ARCHIVED: Financial Policies (Revised April 2013)

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Revised July 2009
Revised and Approved by the Executive Board July 2009

This document repeals and re-enacts all previous financial policies of the American Association of Law Libraries.

I. General Policies

  1. The Association, as a not-for-profit organization incorporated in the District of Columbia, is entitled to exemption from federal and state income taxes under the provisions of Internal Revenue Service Code, Section 501(c)(3), except for any income generated from unrelated business activity.

  2. The Association's Strategic Directions, adopted on a regular basis by its Executive Board, has the force of policy.

  3. The Executive Board has both authority and responsibility for all activities of the Association. Executive Board policies apply to all Association activities.

    1. The Board must approve all additions or changes to the Association's financial policies. Once approved all financial policies will be incorporated in the next revision and distributed to the Board at its November meeting. (July, 1995 Board Meeting - Tab # 3B, page 2009)

    2. It is the Executive Board's responsibility to encourage desirable activities by engaging in open and positive discussion of all aspects, including the realistic expectation of the need for resources and the likelihood of acquiring those resources.

    3. All proposals and/or activities to be held under the aegis of AALL that will require funding or other resources from the Association or outside organizations must include a budget reviewed by the Finance and Budget Committee and approved by the Executive Board prior to implementation.

    4. If funding is to come from outside source(s), such funding must be secured before irrevocable commitments have been made.

  4. The Association's fiscal year begins October 1 and ends September 30.

  5. The Association's membership year begins June 1 and ends May 31.

  6. The Association's year for program and committee appointments begins and ends at the end of the first committee meeting at the Annual Meeting.

II. Governance

  1. The Executive Board

    1. The Executive Board will decide annually which activities will be partially or fully subsidized, and will set appropriate net revenue targets for different activities, depending on their nature, value to the membership, possible fee differentials between members and non-members, and revenue potential. The Executive Board's decisions will be based on the priorities recommended by the Strategic Directions and on recommendation from the Finance and Budget Committee during the budget preparation.

    2. Notwithstanding language in II.4.D below, the Executive Board reserves the right to:

      1. approve changes to the employee benefits package upon recommendation of the Executive Director;
      2. approve the annual average percentage increase in employee compensation; and
      3. approve additions to the list of full-time regular positions.
    3. An independent audit firm shall be chosen by the Executive Board and the firm will present its report to the Finance and Budget Committee annually.

  2. The Finance and Budget Committee of the Executive Board has been established with the following composition and charge.

    1. Composition: Treasurer (Chair), President, Vice-President, and two Executive Board members who shall have at least one full year of Board service and shall be appointed for staggered two-year terms on the Committee. Staff liaison is the Executive Director.

    2. Charge:

      1. Review and modify the proposed annual budget before presentation to the Executive Board
      2. Assist the Treasurer as needed
      3. Review current financial policies and trend data and propose revisions and additions for the Executive Board's consideration
      4. Review the results of the annual audit; meet with the auditor annually; evaluate the auditor relationship at least once every five years and recommend to the Executive Board the appointment of an auditor
      5. Oversee all Association funds
      6. Meet annually with the investment manager to review the performance of the Association's investments (IIB-f revised - July, 1998 Board Meeting - Tab 5, page.)
    3. The Finance and Budget Committee must review all proposed changes or additions to the Association's financial policies and prepare appropriate recommendations for the Board which must approve all additions or changes to the Association's financial policies. Once approved all financial policies will be distributed to the Board at its fall meeting. (added - July, 1995 Board Meeting - Tab 3B, Page 2099)

  3. Treasurer

    1. The Treasurer is responsible for the stewardship of the Association's funds, including:

      1. ensuring accurate and timely financial records -- in conformance with Generally Accepted Accounting Principles;
      2. preparing accurate and meaningful financial reports -- easily comprehensible, concise, all-inclusive, timely and with a focal point for comparison (budget v. amount spent, etc.);
      3. budgeting and anticipating financial problems -- planning ahead for several years to foresee social and economic trends and their influence on the organization;
      4. safeguarding and managing the organization's financial assets -- ensuring adequate internal controls over assets and that cash is properly invested to ensure maximum return;
      5. ensuring compliance with federal and state reporting requirements and
      6. issuing an annual report to the members, which will include the audited financial statements.
    2. In order to assure a smooth transition, the Treasurer provides an orientation for the newly-elected Vice President and Treasurer.

