WEBVTT

1
00:02:35.680 --> 00:02:41.860
Ninah Moore: Thank you, everyone for joining us. We will begin. let's give it one more minute for for people to come in.

2
00:03:53.690 --> 00:03:56.529
Ninah Moore: Jenny. You may begin. Thank you.

3
00:03:56.880 --> 00:04:05.820
Jenny McElroy: Thanks. Everybody for joining us today. for our Town Hall about Rsa Budget and finance.

4
00:04:05.880 --> 00:04:08.700
Jenny McElroy: we are gonna talk for

5
00:04:09.360 --> 00:04:28.889
Jenny McElroy: the whole thing is gonna be 30 min or or less, but we're gonna talk for a little while. Share some of the things that are going on. Some of the planning that's happening. What we're looking forward to. and then there'll be time at the end for questions. and I am joined by several members of the committee as well as Bill and Nina from recess staff. So

6
00:04:28.900 --> 00:04:32.689
Jenny McElroy: well, if we can't find you the answer today, we'll definitely get it for you.

7
00:04:32.910 --> 00:04:49.790
Jenny McElroy: so getting started here. just some brief introductions. My name is Jenny Maccore. I'm the chair of the Rusa Budget and Finance Committee this year. I am the library manager at the Minnesota Historical Society, proud member of the history Section

8
00:04:49.800 --> 00:05:04.169
Jenny McElroy: so also representing them, even though it does not say so on this slide. Joseph the recent President elect. Emily is our codes Representative Shannon, from Ets Lisa, from Brass. Janet from Rss

9
00:05:04.180 --> 00:05:14.099
Jenny McElroy: Mike was our representative from stars. Mike resigned this fall after several years of great work with us, so we are looking for a new stars. Rep

10
00:05:14.160 --> 00:05:19.570
Jenny McElroy: and then Bill, who joins us for all of our meetings, and provides so much good information to us

11
00:05:19.830 --> 00:05:21.750
Jenny McElroy: so that we can do our work.

12
00:05:22.250 --> 00:05:25.689
Jenny McElroy: so the current budget and finance

13
00:05:25.700 --> 00:05:50.029
Jenny McElroy: team or committee started in sort of the. There used to be an old one back in the day, it was mostly vice-chairs of the various sections and and people from the Rusa board. there was a roof a task force that was founded in 2,020 in January, basically because Rusa needed to find a more fiscally sound way of operating. We had what we called a runway to find a solution.

14
00:05:50.040 --> 00:06:07.299
Jenny McElroy: and our solution was, Can we stay independent? Do we need to transition, you know, merge with someone else or another group? Or do we need to dissolve. What is the what is the financial sustainability look like? And that was the start of a 3 year pivot.

15
00:06:07.310 --> 00:06:27.190
Jenny McElroy: I will say we started using the term pivot unaware that I think everyone was gonna use the word pivot for various things. But we, you know that's where we are. and it's about sustaining our our organization fiscally and and making a model that works moving forward. So thus it was the futures task force.

16
00:06:27.200 --> 00:06:35.770
Jenny McElroy: and now, in the present we have transitioned to a new model for budget and finance that started in July of 2,021.

17
00:06:36.160 --> 00:06:55.089
Jenny McElroy: that group has monthly meetings rather than the every 2 weeks, or every 3 weeks that we had with futures, but also far more than the Quarterly, or every 6 months that some of the older budget and finance models had in the past. Our meetings are all virtual, which means anyone can be a member

18
00:06:55.100 --> 00:07:04.600
Jenny McElroy: mit ctl, and without needing to travel for things. and all the sections in the board are represented. We're a little bit smaller, but there is a rep from each section, and the board 150

19
00:07:04.610 --> 00:07:21.310
Jenny McElroy: as represented by the President elect and the section select their own reps. It's not necessarily assigned to a position. Now. Some sections have decided that it goes along with another job. So perhaps you're a member at large, and you sit on budget and finance.

