Jennifer,
A great question and it reminds us that we constantly need to be looking forward. One analysis is the
5 year budget plan that is updated every Fall. This looks back 5 years and forward 5 years. The plan is never final but it helps to see recent patterns and forecasts what might occur. The 5 year budget takes into account that we will not have these one-time opportunities for some Covid relief. The other strategy is the
Pivot Strategic Plan that focuses on diversifying and increasing our revenue streams from 3 traditional to 7.
The PPP loans/grants, Endowment transfer with terms, furloughs, increased contributed revenue, and a determination have gotten us through the past two years. But this focus needs to continue and Council's efforts to increase membership, contributions, and member engagement are critical to our stronger financial future.
(the reports are linked in this message and also available on the
Executive Board documents website).
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Maggie Farrell
ALA Treasurer
Dean of Libraries
University of Nevada, Las Vegas
maggie.farrell@unlv.edu------------------------------
Original Message:
Sent: Jan 19, 2022 11:48 AM
From: Jennifer Boettcher
Subject: Fiscal operations, beyond PPP
Hello Maggie, Rodney, and others,
While listening at BARC and Council, I hear that the PPP Grant was a boon for ALA and thank you all who made it happen.
PPP helped us through the COVID period, so I'm wondering if it is possible to separate the fiscal implication of COVID from "normal" operations?
How does our fiscal picture look like without the any future PPP money and loans from our endowment funds?
What happens if we lose more members are LLX does not generate the revenue we need in the future?
Jennifer
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[Jennifer] [Boettcher]
Business Reference Librarian
boettcher@georgetown.edu
(202) 687-7495
@jenny.wombat
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