  4. Executive Director

    1. The Executive Director has the full and exclusive authority to oversee the operations of the Association's headquarters.

    2. The Executive Director or a designee may sign checks for all budgeted expenditures and authorize fund transfers. (See section III for policies concerning variances to the budget.)

    3. Certificate of Corporate Authorization to Transfer: The Executive Director may act on behalf of the Corporation with regards to transactions of the Chevy Chase Investment Account (Approved February 1998, Tab 15F)

    4. The Executive Director or designee negotiates and signson behalf of the Association and any of its member units all contractual agreements.

    5. The Executive Director has full and exclusive authority to hire, compensate and terminate Association staff within the approved budget of the Association and to establish the job descriptions, duties, and responsibilities of all staff in accordance with such policies as may be established by the Executive Board.

  5. Director of Finance and Administration

    1. The Director of Finance and Administration shall oversee the daily financial affairs of the Association.

    2. The Director of Finance and Administration shall be the liaison between the Association and the auditing firm hired to review the Association's financial records.

    3. The Director of Finance and Administration will prepare accurate and meaningful financial reports for the Treasurer.

    4. The Director of Finance and Administration will conduct an orientation for the incoming Treasurer in conjunction with the outgoing Treasurer.

III. Budget Preparation

  1. Preparation

    1. The Finance and Budget Committeeconducts a financial overview and orientation for the Executive Board.

    2. The preliminary budget is prepared by the Executive Director with staff input, in accordance with established Board policy and to further the Strategic Plan.

    3. The Finance and Budget Committee reviews the budget guidelines, assumptions, and justifications.

    4. The Finance and Budget Committee ensures the accuracy of all budget estimates.

    5. Budgets for specific activities are developed by the Executive Director and staff with the input of member groups. Budget instructions will be sent to the member units. The deadline for budget requests will be announced annually.

    6. The staff prepares materials for a financial overview and orientation of the Executive Board.

    7. The Finance and Budget Committee brings a budget recommendation to the Executive Board.

  2. Approval

    1. Based on the recommendation from the Finance and Budget Committee, the Executive Board approves the final budget in conjunction with the Annual Meeting, ensuring:

      1. the consistency of the Budget with Association policies;
      2. that expenses do not exceed revenues in any given fiscal year;
      3. that the budget is consistent with the Association's Strategic Directions;
      4. that the proportional allocation of resources is consistent with the Board's priorities;
      5. that the corpus of the PIF is not diminished except in accordance with V.4 (Funds).
    2. If the budget is not approved as presented, it shall be returned to the Finance and Budget Committee with the Executive Board's directions for revision and resubmission.

  3. Modifications to the Budget

    1. The Executive Director may modify the budget within the approved ceiling for total expenses set by the Executive Board.

    2. Modifications and variances to the budget that exceed $10,000 or that materially change the content of the approved budget must be reported to the Executive Board.

  4. Amendments to the Budget

    1. The Executive Board must approve any change to the authorized level of expenditure.

    2. Upon recommendation of the Finance and Budget Committee, the Executive Board may amend the budget at any time by a two-thirds vote (8 of 11 members).

  5. Educational Activities Held Under the Aegis of AALL

    1. Planning for institutes, workshops and all other educational activities includes programmatic, financial and contractual issues. Therefore the decision-making needs to represent the expertise, knowledge, and experience of different groups. Member expertise in substance and selection of faculty and design needs to be complemented by staff expertise related to contractual, planning, educational, and financial needs; responsibility for program relates to planners and the Professional Development Committee Chair. Contractual responsibilities rest with the Executive Director and financial oversight rests with the Executive Director and the Treasurer.

