North Carolina Library Association Finance Committee Report, July 19, 2002

NORTH CAROLINA LIBRARY ASSOCIATION

FINANCE COMMITTEE REPORT

July 19, 2002

At the April 19, 2002 Board meeting, the Finance Committee was asked to make a recommendation at the July 19 meeting regarding a dollar amount to be sent to ALA's CIPA fund. In coming to a recommendation, the Committee reviewed the status of the budget, noting that:

the return of past sales tax is slightly more than 200% of that anticipated
income for January-June is 46.9% of the total amount projected
expenses for January-June are 32.6% of the total amount projected
as of June 30, 2002, with one (1) month to the registration deadline, the Leadership Institute has only18.6% of the registration figure, and all of that in scholarship funding from the sections. With the State's budget situation being what it is, it is unclear whether or not the $18,000 budget income line from registrations will be met.

After considering the above points, the Committee, while it wishes it could recommend the approval of the entire $2000 donation requested by ALA, finds that a $500 donation would be more fiscally sound and help insure that the Leadership Institute might go forward without meeting 100% of its budgeted income.

In reviewing the Project Grants submitted for FY2001, the Finance Committee noted that applicants often found the existing process and forms, especially the budget worksheets, confusing. With the FY2002 budget approved, which included $5,000 for Project Grants, the Committee reviewed both the guidelines and forms for Project Grants, and revised them in order to clarify the process and simplify the forms. We plan on monitoring this year's applications, noting where additional revision or clarification may be required. The guidelines and application may be found at http://www.nclaonline.org/proced/ProjectGrants.html

So far this year, the Committee has approved one Project Grant submitted by the Round Table on Special Collections. We have been notified that two more, one from LAMS and one from the Literacy Committee, will be submitted before the August 1 deadline. Given the preliminary information we have on the dollar amounts involved, the Committee thinks that there will be money left for one additional application. Please watch the website for any updates on Project Grant money availability.