RUSA Budget and Finance (Reference and User Services Association) Committee
Online CE is 24% (or $10,738) under projection for this time of year, due to scheduling of most of our webinars for dates after April 1. One of our new online courses (Xtreme Bibliographic Searching) is succeeding very well and has already had over 38 registrants (the number is usually capped at 40). In addition 2 more new courses have been added to the lineup this year and promise to be successful: Learner-Centered Reference and Instruction: Science, Psychology, and Inclusive Pedagogy and Introduction to Instructional Design for Librarians.
Strategic Planning Expenses: This year $35,000 of reserve funds were designated for a consultant to help with strategic planning, and to fly board members in for an extra day on planning at Midwinter. The total figure looks like it will come to considerably less.
Total revenue/expenses: Total revenue is 21% (or $42,316) under projection; total expenses are 22% (or $56,390) over projections.
RUSA’s Reserve/Net Assets started the year at $530,258.
Year-End Projections: Although a deficit budget plan was put together to use some of the reserves for the president’s program, strategic planning and other initiatives, many of the expenses are coming in under projections. RUSA still expects to have a deficit, but not as much as predicted ($173,068 originally predicted). Last year the deficit actually amounted to $65,000, quite a bit lower than planned ($160,000+). Online CE and preconference sales and expenses will determine just how much lower than projected it will be this year; those figures will not be available until budget close in Sept/October. We may see 3 or 4 final closes.