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Executive Council Business Meeting

Executive Council Business Meeting. June 8, 2013 Bloomington, Indiana. FY13 & FY14 Financial Update. Presented to the IUAA Executive Council June 8, 2013. FY2012-13 Financial Update As of April 30, 2013. Big wins with revenue sources Membership Above & Beyond annual giving

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Executive Council Business Meeting

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  1. Executive Council Business Meeting June 8, 2013 Bloomington, Indiana

  2. FY13 & FY14 Financial Update Presented to the IUAA Executive Council June 8, 2013

  3. FY2012-13 Financial UpdateAs of April 30, 2013 • Big wins with revenue sources • Membership • Above & Beyond annual giving • License Plate • Magazine Advertising • Significant success managing operating costs • Planned investment of one-time funds less than budget

  4. FY2013-14 Budget Process

  5. Unified Dues Program • Key Takeaways: • Focus on Constituent Societies and Regional Campuses • Study/Deliberation/Consultation over the last year • Alignment of donor intent, IUAA responsibilities, and Chapter policies

  6. Unified Dues ProgramConstituent Society & Regional Campus Proposed Next Steps • No Change to Allocation Formulas for FY14 • Utilize membership figures for March 30, 2013 • Adjust allocated funds based on each group’s June 30, 2013 fund balance. • Fund balance < 100% = full annual allocation • Fund balance < 200% = partial allocation adjusted for the amount by which the fund balance exceeds the full annual allocation • Fund balance > 200% = no annual allocation • Approval process for spending above the annual allocation amount • Enhanced accounting to segregate future allocations from other income sources • Communication of guidelines for utilization of dues allocation dollars

  7. QUESTIONS?

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