    2. Requests for refunds of registration fees remitted for educational events will be made in accordance with the following.

      1. The request for refund must be made in writing; by mail, fax, or e-mail with the date of receipt of the request the date the request is received at AALL Headquarters.
      2. Institutions that have remitted payment of the required fee are permitted to 'substitute' a replacement attendee from the same institution in place of the original registrant at any time; however, any registrant/institution who cancels and requests a refund of the paid fee will surrender their right to attend the event and a wait-listed registrant will be substituted.
      3. Wait lists of applications received after the event is fully subscribed will be maintained in date-received order. Wait listed applications received with a check enclosed will be held until it is determined that the individual will be admitted or declined at which time the check will be deposited or returned. Applications requesting the fee to be charged to a credit card will be held until it is determined that the individual will be admitted at which time the credit card will be charged.
      4. Applications received without payment will not be registered, or wait-listed.
      5. Requests received at AALL Headquarters more than 30 calendar days prior to the date of the event will receive a refund of 100%.
      6. Requests received at AALL Headquarters between 16 and 30 calendar days prior to the date of the event will receive a refund of 70% with 30% retained as an administrative fee.
      7. Requests received at AALL Headquarters between 15 calendar days and the date of the event will receive a refund of 50% with 50% retained as an administrative fee.
      8. No requests for refunds will be honored on or after the date of the event.
      9. Refunds will not be made until after the conclusion of the event and an audit of attendees.
      10. Exceptions to this policy will be made on an individual basis with the approval of the Director of Programs.
      11. AALL reserves the right to cancel educational activities if there is insufficient registration or for other reasons. AALL is not responsible for cancellation charges assessed by airlines or travel agencies, or other losses incurred due to cancellation of an event.
    3. AALL will offer AALL retired members and student members a $100 registration fee for the Annual Meeting. This registration fee will be the equivalent of a Program Registration.

    4. AALL assumes all financial risk for potential losses from Institutes and Workshops. It retains net revenues generated from Institutes and Workshops. (#5 added March, 1996 Board Meeting Tab # 6i, page 2217)

    5. AALL does not pay AALL members for presentations at programs that are covered by the Annual Meeting registration fee.

      AALL may pay program developers and presenters, whether or not they are AALL members, to develop and present all other education activities that are part of the Association's professional development program, and are not covered by Annual Meeting registration fees. Any fees paid for program development and presentation will be included in the budget for these education activities. (Approved February, 1998 Board Meeting - Tab 8, page 2475)

  6. Pricing

    1. Programs held under the aegis of AALL, products, and services will be priced based upon their assignment to one of four categories: a) profit-generating, b) partially subsidized, c) fully subsidized, or d) break-even. Placement in these classifications will be reviewed by the Executive Board.

    2. At its discretion, the Executive Board may shift an activity from one classification to another.

    3. Uniform methods of accounting must be used, to the extent possible, to assure that all costs, direct and indirect, are accurately included in budgetary estimates and subsequent performance reporting. At a minimum, prices will be based on these factors. Other considerations will include market conditions and the Association's revenue objectives.

    4. The Board, in conjunction with its approval of the Annual Budget, will be informed of the schedule of prices for all products and services contained in the Budget.

    5. The Executive Board will, upon recommendation of the Finance and Budget Committee, reserve the right to set: a) the annual dues level, subject to the vote of the Membership, and b) the registration fees for the Annual Meeting and Institutes, and c) the amount of dues adjustments as indexed to the annual rate of inflation.

