Fund Balance Requirements

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Presentation transcript:

Fund Balance Requirements Alan Berenbaum SGB Meeting Chicago, March 21, 2004

Current Fund Balance Requirement Set by SIG Presidential Commission in 1990 at 50% of operational expenses, 20% of conference expenses ACM and SIGS were in financial difficulties Few of the SIGS could have met a conference balance >20% Currently, 3 new SIGs and 3 old SIGS are below this requirement

Conferences can lose money Through 90’s, most SIGS had healthy conference surpluses Fund balance minimum wasn’t an issue Things change…

Recent revenue history

New fund balance requirement 50% of operational expenses (same as before) 40% of conference expenses (up from 20%) This is not a new “tax”. It is a mandate for prudence Only 2 additional SIGS go below the minimum