20
00:07:21.320 --> 00:07:28.690
Jenny McElroy: Some sections have decided that it's a person that they assign that maybe doesn't have a regular job, and this is their only one.

21
00:07:28.830 --> 00:07:33.410
Jenny McElroy: so that's kind of nice and interesting. Everybody can make it work their own way.

22
00:07:33.900 --> 00:07:53.840
Jenny McElroy: what do we do? Well, we do budget things. but we also do other things. Every every organization has to have a budget. Obviously. we do budget related things. We also do financial oversight. we do future funds related, planning whether that's budgeting or not.

23
00:07:53.850 --> 00:08:00.149
Jenny McElroy: and we evaluate report, and suggest on things that are related to finances. So

24
00:08:00.160 --> 00:08:16.910
Jenny McElroy: 2 examples of that. in in recent years. very recently, is the Roost queue Journal. you know we had a report on on the future of that, and it's finances that has resulted in in a plan for a return of the journal, but with a financial cap on its production.

25
00:08:16.920 --> 00:08:21.420
Jenny McElroy: we also recommended an awards task force, which we'll chat about in a little bit.

26
00:08:21.840 --> 00:08:23.479
Jenny McElroy: and other things as well.

27
00:08:24.430 --> 00:08:33.489
Jenny McElroy: so what is our our budget, calendar? Look like for reset. This might be obvious to some people, but it wasn't necessarily to me before I joined futures and budget and finance

28
00:08:33.500 --> 00:08:44.759
Jenny McElroy: the fy 22 for us closed October 30 first we have received a preliminary year End report. That's showing a surplus which is very good.

29
00:08:44.770 --> 00:08:55.359
Jenny McElroy: and as of last week there were a few expenses to calculate before a final final report. As of last week we were anticipating an approximate $30,000 surplus this year.

30
00:08:56.820 --> 00:09:20.900
Jenny McElroy: our fy 23 budget has been approved through the aa approval process, and then fy 24 planning begins in January or February. And that's kind of how it always goes. The budget gets approved in late fall. About the same time we get the year end reporting. Then we have a little bit of time, and then we start planning for the next year down the line. So it's a pretty far out budgeting process in my mind.

31
00:09:21.760 --> 00:09:27.589
Jenny McElroy: but progress on that pivot.

32
00:09:27.810 --> 00:09:46.549
Jenny McElroy: So we have stabilized our revenue in a lot of in a very real way. we were having a 10 year revenue decline. we have seen that decline slow, and then essentially stop.

33
00:09:46.560 --> 00:09:56.699
Jenny McElroy: which is really, very, very good. Over the past 3 years our expenses have significantly decreased, and we'll talk a little bit about that.

34
00:09:56.740 --> 00:09:58.459
Jenny McElroy: in a bit as well

35
00:09:58.820 --> 00:10:08.849
Jenny McElroy: as far as membership goes, membership is always the thing we always are looking for more members, both because that helps the financial stability of the organization, but also because

36
00:10:08.860 --> 00:10:18.850
Jenny McElroy: we want to serve people. And we want to, you know, find the people who who who this is their home, either professionally as a whole, or within a la, or however they feel about it.

37
00:10:20.140 --> 00:10:39.790
Jenny McElroy: One thing that has changed our membership number significantly is that we absorbed 3 former acts, escal groups and with them came their membership funds. That was a very much a game changer when that happened that changed our our view on that runway that I talked about just a few minutes ago.

38
00:10:41.780 --> 00:10:57.080
Jenny McElroy: as I mentioned the Russo Journal. Expense has been reduced 70, and capped for the future, which allows it to be sustainable, and and allows it to continue on. It had been essentially on hiatus for a number of reasons.

39
00:10:57.140 --> 00:10:59.929
Jenny McElroy: but it was quite expensive.

40
00:11:00.170 --> 00:11:20.409
Jenny McElroy: but you know, when futures met budget and finance, the discussion was that, having a a professional peer-reviewed journal, that that it's really important that we have a journal for for our members. It's important for people to be able to publish. It's important for people to be able to share and learn from each other. And so that's really really good news.

