by Amy Nitza, PhD
Posted April 2020
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.