June 23, 1998
|To:||Deans of Member Schools and Members of the House of Representatives|
|From:||Carl C. Monk|
|Subject:||Amendment of Executive Committee Regulation 10.1 Establishing Membership Dues for Calendar Year 1999|
On May 18, 1998, the Executive Committee adopted the Association's budget for FY 1999 (July 1, 1998-June 30, 1999), and amended Executive Committee Regulation 10.1 to establish the membership dues for calendar year 1999. The Executive Committee concluded that dues for calendar year 1999 should remain the same as the dues for 1998. This is the second consecutive year that there has been no increase in member dues. The primary reason for the Association's ability to maintain the current dues structure is better than expected return on investments.
Executive Committee Regulation 10.1 is therefore revised to read as follows:
Annual Dues. For the calendar year
19981999, the dues shall be $4,405 for a school whose enrollment does not exceed 250 students; $6,600 for a school whose enrollment exceeds 250 students but does not exceed 500 students; $8,805 for a school whose enrollment exceeds 500 students but does not exceed 800 students; $11,005 for a school whose enrollment exceeds 800 students but does not exceed 1100 students; $13,205 for a school whose enrollment exceeds 1100 students but does not exceed 1400 students; $15,405 for a school whose enrollment exceeds 1400 students but does not exceed 1700 students; and $17,610 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 1995-96, FY 1996-97 and estimated income and expenditures for FY 1997-98 (based on projections from actual expenditures through March 31, 1998), and the budget for FY 1998-99.
The budget adopted by the Executive Committee for Fiscal Year 1999 contemplates income of $3,211,800; operating expenditures of $3,255,700; (with the difference to be covered by a transfer from reserves) and capital expenditures of $125,000.
Financial Statements. Attached as Appendix B are the AALS audited financial statements for FY 1997.Attachments [Not included on website.]