41
00:11:20.770 --> 00:11:34.820
Jenny McElroy: this year we had a virtual forum. For the first time it was experimental, and it was a great experiment. I don't know how many of you might have attended but it was successful, and it was profitable in its first year.

42
00:11:34.830 --> 00:11:53.089
Jenny McElroy: and it has a lot of opportunities. The plan is for the virtual forum to be a standing program to be yearly, to have it be an opportunity for people to share and learn, and also thus it's an opportunity for things like sponsorships and that kind of thing, and a and a membership driver as well.

43
00:11:54.740 --> 00:12:12.080
Jenny McElroy: and as I mentioned the awards cost Savings recommendations, task force has met, and they their initial report has been sent to the rooster board. But there's more to come there, so you know there's there's a lot still happening in in that area of

44
00:12:13.410 --> 00:12:14.989
Jenny McElroy: activity. I guess

45
00:12:17.340 --> 00:12:25.680
Ninah Moore: that's a good question.

46
00:12:27.790 --> 00:12:31.669
Jenny McElroy: They are not represented individually.

47
00:12:31.840 --> 00:12:39.770
Jenny McElroy: because they didn't come over and and maintain their structure is my understanding. in the same way.

48
00:12:40.130 --> 00:12:47.239
Jenny McElroy: I think that that's something that we could certainly discuss if they're if they're their own sections within Russia.

49
00:12:47.350 --> 00:12:56.880
Jenny McElroy: But they are certainly represented by the representative of the Board, who represents everyone in recess, so Joseph would would sort of be their representative at the moment.

50
00:12:59.710 --> 00:13:27.919
Jenny McElroy: I I will say that the the structure of budget and finances this is new, like, I said, and and sort of the frequency with which we meet, and the work that we're doing virtually is all sort of new. We've kind of entered the future here in a way or the present, I guess of it in a way that we weren't necessarily before as far as meeting and and doing structured work and projects. And so you know. I think I think it's bound to to shift and change and have some iterative change as well in there.

51
00:13:28.120 --> 00:13:29.580
Jenny McElroy: Thanks for that question.

52
00:13:32.460 --> 00:13:38.989
Jenny McElroy: Our next slide here is just a little bit of overview, so you can see some of what I was talking about before, as far as

53
00:13:39.050 --> 00:13:53.120
Jenny McElroy: sort of a historical dip in or a historical decline in membership revenue in total revenue and in an increase in expenses which isn't you know unheard of.

54
00:13:53.130 --> 00:14:04.290
Jenny McElroy: You can see that, there! The start of the expense dip was in 2,018 and things were starting to correct a little bit at that point.

55
00:14:04.300 --> 00:14:18.710
Jenny McElroy: This is very much the historic view to show you sort of where we were when that decision was made, that we really needed to figure out a different, more sustainable solution. This was the this was the the financial situation we were in.

56
00:14:19.840 --> 00:14:25.080
Jenny McElroy: This is more the financial situation in the last few years.

57
00:14:25.100 --> 00:14:40.420
Jenny McElroy: as you can see from this chart and this small graph. our our situation is significantly better. we're moving in in much better directions. You know things. Things have stabilized significantly.

58
00:14:40.820 --> 00:14:41.780
Jenny McElroy: and

59
00:14:41.870 --> 00:14:44.920
Jenny McElroy: our our expenses have gone down

60
00:14:49.260 --> 00:14:55.520
Jenny McElroy: this one, too. This is maybe a more clear slide to show you. Our recent year's overall financial performance.

61
00:14:55.600 --> 00:15:10.990
Jenny McElroy: in fy 1920 and 21. We were in the red. We were in negative numbers, and we were pulling money from our endowment and down an interest to cover our expenses, to continue to pay for the organization.

62
00:15:11.000 --> 00:15:25.500
Jenny McElroy: fy 22 we had originally budgeted just about a 57, $5,800 net in the black. It looks like it's gonna be just over $30,000, based on a variety of factors.

