ARCHIVED: AALL Financial Directions: 2006-2010

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AALL Financial Directions: 2006-2010

Preamble

AALL has been able to support its core programs and member services from annual operating revenues. Annual Meeting net revenues contribute significantly to this success. Yet, in adopting a new and ambitious Strategic Direction, 2005 - 2010, AALL must seek additional revenues and other resources to implement this new plan that contains many non-revenue generating activities. Such activities will require financial support from dues, grants or contributions.

Long-term financial health is crucial. The Finance & Budget Committees defines financial health as meeting the following criteria:

Income sources from dues, registration fees, advertising and other sources are stable, predictable and reliable.

Association revenues are adequate to support core programs.

Discretionary funds from investments and contributions are available to support innovation and new programs and services.

There is minimal or no reliance on "soft-money" that is unpredictable and might be encumbered by restrictions controlled by donors.

Raising funds from the corporate sector has always been important to AALL and the Association has been moderately successful. During this planning cycle staff and Finance & Budget must review current practices and plan for an expanded and increasingly effective fundraising effort in the future. The experiences of other similar associations might provide guidance for AALL.

What is the potential for individual member contributions through annual and planned giving opportunities? What do individual members customarily support? What is the most effective method to reach individuals? What are reasonable fundraising targets for AALL in the future? Are some programs and services more attractive to donors? What policies are needed to strike the right balance between programs supported through dues and other operating revenues, and those supported by outside funding?

Outcome 1: AALL maintains financial health and independence.

1.1 OPERATING REVENUES AND EXPENSES ARE PROJECTED ON A MULTI-YEAR BASIS, AND ARE ADEQUATE TO SUPPORT CORE PROGRAMS AND SERVICES, INNOVATION, AND MEET MEMBER NEEDS AND EXPECTATIONS.

1.2 PROGRAMS AND SERVICES ARE AFFORDABLE TO MEMBERS.

1.3 SOLICITATIONS FOR CONTRIBUTIONS ARE BASED ON REALISTIC TARGETED AMOUNTS AND A CLEAR UNDERSTANDING OF THEIR INTENDED PURPOSES

Implementation Steps:

Staff and Finance & Budget will work together to identify funding sources for AALL activites.

1.4 RESERVES ARE SUFFICIENT TO PROTECT THE ASSOCIATION AGAINST CONTINGENCIES.

1.5 INVESTMENT FUNDS (PIF) ARE PROPORTIONAL TO AND AT LEAST EQUAL TO ANNUAL OPERATING REVENUES AND ARE BUILT ON SOUND INVESTMENT POLICIES AND STRATEGIES

1.6 MEMBER DUES AND BENEFITS ARE BALANCED PROPORTIONATELY AND DUES ARE SET AT A LEVEL ACCEPTABLE TO MEMBERS

Implementation Steps:

The Treasurer will describe our current financial picture - without reference to a dues increase - to members in AALL Spectrum and other communication vehicles.

The Executive Board will discuss dues and reach consensus of any future direction.

The Finance & Budget Committee will explore a range of benefits for individuals: continuing education, networking, scholarships and grants, LLJ as a publication vehicle for academics, awards and recognition for achievements, and placement.

The F&B will determine the appropriate amount for individual member dues.

Outcome 2: AALL enables its members to assume leadership roles in the legal information environment.

2.1 FUNDS ARE AVAILABLE TO SUPPORT THE PROFESSIONAL GROWTH OF MEMBERS.

Implementation Steps:

The Finance & Budget Committee will work with the Executive Director, the Director of Finance and Administration, and AALL staff to find ways to maximize AALL�s financial position.

The Finance & Budget Committee will recommend ways to restructure committee funding to allow committee members greater freedom to achieve their objectives.

Outcome 3: AALL provides continuing education opportunities to its members

3.1 FUNDS WILL BE AVAILABLE TO SUPPORT CONTINUING EDUCATION ACTIVITIES.

Implementation Steps:

The Finance & Budget Committee will recommend to the Executive Board that a certain percentage of the annual budget be devoted to continuing education.

The Executive Board will support the offering of continuing education activities on a cost recovery basis.

3.2 AALL WILL SEEK OUT WAYS TO PARTNER WITH RELATED ENTITIES IN OFFERING CONTINUING EDUCATION ACTIVITIES

The Executive Board will authorize the Executive Director to fill the vacant position formerly held by the Director for Education. This position will be re-configured to that of an Education Manager.

Outcome 4: AALL maintains an active commitment to advocacy on information policy issues.

4.1 FUNDS WILL BE AVAILABLE TO SUPPORT ADVOCACY EFFORTS

Implementation Steps:

The Finance & Budget Committee will recommend that the transition fund for the Government Affairs Office be grown to an acceptable level.

The Finance & Budget Committee will recommend that the Government Affairs Fund be fully funded.

The Finance & Budget Committee will recommend that funding be made available to train members to advocate for improvements in their professional lives.