Submitted by: Rebecca MacNair-Semands, Ph.D., CGP, Past Treasurer and Amy Nitza, Ph.D., Treasurer
Division 49 ended 2014 with over $47,000 in income, including royalties from the journal at $43,077 (above the projected amount of $40,000). Dues exceeded those of last year and were above projected numbers this year after gaining some new members, for a total of $3,978 of income this year.
Newsletter costs were reduced from 2013 by over 28% to $2,171 by using the website for more detailed reports and shifting fully to an electronic version. This has been a huge savings in the past two years, as we spent over $6,200 in 2012. These costs will be further reduced next year without the fees for initiating the on-line formatting. After contributing to the Foundation and coming in under projected budget at both conferences, our final expenses totaled $35,936 (under the 2014 projected expenses of $38,828). We remain strong in our net assets with investments totaling $43,620.
Following the newsletter stipend of $2,000 beginning in November of 2013, the board approved a $1,500 contract for a social media consultant in 2014. We were able to split the journal editor monies between the current Editor and the affiliated university beginning this year as well, to provide more flexibility in the release of funds.
The Finance Committee explored shifting a portion of our short-term investments to funds that bring in more interest, as our balance has been stable for several years. However, we postponed this decision as we discussed and further explored the potential to start a new journal. This conversation can now be revisited as the journal process is likely to take several years. Our Foundation balance is now at $80,000, and we will reach our $100,000 goal in 2015. Please see the entire projected budget for 2015 for details, which will also be placed on the website.