63
00:15:25.530 --> 00:15:28.090
Jenny McElroy: and we've budgeted a a lower

64
00:15:28.120 --> 00:15:31.850
Jenny McElroy: net to the good next year.

65
00:15:33.020 --> 00:15:36.669
Jenny McElroy: Looks like there might be questions. Should I pause here?

66
00:15:39.580 --> 00:15:43.200
Ninah Moore: yes, Does the rest of membership

67
00:15:43.810 --> 00:15:46.089
Ninah Moore: parallel. Alas! Numbers.

68
00:15:48.700 --> 00:15:56.069
Jenny McElroy: as far as the decline. My understanding is that the Ala's membership decline has continued.

69
00:15:56.160 --> 00:16:05.660
Jenny McElroy: and our decline has has leveled off, and even has had a slight increase. Bill, Does that sound accurate to you and Nina as well?

70
00:16:07.840 --> 00:16:09.889
Bill Ladewski: Yeah, rus's, membership

71
00:16:10.030 --> 00:16:15.279
Bill Ladewski: membership decline did kind of mirror along with, alas! And they've been in a

72
00:16:15.480 --> 00:16:18.400
Bill Ladewski: multi-year decline as well. However, the last

73
00:16:18.570 --> 00:16:22.569
Bill Ladewski: membership here we did show now a slight growth.

74
00:16:22.810 --> 00:16:27.659
Bill Ladewski: So I think Ala is again going to report a membership decline. But

75
00:16:27.880 --> 00:16:31.609
Bill Ladewski: we've we have a slight growth with your report for last year.

76
00:16:33.470 --> 00:16:36.230
Jenny McElroy: and I think the trend is common across

77
00:16:36.420 --> 00:16:43.269
Jenny McElroy: professional associations. From my understanding, too, there's been. There's been the client in membership of professional associations for

78
00:16:43.750 --> 00:16:47.929
Jenny McElroy: a very long time. Is my understanding. So

79
00:16:48.540 --> 00:16:49.340
yeah.

80
00:16:50.280 --> 00:16:52.659
Jenny McElroy: other questions from right now.

81
00:16:54.290 --> 00:17:07.800
Janet O'Keefe: yes, I'm actually typing the answer to one which is what revenue sources do we have before? Besides membership dues which we are going to get to. So someone's at someone's thinking ahead.

82
00:17:08.180 --> 00:17:11.169
Janet O'Keefe: And are we going to pay back the endowment?

83
00:17:13.800 --> 00:17:23.880
Jenny McElroy: So I think part of our goal has been not to take anything else from the endowment, and, if possible, to put some back. I don't know how much of that is in the budget

84
00:17:24.200 --> 00:17:27.510
Jenny McElroy: for this year, or whether that's a longer term.

85
00:17:27.609 --> 00:17:29.400
Jenny McElroy: plan.

86
00:17:29.470 --> 00:17:30.909
Jenny McElroy: Phil, do you have a

87
00:17:32.690 --> 00:17:34.490
Jenny McElroy: recollection?

88
00:17:34.770 --> 00:17:38.690
Bill Ladewski: Yeah, the the way the endowment works is, we're able to bring out

89
00:17:38.710 --> 00:17:45.160
Bill Ladewski: the annual earned interest from the environment. Bring it to operating. So we don't touch the principle

90
00:17:45.470 --> 00:17:55.769
Bill Ladewski: and over the decline You've mentioned Jenny on an email basis for so was using the annual interest, and it's operating

91
00:17:56.140 --> 00:18:06.430
Bill Ladewski: The last 2 years we have not had to do that so the interest has been able to stay in the endowment as far as investing back into the endowment. That's a kind of a long term

92
00:18:06.550 --> 00:18:07.530
Bill Ladewski: it

93
00:18:08.120 --> 00:18:10.559
Bill Ladewski: planning and and thought process that

94
00:18:10.820 --> 00:18:21.470
Bill Ladewski: B and F. Will go through. There's no plan. It's not in the current budget, but it's something i'm sure we'll be talked about this we, as Rosa gets a little more stability financially.

