Jim Neal, Chair of the ALA Budget Analysis and Review Committee (BARC) gave an overview of the ALA finances. Overall, Jim noted that although ALA has less revenues at the end of the first quarter 2009 (11/30/08), this is not unusual for this time of year. In fact, Jim noted that in other areas, ALA has increased revenues significantly. Two areas of note were in conference registrations and in grants. I find it somewhat comforting that there is an increase in conference registration especially in light of the budget cuts that may of us are facing at our institutions - and often in the area of travel and professional development. Jim credits the financial management skills of the staff at ALA headquarters for their stewardship and believes strongly that they will continue to manage ALA funds effectively to continue conducting the business of the association.
Dan Bradbury, Senior Trustee, reported on the state of the ALA endowments. Although endowments have decreased by more than 20%, he believes that, based on history, we will come out stronger when the economy turns around. ALA has made some changes to the manner in which investments can be made to allow more flexibility. In response to a question, Mr. Bradbury noted that ALA will not, at the moment, invest in gold as the current value of our endowment will not support such an investment.
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