Councilors,
President Patty Wong and I would like to provide some guidance regarding the Budget Objectives/Programmatic Priorities Action item in our Council III meeting. Noting that our agenda is quite full, this might provide a bit of background on our discussion to facilitate our time together.
Prior to Council III, please review CD #13.1. The report/presentation provides background on Budget Objectives that are required in our Bylaws. Last year, we changed this process from programmatic priorities in our Strategic Plan to focus on strategies that are more directed toward financial management. In mid-February, ALA will begin to develop the FY2023 budget and the Executive Board and Council will direct ALA to focus on the following objectives:
- Align expenditures with revenues
- Increase revenue sources
- Rebuild membership base
- Develop a budget surplus
- Focus on financial stability
- Develop new budget metrics
The Finance & Audit SubCommittee and Executive Board approved these objectives and I am requesting ALA Council's concurrence.
For some additional information, you might notice that the Budget Objectives look very similar to Budget Directives outlined by BARC, F&A, and Executive Board in the preliminary budget approvals. ALA Management has also developed Tactical Goals for the budget process. To assist your review, slide 5 is a terminology list. President Wong and I are very pleased that our financial entities are coordinated and focused on one strategy to strengthen our financial infrastructure and increase transparency.
Additionally, my Treasurer's Report was presented during the Council Information Session and will not be covered in Council III. If you were unable to attend the Information Session and have any budget questions, please contact me, or reply to this thread.
Thank you in advance for your preview of our discussion and our deep appreciation for your dedication to current and future ALA members.
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Maggie Farrell
ALA Treasurer
Dean of Libraries
University of Nevada, Las Vegas
maggie.farrell@unlv.edu------------------------------