    6. AALL charges non-members a 50% premium on products and services. At its discretion the AALL Executive Board may make exceptions to this policy for co-sponsors of Association activities, and for other organizations seeking reciprocal arrangements with AALL. Such exceptions will be reviewed on a case-by-case basis, and will be based on a recommendation from the Treasurer and the Director of Programs. Exceptions will be confirmed with cosponsors and other organizations in a written agreement. (#6 added March, 1996 Board Meeting Tab #6l, Page 2220)

    7. To partially offset overhead expenses incurred in planning and coordinating the Annual Meeting and Conference, affiliate groups who are separately incorporated or who charge membership dues or generate income through other means will be charged a fee per event scheduled at the Annual Meeting. These fees will be set annually during the budget preparation and approval process. These fees will be pre-paid and non-refundable. Exceptions to this policy include recognized AALL entities (SISs, Committees, Task Forces, Working Groups, Registered Caucuses and Chapters) and other informal or ad-hoc groups who are not incorporated or who do not have sources of income. (#7 revised February 1999 Board Meeting Tab 5, Page 2642.)

    8. All product sales by Association entities at the Annual Meeting shall take place only in the AALL sales outlet. The Association will retain a portion of the gross sales in order to partially cover overhead costs. The overhead rate will be discounted from the Association full overhead rate normally attributed to Association activities and will be set annually as part of the budget. The distribution of earnings to the participating groups will take place prior to the conclusion of the Association's Fiscal Year. (#8 added March, 1996 Board Meeting, Tab # 6k, page 2219)

IV. Accounting

  1. The Association uses the accrual basis of accounting.

    1. Unrestricted donations and grants are recorded as income at the time received.

    2. Restricted donations and grants are accounted for as revenue to the extent that expenses have been incurred for the purpose specified by the donor or grantor.

    3. Annual meeting expenses incurred in a fiscal year prior to the meeting are deferred and recognized as expense in the fiscal year in which the annual meeting takes place.

    4. Dues income, excluding the Association portion of the SIS dues, is deferred in twelve equal monthly amounts.

    5. Subscription income is deferred into equal amounts on the basis of frequency; for example, income for a quarterly journal is recognized four times per year in the months when the journal is published.

    6. All other income is recognized at the time of the event.

  2. Depreciation property and equipment are stated at cost and are depreciated over their estimated useful lives as established by GAAP (Generally Accepted Accounting Principles).

  3. Capital expenditures in excess of $1,000 are capitalized and depreciated.

  4. An inventory control system shall be maintained for all capitalized items.

V. Funds

  1. Fund Transfer

    The Executive Board has sole authority to transfer among funds.

  2. General Fund (also known as the Operating Fund)

    The General Fund reflects the current fiscal year's operating revenue, investment earning through its cash management activities and expenses for all Association activities.

  3. Current Reserve Fund

    The Current Reserve Fund is an unrestricted fund governed by the Executive Board. Any excess of revenues over expenses in the General Fund at the end of a fiscal year reverts to the Current Reserve Fund. The investment income from the Permanent Investment Fund in excess of the reinvested amount, and the investment income of the Current Reserve Fund are both deposited into the Current Reserve Fund. The level of the Current Reserve Fund shall be at least equal to the estimated risks in revenues for the year budgeted, as determined by the Finance and Budget Committee. The Executive Board shall determine a maximum level for the Current Reserve Fund if it appears necessary to limit its growth. The Executive Board may allocate Current Reserve Fund monies for non-precedent-setting expenditures.

  4. Permanent Investment Fund

    1. The Permanent Investment Fund (PIF) is unrestricted and governed by the Executive Board. Its purpose is to generate earnings for the program of the Association and to increase Association assets through reinvestment and capital appreciation. The Executive Board has authority to determine the level of the PIF. It shall be invested in a manner consistent with the Statement of Portfolio Investment Policy.
    2. The Permanent Investment Fund (PIF) shall be defined as the market value of the fund as certified in the annual audit for the fiscal year ended September 30, 1996 ($1,675,239) plus all compounded annual additions for each succeeding fiscal year which are based on the compounded value of the Fund multiplied by the Gross Domestic Product deflator (GDP) for the twelve months ended each September 30th thereafter.
    3. The Value of the PIF shall be determined annually at the end of each fiscal year as an amount certified in the annual audit of the Association.
    4. Any excess in the market value of the Association's investments greater than the certified value of the PIF, shall be eligible for transfer to the Current Reserve Fund at the discretion of the Executive Board and shall be subject to the policies governing the Current Reserve Fund.
    5. In the event that, at the end of any fiscal year, the market value of the Association's investments does not exceed the PIF, no transfers out shall be permitted.
    6. The PIF as defined above shall not be diminished, except by a three-quarters (9 of 11 members) vote of the Board. (Revised March 1, 1997 Board Meeting Tab #8 page 2363)
  5. Restricted Funds