95
00:18:22.320 --> 00:18:33.929
Jenny McElroy: Yeah, and that's I think I I misspoke. When I said that that was in the current plan. What I meant was that we're not taking the money. and it's reinvested essentially. So the interest goes back into the fund.

96
00:18:35.710 --> 00:18:46.879
Jenny McElroy: so there's nothing to pay back, so to speak, since we weren't diving into the principle on the on it. But we do want the endowment to continue to grow, if possible. So that's a positive thing.

97
00:18:49.010 --> 00:18:51.500
Jenny McElroy: we'll talk about expenses. Then we'll talk about

98
00:18:51.520 --> 00:18:55.380
Jenny McElroy: revenue is a little bit. I think if I have my slide order right in my brain.

99
00:18:55.530 --> 00:19:12.389
Jenny McElroy: we've had like, I said, a significant reduction in annual expenses. it's been several years Russia has really in that time paired down to really the true essentials. Much of those savings are in the area of staffing.

100
00:19:12.400 --> 00:19:24.480
Jenny McElroy: as it says here, the offices at 2.3 fte right now. in the budget. but we only have actually 1.8 F. T. Working in the office.

101
00:19:24.490 --> 00:19:44.309
Jenny McElroy: so the budget is for staffing more, and the conversation in the committee has been how to get more staffing, how to get more support staff, equal support for membership staff, equal support for programs and projects, and all of the things that we want to do to support each other.

102
00:19:44.320 --> 00:19:59.960
Jenny McElroy: So that's really important to us. Also, as I mentioned, the the Roost Queue Journal has been on hiatus. It's return costs are capped at 8,500. This is down from about $30,000, so it's a significant savings in that expense.

103
00:20:02.200 --> 00:20:06.429
Jenny McElroy: a little bit about how your membership

104
00:20:06.720 --> 00:20:12.590
Jenny McElroy: money breaks down, and in kind of a way of thinking about it, anyway.

105
00:20:13.170 --> 00:20:20.889
Jenny McElroy: it's mostly for member services and and then operations Take another chunk of funds.

106
00:20:20.970 --> 00:20:31.239
Jenny McElroy: then awards sort of in the way that, or it's kind of pay for themselves. But they kind of don't, because there's a lot of work that goes into awards

107
00:20:31.570 --> 00:20:46.629
Jenny McElroy: educational services. So supporting, you know, conference supporting the website and marketing, supporting, continuing education. and then that small 4 at the end is the production cost of the journal.

108
00:20:48.110 --> 00:20:58.999
Jenny McElroy: So it's a pretty you know. Nothing is a tremendously huge amount. Nobody is. Nothing is like 50 of of how we're spending our money. it's very divided.

109
00:21:01.100 --> 00:21:10.750
Jenny McElroy: and then our our revenue membership and continuing education, which we sometimes call Ce as one of our many acronyms that we have

110
00:21:11.860 --> 00:21:18.320
Jenny McElroy: abbreviations. I'm: sorry continuing education comprise 84% of our total revenue.

111
00:21:20.230 --> 00:21:29.349
Jenny McElroy: And this was the second year last year, as the second year, we didn't have to pull any interest from our endowment to close the deficit. The endowment was allowed to grow

112
00:21:29.470 --> 00:21:31.549
Jenny McElroy: always a good thing.

113
00:21:31.650 --> 00:21:57.410
Jenny McElroy: revenues were a bit lower than what we budgeted for the year. That's really because when the budget for fy, you know, we're planning for fy 24 right now in fy 22, you know, when we budgeted for fy 22 it was, you know, an f like 19 and 20 and so many things were different. reports were slow. We had different financials. reporting systems and staff.

114
00:21:57.420 --> 00:22:01.350
Jenny McElroy: There was Covid. I think we can never underestimate that.

115
00:22:01.360 --> 00:22:17.659
Jenny McElroy: I think. we now have a more realistic understanding of our membership numbers, and we're budgeting, and you know we were just kind of shot in the dark, budgeting numbers for some things. And now we have a much more realistic understanding of what that's going to look like, at least going forward in the next year.

