ALCTS Financial Reports: FY 2001 and First Quarter FY 2002

Judith Niles, Chair, ALCTS Budget and Finance Committee

Final ALCTS Fiscal Year 2001 Report

ALCTS ended its fiscal year for 2000 with a net budget deficit of $15,091. The deficit can be attributed to earned but unposted revenues for LRTS. Those revenues will be posted to the 2002 fiscal year budget. The division maintains a sound operating reserve covering eight months. The ALCTS endowment has a current value of $42,000. This is a decrease of almost 17 percent from the value at the end of 2000. New Initiative funds continue to support strategic and tactical planning. Continuing education continues to be an inconsistent source of revenue. It is expected that tactical planning will be an effective tool to accomplish more dependable and more balanced revenue streams.

ALCTS Fiscal Year 2001 Final Revenue

Allocation
%
$
Dues
52
195,396
Publications
17
63,738
Continuing Education
31
117,014
Total
100
376,148

ALCTS Fiscal Year 2001 Final Expenditures

Allocation
%
$
Office
47
182,582
Continuing Education
26
103,427
Program
18
69,530
Publications
9
36,162
Total
100
391,701

First Quarter ALCTS Fiscal Year 2002 Report

The fiscal year 2002 budget at the end of the first quarter projects a deficit of $27,790. However, this could be offset by the unposted revenues from 2001. There are two preconferences scheduled for the Atlanta Annual Conference, which, if profitable, will also affect the balance of the 2002 budget. Dues receipts are currently ahead of the projected budget.

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