by Amy Nitza, PhD
Our division continues to be in a solid financial position. As per the 2019 Budget versus Actual report (PDF,87KB), we ended 2019 with a balance of approximately $90,000 in the bank. One important note is that the $25,000 gift from the estate of Richard Moreland has been transferred from the division to the American Psychological Foundation, which will now administer the Moreland Dissertation Award each year. Other expenses for the year were largely as budgeted. Given our large cash-on-hand balance, one goal for the upcoming months is to explore our options for moving some of that balance into an interest-bearing account of some kind.
Our budget for 2020 (PDF, 68KB) was approved by the Board at the recent midwinter meeting. Changes from 2019 include the establishment of a line item for a new journal “Most Valuable Paper” award, funding to support ongoing work related to the Group Specialty Council and an expanded social hour at the convention. These increases were balanced by the elimination of the Research Grant line item that was a duplication of the grants being given by the APF and thus had not been given in recent years. Finally, the line item for the Moreland Dissertation award was replaced by a line item for a donation to the APF. As you will note, much of the rest of the annual budget goes to support basic operations of the division.
If you have any questions about this report or anything related to our division finances, feel free to contact me at any time.
by Amy Nitza, PhD
Our division ended 2018 in a solid financial position. My report to the board, which compares our budget to actual expenditures for 2018, is available online (PDF, 35KB). Revenues from the journal and from membership were both lower than expected. However, we spent less than budgeted for and thus had a positive cash balance that will carry forward into 2019.
Our budget for 2019 as approved by the Board at the recent midwinter meeting is also available online (PDF, 14KB). While the budget remains largely the same as in recent years, a few changes were made that reflect changes elsewhere in the division. With the recent approval of group as a specialty, the Board has allocated monies toward supporting a Specialty Task Force, which will focus on planning for next steps in that process. The Board also approved the establishment of small stipends for the associate editors of our journal. To offset these new expenditures, some of the annual awards given to professionals each year will no longer have a monetary award associated with them. We continue to invest in the future of our division through the provision of numerous student awards and through division events and opportunities to connect at APA's convention. As you will note, much of the rest of the annual budget goes to support basic operations of the division.
Also of note is the generous $25,000 gift to our division from the Estate of Dick Moreland. This amount, which is currently reflected in the Carry Forward from 2018 line item in the 2019 budget, will be transferred to the division’s fund with the American Psychological Foundation and will be used to support the Moreland Dissertation Award moving forward.
If you have any questions about this report or anything related to our division finances, feel free to contact me at any time.
I am happy to begin my term as your new treasurer by informing members that our division continues to be in a solid financial position. Reporting of our final 2020 Actual spending is delayed as I am still awaiting the final financial reports from APA. However, most of our 2020 spending has been accounted for as of the November 2020 financial report, and we did not exceed our proposed spending. Further, we ended 2020 with a balance of approximately $115,000 in the bank. The final Budget vs Actual report for 2020 will be presented in the Div. 49 summer newsletter.