    Restricted funds are received by the Executive Board for specific purposes, such as scholarships, awards, and visiting lectureships. Restrictions on use of the income and principal are set by each donor for the specific sub-fund. The Executive Board, by formal action, accepts restricted funds and the terms of those funds. Annual distributions from each Permanently Restricted Endowment Fund will be the sum of the rolling average of the fund's market performance during the preceding twelve quarters, and the current fiscal year contributions (approved by the Board on February 27, 2009 by conference call).

    1. The Scholarships fund is governed by the AALL Executive Board. Its purpose is to generate earning for the annual scholarships program. The Chair of the Scholarships Committee will be informed no later than February 1st of the amount of income that can be allocated for scholarships in that year. (Revised July, 1995 Board Meeting, Tab # 3C, Page 2100.)

    2. The Grant Fund was developed to financially assist librarians who hold promise of future involvement in the law library profession. Grants may be used to support attendance at any Association-sponsored educational activity, including the Annual Meeting and institutes and workshops, by assisting with registrations fees.

    3. The LexisNexis Research Fund will provide grants to library professionals who seek to conduct research that is critical to the profession. Eligibility requirements for the grants will be based on criteria established by AALL.

    4. The Centennial Fund accepts contributions to honor and remember deceased AALL members, law librarians, and others. Contributions can be used for programs or other activities deemed appropriate and approved by the Board. (added November, 1994 Board Meeting, Tab #41, page 2032) (G added March, 1996 Board Meeting, Tab # 6b, page 2210)

    5. FCIL-Schaffer Grant for Foreign Law Librarian. The purpose of the Ellen Schaffer Foreign Librarian's Grant ("Schaffer Grant") is to provide financial assistance to ensure the presence and participation of foreign librarians at the AALL Annual Meeting. Applicants for the Schaffer Grant must be librarians working in foreign countries who have not previously attended an AALL Annual Meeting.

    6. Koslov Scholarship in Court Administration. At the 2000 AALL Annual Meeting in Philadelphia, Marcia J. Koslov announced the establishment of a scholarship program for education in court administration. Specifically directed at members of the State, Court and County Law Libraries Special Interest Section, this scholarship funds the registration to courses presented by the Institute for Court Management of the National Center for State Courts (ICM). A single scholarship will be awarded annually. The recipient must be a current member of AALL and also a current member of the State, Court & County Law Libraries Special Interest Section.

    7. LexisNexis/John R. Johnson Memorial Scholarship Endowment. The AALL Executive Board accepted funding from LexisNexisto establish the first AALL-endowed scholarship in honor of John Johnson. Candidates who apply for AALL Educational Scholarships, Type I - IV, become automatically eligible to receive the John Johnson LexisNexisMemorial Scholarship. No separate application is needed. Scholarships are awarded annually at the discretion of the Scholarship Committee.

    8. AALL & Thomson-West George A. Strait Minority Scholarship Endowment. Awarded annually to college graduates with law library experience who are members of a minority group as defined by current U.S. government guidelines and are degree candidates in accredited library or law schools. West Group donated $150,000 to the George A. Strait Minority Scholarship Endowment

    9. The Holoch Fund. The Holoch Fund is an endowed fund from a contribution received in memory of former member Alan Holoch. The earnings from the endowment are credited to the Social Responsibilities Special Interest Section for use at the Section member's discretion.

