This year-end report on Division 49 income and expenses for 2010 shows the Division in good fiscal condition. There may be slight inconsistencies between our internal documents and APA's final audited document available in February. Major highlights include:
Income: $42,419
Paid dues ($8,287) have declined by about $500 from 2009 figures, consistent with a small decline in membership.
Journal royalty income ($34,088) is based on 2009 sales, and reflects a decline in institutional and personal budgets, per APA. This is our key source of income and reflects the strong reputation of the journal.
Expenses: $25,210
Meeting costs ($11,500) remained steady even with expanded attendance at the Midwinter Board Meeting due to scheduling the meeting at a major airport hotel for the third consecutive year.
Following Board action, increased funding was devoted to member services including Member Development and web site development ($2,639).
Net Income: $17,209
Net Assets: $ 74,087 equals the sum of cash on hand and short term investments. This included the net income, above.
New Budget Items added in 2010 include the following:
Annual Convention Student Poster Awards up to $300, $200, and $100.
Division funded match of $500 to Dr. Richard Moreland $500 Dissertation Award
Board-designated Set Aside Funds for Division Foundation Seeding ($12,500 for 2009, $12,500 for 2010 and $15,000 for 2011. Funds for 2011 Set Aside will be generated from 2011 deposits.
Increased funding to improve Division Web Site and to support membership initiatives.