Saturday, May 28, 2011 9:00-11:00am and Tuesday, May 31, 4:00-5:30pm
Members present: Richard Phillips, Paula Covington, David Block, Peter T. Johnson, Hortensia Calvo, Eudorah Loh, Martha Mantilla, Laura Shedenhelm, Angela Carreño, Alma Ortega, Anne Barnhart, Pamela Graham, Barbara Tenenbaum, Fernando Acosta-Rodríguez Others: Daisy V. Domínguez, Orchid Mazurkiewicz, Nerea Llamas, Lynn Shirey, Elmelinda Lara, David C. Murray, Joe Holub
Finance met twice in Philadelphia, covering a wide range of policy and fiscal matters and endowment/investment topics. Several new members were welcomed: Alma Ortega (San Diego), Angela Carreño (NYU), and Fernando Acosta-Rodríguez (Princeton). A goal of the Committee has been to broaden participation, so these newcomers were truly applauded!
A review of the organization’s future (short & long term) was given by Treasurer Peter Johnson and by the Executive Secretary Hortensia Calvo. Topics included boosting SALALM’s name at ALA accredited library/information schools (and recruitment of new personal memberships in SALALM) by the creation of a new scholarship to market SALALM and its benefits to new incoming professionals in our field. The longstanding Marietta Daniels Shepard Scholarship is being fully turned over to the University of Texas after more than 25 years of contributions by SALALM. This thus fulfills SALALM’s pledge. Frustration with the lack of recognition given to SALALM was voiced.
$1,000 (plus $500 for start-up publicity) will be taken from SALALM’s dividends to initially launch the new scholarship. Member donations will sustain it in the future. This new scholarship will be fully coordinated and promoted directly by SALALM to all library schools.
The Treasurer also touched upon SALALM investments, urging more vigilant and proactive work by Finance’s Investment Working Group (IWG) – which held an early working breakfast session and is coordinated by Laura Shedenhelm. Other topics included credit card fees, CPA charges, use of PayPal, updates to the SALALM website, webinar offerings. Other operating dynamics were also discussed and funded and these were sent on to the Executive Board for consideration and approval.
Additional business included receipt of a $1,000 boost to SALALM’s endowment from an anonymous donor, who thereby matched contributions from a challenge made to SALALM members at the end of the Providence meeting. It is hoped that more challenges and donor opportunities will follow; SALALM’s “Endow our Future” theme is taking off.
Also, approval was given to offering a 3-year prepaid membership option that would lock in current membership fees.
Pending is the matter of changing SALALM operations to a calendar year in an effort to align SALALM with the fiscal year used by most others. Also open for further review is the matter of moving more funds to the endowment from institutional sponsorship payments.
The Secretariat highlighted its current budget and proposed budget. Invoice processing of institutional members is being scrutinized; there is concern that there must be a smoother way for institutions to pay their bills to SALALM. Other matters were very positive reports from the Providence and Philadelphia conferences. Discussion of the 2012 Trinidad & Tobago conference was also upbeat, with projected expenses and revenues reviewed and local arrangements eyeing sponsorships. The new chair of Finance will be Paula Covington.
Richard Phillips, Chair
University of Florida