ALA Council

Council Orientation Financial Training

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  • 1.  Council Orientation Financial Training

    Posted Jun 22, 2018 06:17 AM
      |   view attached
    Hope you can join us on Saturday at the Council Orientation for the Financial Training from 8:50 - 9:35am.  I am attaching the presentation if you are not able to join us.  Feel free to check in with me on questions if you are not able to attend the training.   Susan Hildreth, Treasurer

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    Susan Hildreth
    Professor of Practice 9/16 - 6/18
    University of Washington Information School
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  • 2.  RE: Council Orientation Financial Training

    Posted Jun 22, 2018 06:46 AM
    Thank you. I will study this. I am the chair of AASL Awards which means I will spend Saturday morning emceeing their presentations.  ALA attendance is always a series of needing to be in two places. 
    I look forward to learning more about ala finances. 





  • 3.  RE: Council Orientation Financial Training
    Best Answer

    Posted Jun 22, 2018 07:35 AM
    Susan, thanks for sharing your presentation. I have two questions.
    1. If ALA sells 50 E Huron, will/could the proceeds from that sale be used to balance the operating budget? I would strongly object to this.  We have burned through our fund balance over the last 10 years and could easily burn through our assets balance if they are not protected.  Until we have reorganization plan and know what our space needs are and have a plan for investment of those funds, we should hold on the 50 E. Huron.
    2. Does any current excess revenue over expense from divisions currently go to ALA or is it retained by the divisions?





  • 4.  RE: Council Orientation Financial Training

    Posted Jun 22, 2018 09:56 AM
    1. If ALA sells 50 E Huron, will/could the proceeds from that sale be used to balance the operating budget? I would strongly object to this.  We have burned through our fund balance over the last 10 years and could easily burn through our assets balance if they are not protected.  Until we have reorganization plan and know what our space needs are and have a plan for investment of those funds, we should hold on the 50 E. Huron.

    No decision has been made on sale of Chicago assets.  If a sale were considered, most of the proceeds would be added to the Endowment to generate additional earnings to support ongoing activities of the association.

    1. Does any current excess revenue over expense from divisions currently go to ALA or is it retained by the divisions? 

     Division net asses (revenue over expenses) are allocated to the divisions.  To clarify – these net assets would be allocated to divisions after any application of required overhead depending on the type of division revenue was made to the general fund.

    Please consider attending Financial training on Saturday where financial issues will be discussed in detail.  Susan H

     

     

    Susan Hildreth

    Professor of Practice, University of Washington Information School, 9/16 – 6/18

    Treasurer, American Library Association, 2016 - 2019

    Fellow, Aspen Institute Dialogue on Public Libraries

    Strategic Advisor, Califa Group

    shhildreth@comcast.net

    hildreth@uw.edu

    206-619-5030 (cell)