  6. Government Relations Fund

    (Established March 1, 1996 Board Meeting - Tab #6c, Page 2211)
    (Revised November 2, 1996 Board Meeting - Tab #9, Page 2315)
    (Revised March 1, 1997 Board Meeting - Tab #7, Page 2360)

    TheGovernment Relations Fund is an unrestricted fund governed by the Executive Board. It advances the Mission of the Association and supports the work of the Government Relations Committee and the Government Relations Office. It provides financial resources to support Executive Board approved projects that relate to federal, state, and local government issues and legislation that may affect the Association and its members. Funds may be used to support testimony, prepare public policy statements, cover legal expenses, prepare legal briefs, and support coalitions or other efforts of library and law related associations.

    The outstanding balance in the Government Relations Fund should be reviewed on an annual basis by the Government Relations Fund Review Committee composed of the Treasurer, Executive Director, and Director of Government Relations. This review should be conducted as soon as possible after the end of the fiscal year. The Government Relations Fund Review Committee should recommend to the Finance and Budget Committee prior to its regularly scheduled meeting any adjustment that is required to be made in order to return the Government Relations Fund to an appropriate level to support the work of the Director of the Government Relations Office over the next fiscal year. Any recommendation from the Finance and Budget Committee for an adjustment to the level of the Government Relations Fund should be presented to the Executive Board at the Spring Board Meeting. At the Executive Board's discretion such adjustments to the level of the Government Relations Fund may be made from a transfer from the Current Reserve Fund, or other sources.

    The Executive Board has the sole authority to authorize deposits to or withdrawals from the Government Relations Fund. Such deposits or withdrawals will normally be based on a recommendation from the Director of Government Relations, but only after appropriate review and approval by the Finance and Budget Committee.

  7. AALL/BNA Continuing Education Grants Fund

    The Fund was established by the Executive Board in November 2006.

    The Fund is a continuation of the former Professional Education Fund, which was also supported by BNA and AALL.

    The purpose of the Fund is underwrite Continuing Education Programs, approved by the CPE Committee, which are held outside of the Annual Meeting.

VI. Assets

  1. Portfolio

    1. The role of the investment manager is to manage the Association's investments and to report to the Executive Board on the results. The manager is to carry out the Executive Board's policy in investing the Association's funds. The funds in the portfolio consist of: 1) the Current Reserve Fund, 2) the Permanent Investment Fund, 3) Restricted Funds. The investment manager makes quarterly reports to the Treasurer and reports to the Finance and Budget Committee at the winter meeting.

    2. The Executive Board sets policy as to how the investment manager is to invest Association funds.

    3. It is the responsibility of the Treasurer and Executive Director to monitor the reports of the investment manager to ensure that the Executive Board's policies are being followed.

  2. Cash Management

    At any given time, the Association will have on hand a certain amount of cash that is not required to meet immediate obligations. This cash should be managed using the following guidelines.

    1. At the Executive Director's discretion, cash may be invested through the investment manager to achieve the highest rate of return.

    2. A minimum of $50,000 is kept in a money market account for liquidity.

    3. The Director of Finance and Administration may manage short-term operating cash under the supervision of the Executive Director.

    4. The Executive Director will report quarterly to the Executive Board on the holdings and income from short-term cash.

VII. Entities

  1. Committees

    1. Upon written request each committee is eligible for an allocation to be used for administrative costs such as postage, telephone, and printing.

    2. If a committee needs additional funds, the Chair shall submit a budget request at the time of the annual budget preparation. Committees have authority to spend up to the amount allocated to them.

    3. Association funds shall not be used for food and beverages for committees at the Annual Meeting. (Revised March 1, 1997 Board Meeting - Tab #9, Page 2365)

  2. Special Interest Sections (SIS)

    1. SIS funds are maintained at Headquarters with other Association funds and are accounted for by standard accounting practices. Requests for payment must be submitted to the Director of Finance and Administration and must include appropriate receipts. Commitments to pay, including contracts of all kinds, must be generated by AALL's Executive Director.