116
00:22:18.180 --> 00:22:23.349
Jenny McElroy: we've had multiple years of growth in continuing education, which is really great.

117
00:22:23.560 --> 00:22:34.119
Jenny McElroy: and that decline in membership has slowed or stopped, and we have that slight increase in membership. So that's sort of the main portions of our revenue at the moment.

118
00:22:35.670 --> 00:22:39.539
Jenny McElroy: and so budget overview for the year. That just ended.

119
00:22:39.720 --> 00:22:55.689
Jenny McElroy: this is what this net was projected to be the reality significantly higher. Some of that was an expense reduction. We had a 20% expense reduction and a 20% growth in continuing education.

120
00:22:55.860 --> 00:23:06.280
Jenny McElroy: we can't plan on those kinds of things. It would be nice if continuing education would keep growing. But, like I said, expense reduction is is going to probably go in the other direction.

121
00:23:06.590 --> 00:23:15.589
Jenny McElroy: as it should, because we're we're very much to the to the bare minimum and the bare essentials, and it would be nice to not have that be where we are on some of our budgeting

122
00:23:16.650 --> 00:23:33.400
Jenny McElroy: the projected budget for this next year. net isn't quite as high, but it is over $20,000. and the highlights. This budget includes the virtual forum. It includes plans to hire an additional half time. Staffer.

123
00:23:33.500 --> 00:23:45.369
Jenny McElroy: it. What we're looking at right now is maybe an 11% growth from last Year's budget to this year's budget. So not not the same. 20% growth. But

124
00:23:45.470 --> 00:23:47.829
Jenny McElroy: there is growth planned.

125
00:23:47.860 --> 00:23:51.500
Jenny McElroy: and then, you know, grows planned in membership something modest

126
00:23:52.540 --> 00:23:57.210
Jenny McElroy: which matches up with, our association goals.

127
00:23:57.330 --> 00:24:09.430
Jenny McElroy: this is a slide from Ala. These are their 2 big goals, increasing revenue and increasing membership and sort of the ways that they're thinking about that.

128
00:24:10.180 --> 00:24:15.499
Jenny McElroy: we are, we have aligned unit goals as part of our pivot strategy.

129
00:24:15.510 --> 00:24:37.739
Jenny McElroy: So we want to increase membership 1% per year with some of the things that are mentioned on there. like you, said the membership recruitment and retention, task force issue to report this fall. So I think there's more to come on membership recruitment, retention, things like student membership campaign drives and that kind of stuff.

130
00:24:37.990 --> 00:24:44.730
Jenny McElroy: Our second goal is to increase our continuing education revenue year over year by 2

131
00:24:44.880 --> 00:25:02.909
Jenny McElroy: and the virtual form is currently included in that continuing education, category and budget, as well as other programs. But likely the virtual forum will be sort of eventually pulled out of that budget line and made its own. but as it is, it it increases that

132
00:25:03.190 --> 00:25:04.470
Jenny McElroy: significantly.

133
00:25:06.400 --> 00:25:14.809
Jenny McElroy: so what do we need in the future? we need new, reliable revenue streams to complement membership and continuing education.

134
00:25:14.920 --> 00:25:29.979
Jenny McElroy: And we need to keep looking at how we use our resources and how they match with the goals of our pivot strategy, and also with, alas! new goals and new pivot strategies as well.

135
00:25:30.380 --> 00:25:38.990
Jenny McElroy: with that in mind our projects through June of 2,023. So for this committee's tenure

136
00:25:39.030 --> 00:25:56.469
Jenny McElroy: communication, and this Town Hall is an example of that we're gonna post it. We're also we have a a one page handout to share with people as well, and that'll be posted. We want people to know what's going on with the with the budget and the finance, and and how the organization is doing financial health wise.

