Finance Committee Annual Report 2019

submitted by Beth Iseminger

Current Roster

  • Susannah Cleveland, President (2019-2021)
  • Beth Iseminger, Fiscal Officer (2018-2020)
  • Mark McKnight, Past-President (2019-2020)
  • Tracey Rudnick, Administrative Officer (2019-2021)
  • Anne Shelley, Assistant Fiscal Officer (2019-2021)
  • Janelle West, Assistant Administrative Officer (2019-2020)

List of Previous Goals and Progress Made

  •  The Finance Committee met in person at the 2019 spring Board meeting in Middleton and carried out other business via email.  During the meeting, the Committee discussed the proposed annual budget and examined ways to balance the budget. As of the conclusion of the spring meeting, the budget had a deficit of under $6500. This figure was low enough that the Committee decided not to recommend any spending from the MLA Fund for FY20. In addition to the convention budget and overall expenses and income, specific issues discussed during the meeting included: streaming access to convention sessions and possible fees, board travel policies, payment for monographic series editors, and dues for the new early career membership category.
  • Membership rates and IAML dues for FY20 stayed the same as the previous year. Conference registration rates remained the same. Advertising rates remained the same, except for the online full add ($200, had been
    erroneously listed as $400) and the online sidebar ad ($150, was inadvertently left out).
  • Honoraria amounts are in a transitional period per the policy set at the 2014 Atlanta meeting. The only adjustment made for FY20 was for the NOTES Music Editor, which will turn over to a new editor mid-year. The incoming editor (mid-year) will change to gratis membership and registration.
  • Work is ongoing on Fiscal Policy Handbook updates as needed.

List of Future Goals

  • Support the Strategic Action Plan by considering fiscal priorities and how they relate to organizational goals.
  • Continue working toward a balanced budget.