the Society's growth and expanded ac tivities. At the same time, the prospect of continued growing financial strength for funding publications, conferences, re gional activities, and special projects is very promising. I be lieve that the laudable reserve fund goal set by the Board several years ago, now having been achieved, provides the Society with a secure and stable financial basis. Now, along with restructuring, ways must be examined and imple mented to utilize these financial reserves to the best ends of both the Society at large and of individual members.

Jack Robertson ARLIS/NA Treasurer

STATEMENT OF OPERATIONS FY 1988 & Budget for FY 1989

'88 Budgeted '88 Realized '89 Budget Income

Operations: Membership . $ 69,000.00 $ 73,765.20 $ 71,000.00 Conference. 61,000.00 69,459.78 66,000.00 Advertising . 14,000.00 13,019.75 14,000.00

Other: Publications. 12,000.00 9,574.19 10,000.00 Mailing List . 8,000.00 9,422.00 9,000.00 Interest . 5,000.00 7,935.16 7,000.00 Fund Raising . - -

3,000.00 Other. 1,000.00 14,101.20 2,000.00

TOTAL INCOME . $170,000.00 $197,277.28 $182,000.00

Expense Management Fees . 50,360.00 50,360.00 52,760.00 Telephone. 1,500.00 1,085.26 1,500.00 Equipment/Supplies. 1,000.00 510.27 1,000.00 Travel/Mileage. 2,000.00 2,497.37 2,000.00 Art Documentation . 25,000.00 27,011.44 25,000.00 Printing/Publications .... 6,640.00 5,737.88 7,000.00 Membership Directory .. 7,500.00 6,824.23 7,000.00 Postage/Mailing . 3,000.00 3,376.37 4,000.00 Conference. 45,000.00 45,370.72 52,000.00 Dues/Subscriptions . 750.00 737.95 750.00 Legal Accounting . 1,000.00 1,629.60 1,000.00 Executive Board . 4,400.00 2,600.00 4,400.00 Muehsam Award . 250.00 .00 250.00 Committee Expenses .... 2,800.00 210.75 2,800.00 Chapter Expenses. 1,000.00 475.00 1,000.00 SIG/TOL Expenses . 1,800.00 965.88 1,800.00 ARLIS Archives Rental ... _ _ 380.00 Fund Raising . _ _ 7,500.00 Advertising

Commissions . 3,500.00 2,547.00 3,500.00 Reserve Fund. 8,500.00 8,500.00 7,000.00 Contingency . 4,000.00 2,102.08 2,360.00

TOTAL EXPENSE . $170,000.00 $162,541.80 $185,000.00

REVENUE/ EXPENSE ... -0- $ 34,735.48 $ (3,000.00)

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