WHEREAS, the proposed revised budget for FY2002 projects a deficit of $8,114;
WHEREAS, the forecast budget for FY2003 anticipates no increase in dues revenue above earnings from 2002 and has no reasonable basis to project any significant increase in non-dues revenue;
WHEREAS, for FY 2003, office rent expenses are expected to increase by $12,500, personnel expenses by $46,000, and an upgrade to our accounting system is expected to cost $30,000;
WHEREAS, the Executive Committee has approved an overall study of the membership and dues structure at the 2002 Spring Meeting, with the express purpose of making recommendations to the Board to increase membership;
THEREFORE, IT IS RESOLVED THAT:
The Board of Directors approves a $15 dues increase across the board with exception given to Life, Sustaining, and President’s Club Members beginning March 1, 2002, as a means to provide
a short term solution to bridge the forecasted budget deficits over the next 18 months, providing the Executive Committee time to study the membership structure and provide a viable long term solution to the Board to increase membership and non-dues revenue.
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