In May 2000, the Executive Committee adopted the Association's budget for FY 2001 (July 1, 2000 - June 30, 2001), and amended Executive Committee Regulation 10.1 to establish the membership dues for the Calendar Year 2001. The Executive Committee concluded that dues for Calendar Year 2001 should be increased by three percent -- the actual dollar amount ranges from $135 for the smallest size category of schools to $542 for the largest size category of schools.

Executive Committee Regulation 10.1 was revised to read as follows:

10.1 Annual Dues. For the calendar year 2000-2001, the dues shall be $4515 4,650 for a school whose enrollment does not exceed 250 students; $6,765 6,968 for a school whose enrollment exceeds 250 students but does not exceed 500 students; $9,025 9,296 for a school whose enrollment exceeds 500 students but does not exceed 800 students; $11,280 11,618 for a school whose enrollment exceeds 800 students but does not exceed 1100 students; $13,535 13,941 for a school whose enrollment exceeds 1100 students but does not exceed 1400 students; $15,790 16,264 for a school whose enrollment exceeds 1400 students but does not exceed 1700 students; and $18,050 18,592 for a school whose enrollment exceeds 1700 students.

In accordance with Bylaw Section 5-4, unless objection is received from at least ten member schools within 60 days of mailing of a copy of this regulation, Executive Committee Regulation 10.1, as amended, will continue in effect.

Income and Expenditure Summary. Attached as Appendix A is a summary of income and expenditures for FY 1998-99 and FY1997-98, estimated income and expenditures for FY 1999-00 (based on projections from actual expenditures through 3/31/00), and the operating budget for FY2000-2001.

The budget adopted by the Executive Committee for Fiscal Year 2000-2001 contemplates income of $4,001,163 and expenditures of $4,295,400. We will transfer $294,237 from reserves to cover the difference; the Association's reserves are still expected to be within the targeted 65 - 90% of budgeted operating expenses.

Financial Statements. Attached as Appendix B is the AALS auditor's financial statements for FY 1998-99.

Enclosures: [not included on website]
Appendix A:Summary of income and expenditures for FY 1998-99, FY 1997-98
Budgeted income and expenses 1999-2000
Estimated income and expenditures for FY 1999-2000
Operating budget for FY 2000-2001.

Appendix B:
AALS auditor's financial statements for FY 1998-99

cc:
Executive Committee
Audit Committee