- Treasurer’s Report
On pg 72, an entry was missing in the table. The online version has been updated to include a line for Germany.
IAML’s financial situation improved again in the year 2017. After two years of notable deficits in 2015 (€35,000) and 2016 (€12,000), we managed to close 2017 with a surplus of almost €14,000. So, while we are still on the road to financial consolidation, we have made an important step in the right direction. It must be our goal, though, to continue in this way until we have reached a position that allows us to keep the amount of an average year’s income (€90,000) as a reserve. According to the proposed budget for 2018–2020, we could be close to that point by the end of 2020.
We have set the membership dues for 2019 at the General Assembly in Riga last year at €43 for individual members and at €72 for institutional members. I would like to suggest to the General Assembly to keep the membership dues stable again in 2020.
Fontes’ production costs for the complete 2017 volume (64) were 10% above the budgeted amount. This does not show in the 2017 accounts, because two invoices were received and paid in 2016 and another invoice was received and paid in 2018. To speed up the process of saving printing costs in favour of electronic access—a process we have been pursuing since 2016 when the journal went online—the IAML Board intends to introduce a new procedure.
Regarding travel expenses, I am glad to report that in 2017 again we did not need to spend the budgeted €20,000. I would like to thank all Board members for accepting down-to-earth accommodations and taking less convenient flights that help save on expenses.
IAML was incorporated in the U.S. in 2017 (and was granted tax-exempt status in 2018), and a legal advisor supported this process. Currently, the fees incurred are shown under miscellaneous expenses. If necessary, I will introduce a category for expenses in conncetion with incorporation and taxes into the budget.
I would like to remind all National Branches and individual members that according to our Rules of Procedure (Rule II, 2) dues should be paid by 1 March of each year, and each National Branch should provide a current list of members to the Treasurer by the same date. I urgently invite treasurers and other membership officers from the National Branches to send me their membership lists without being requested to do so. Branches that are unable to follow this rule for whatever reason should let me know as soon as possible and keep me updated on progress.
Please keep in mind that there will be Board elections in 2019. According to the Rules of Procedure (Rule II, 4) “Members in arrears of payment at the time of voting shall not be entitled to vote”. In other words, only members whose dues have been received by the time voting starts will be entitled to cast their vote. So please make sure that your national branch collects and sends their membership dues as early as possible in 2019, hopefully reaching the 1 March deadline. It is, of course, our goal to give all IAML members the opportunity to take part in the Board elections, and we should do our best to make this happen.
This gives me a good opportunity to thank all the national treasurers and membership secretaries for their ongoing support and hard work in 2017. Your efforts are very much appreciated.
I would like to express my sincere gratitude to the auditors Verena Funtenberger and Andreas Linne (both from Essen, Germany) for spending time thoroughly checking the documentation I sent them in advance of our meeting, which speeded up the process of presenting and discussing [End Page 70] the statement of income and expenditure with them.
Finally, I would like to thank you— the IAML membership and my Board colleagues—for your ongoing confidence in me. I continually do my best to serve to the Association’s benefit and meet your expectations. [End Page 71]