    2. 50% of the dues paid for SIS memberships is allocated to the respective SIS with the balance retained by Headqarters to cover the expense of maintaining financial records and activity, and other administrative functions in support of the SIS. On October 1 of each year, the SISs will be credited with the dues income available to them for the succeeding twelve month period. By October 1 of each year, SISs will be notified of the amount allocated to them from this source.

    3. SISs may carry forward fund balances from one fiscal year to the next. SISs may spend in a given year an amount equal to their previous year's fund balance plus the anticipated revenue for the year.

    4. If an SIS wishes to request additional funding from the Association, it should do so in the Association's regular budget cycle.

    5. If the AALL Executive Board has advanced funds other than dues for an SIS project, the SIS shall reimburse the Association for all appropriate direct and indirect expenses, including AALL's current indirect cost rate.

    6. When Association resources are required, the Executive Director will work with the chair of an SIS to arrive at the most practical and economical way to accomplish the SIS's goal.

    7. The Association will pay for the graphic design of an SIS's brochure every three years. Brochures must be produced by Headquarters. All production costs will be charged back to the SIS's account.

    8. If a contract for a commercially-published SIS publication specifies that royalties will be paid, the royalties will be credited to the SIS. All contracts must be signed by AALL Executive Director. If AALL has incurred any production costs, the SIS will reimburse AALL the actual costs plus the current indirect cost rate.

  3. Chapters

    Local chapters of the Association are separately constituted and are not included in the financial statements. Their decisions and actions are not binding on the Association.

VIII. Development

  1. Annual fund-raising activity.

    Because AALL recognizes the need for a coordinated fund-raising effort, the Executive Board has delegated the following responsibilities to the Executive Director.

    1. All solicitations for funds for all purposes must be coordinated by the Executive Director before potential donors are contacted.

    2. The Executive Director will take into account in coordinating such activities the potential for a major donation from the vendor which might be compromised by a solicitation for a less significant amount.

    3. At each annual meeting, AALL entities plan and host their own social events and other activities that may be fully sponsored or partially supported by an exhibitor, Chapter or a member's institution.

    Sponsorship of an AALL event at the Annual Meeting is available exclusively to exhibitors, Chapters, and members and their institutions.

    AALL entities retain full responsibility for the format and content of these events and activities, whether or not there will be speakers, and the selection of menus and invitees. When there is support from an exhibitor, a Chapter or a member's institution, AALL entities retain responsibility and authority for the event, and they work closely with the supporter to ensure appropriate recognition. In addition to activities planned and hosted by AALL entities, some affiliates and exhibitors may choose to host their own social events, such as receptions, dinners, and other activities. These are not under AALL's auspices and thus are not considered AALL sponsorships.

    Each year at the fall meeting, the Executive Board reviews a list of sponsorship opportunities that is presented by the President for the next Annual Meeting. This list does not require Executive Board approval. Sponsorships may be granted on either a sole-sponsor basis, or on a multiple co-sponsor basis. This choice is determined in consultation between the sponsor and the Executive Director who consults with the President as needed. (Approved by the Executive Board March 2001 Tab 3B)

  2. Proposals to granting agencies

    1. All formal funding proposals less than $10,000 will be reviewed by the Executive Director for appropriateness of the donor, adequacy of the budget, financial implications for the Association, coordination aspects, and general level of risk.

    2. All formal funding proposals for $10,000 or more will be reviewed by the Finance and Budget Committee for appropriateness of the donor, adequacy of the budget, financial implications for the Association, coordination aspects, and general level of risk. The Executive Board shall approve all such proposals.

    3. The Executive Director signs all formal funding proposals.

    4. A copy of all such proposals is retained on file at Headquarters.

  3. Miscellaneous

    Gifts and donations may be used to support revenue-generating activities; they may be taken into consideration in setting prices such as registration fees.