Finance Committee Annual Report 2018

submitted by Anna Kijas, Chair

Current Roster

  • Anna Kijas, Fiscal Officer, Chair
  • Susannah Cleveland, Vice President/President-elect
  • Beth Iseminger, Assistant Fiscal Officer
  • Mark McKnight, President
  • Tracey Rudnick, Assistant Administrative Officer
  • Janelle West, Administrative Officer

List of Previous Goals and Progress Made

  1. The Finance Committee met once in FY18 (face-to-face at the 2018 Middleton meeting) and carried out other business by email.
  2. The Finance Committee assembles the annual budget for Board approval. Balancing the budget was made possible by making certain adjustments to the anticipated income and expenses, based on the practices of previous years, as well as noting some overall trends.
  3. Membership rates for FY19 were increased by $10 for all members with the exception of student, paraprofessional/non-salarie /part-time member dues which remained the same as in FY18; and sustaining members which increased by $20. MLA IAML dues were increased by $5 for CY19. (Details about rates and fiscal/calendar year cycles can be found at https://www.musiclibraryassoc.org/page/JoinMLA).
  4. Honoraria amounts are in a transitional  period (policy set at 2014 Atlanta meeting). The only adjustment made for FY19 was for NOTES Assistant Editor C, which changed to gratis membership/registration due to roll-over in editors.
  5. Conference registration rates increased for all member types with the exception of reduced for work and regular student rates which remained the same as in FY18. In addition, the category: “1st 3 years; paraprofessional/non-salaried/part-time; retired member” was changed to “1st 5 years; paraprofessional/non-salaried/part time; retired member” in order to use language consistent with MLStEP’s definition of an emerging professional and the Reduced Registration Program’s definition of a new member.
  6. We recommended using a portion of the allowed income from the MLA fund to help balance the budget. With use of the MLA fund, the budget was in the black and approved at the Board meeting in Middleton, WI (May 2018).
  7. Updated language in the Fiscal Policies Handbook to reflect policy changes, correct typographical or editorial issues, and ensure overall consistency across the MLA handbooks and manuals.
  8. Data visualizations examining trends in MLA membership, dues, and conventions were created and accompanied an article discussing fiscal activities in the MLA Newsletter, May-June 2018 issue (http://newsletter.musiclibraryassoc.org/index.php/newsletter/article/view/307/333).

List of Future Goals

N/A