- 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.
- 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)