137
00:25:56.710 --> 00:25:59.829
Jenny McElroy: we're talking about revenue generation

138
00:26:00.090 --> 00:26:14.210
Jenny McElroy: things like fundraising things like sponsors and vendors. Some of you may have been asked questions by your reps. If you are on boards of the sections, you know. What are our sponsors? What are our vendors. What relationships do we have?

139
00:26:14.220 --> 00:26:29.090
Jenny McElroy: and in those categories we want to build new opportunities, and we want to support people who are having really good relationships. If you have great relationships with your sponsors and vendors, how do we keep those relationships? Good? How do we keep them healthy?

140
00:26:29.290 --> 00:26:38.059
Jenny McElroy: So that you know. I mean it sounds a little mercenary, but so that they keep giving us money for stuff. and our our project is staffing the Russia office up

141
00:26:38.610 --> 00:27:01.070
Jenny McElroy: and then, while we are thinking about those things within Rsa, the larger Ala level changes that are going on. there's something called an operational agreement with the sections that has to do with how the things are funded that is changing the operational agreement. is shifting, and so that's a conversation and and a series of conversations that we're involved in

142
00:27:01.090 --> 00:27:06.959
Jenny McElroy: the Ala Level pivot strategy which has its own, its own

143
00:27:07.050 --> 00:27:10.390
Jenny McElroy: set of of plans and goals.

144
00:27:10.570 --> 00:27:29.240
Jenny McElroy: And then the other thing is the membership model and fee structure, something that we started talking about on budget and finance, and we put a little bit on hold, because Ala is addressing it, and it sounds like changes, maybe in fy 25 for some things related to membership models and fees

145
00:27:29.250 --> 00:27:43.889
Jenny McElroy: things like bundling things together, or having things that you know discounts or or package deals, or that kind of thing. are being thought about on the higher level first, and then we'll sort of see how those impact us

146
00:27:45.250 --> 00:27:55.179
Jenny McElroy: overall takeaways. Bruce is much more financially healthy than it has been in a very long time, and we're really moving in a financially good direction.

147
00:27:55.200 --> 00:27:59.379
Jenny McElroy: the current committee has done a lot of of work, and

148
00:27:59.390 --> 00:28:16.879
Jenny McElroy: Bill and Nina in the office have done a tremendous amount of work to get us to where we are. there's been so much good planning and thinking and creative ideas, and I know that there's more to come. So i'm really excited to to be part of this group.

149
00:28:16.890 --> 00:28:24.320
Jenny McElroy: and to to try to keep us on this good path and get us, you know. You know. Smooth sailing is what I would like us to get to.

150
00:28:24.370 --> 00:28:39.839
Jenny McElroy: So with that that's my presentation. We have a few minutes left for questions, so please feel free. We have a couple of questions. submitted. One is is member services the same as Ala overhead.

151
00:28:40.900 --> 00:28:52.220
Jenny McElroy: Kind of yes, yeah, when we when we think about it. but we're talking about it as as like Rusa member services. So a little bit more direct, I would say

152
00:28:55.580 --> 00:28:59.590
Janet O'Keefe: And also how is the new operating agreement going to affect Rosa.

153
00:29:00.680 --> 00:29:02.380
Janet O'Keefe: which you touch on a little

154
00:29:02.810 --> 00:29:06.500
Jenny McElroy: a little bit? I don't know that we

155
00:29:06.830 --> 00:29:13.329
Jenny McElroy: fully know because we haven't seen the new operating agreement in its entirety.

156
00:29:13.510 --> 00:29:19.439
Jenny McElroy: Bill, do you want to dive in on that one a little bit. I know you've been in more conversations recently.

157
00:29:21.250 --> 00:29:25.190
Bill Ladewski: Yeah, I guess maybe the best way we can answer that right now is, we really

158
00:29:25.360 --> 00:29:30.669
Bill Ladewski: don't know there there was a association wide

159
00:29:30.970 --> 00:29:34.999
Bill Ladewski: group put together to discuss the operating agreement.

160
00:29:35.100 --> 00:29:40.220
Bill Ladewski: and we will be meeting for the first time this month, I think, in another week or so.

161
00:29:40.250 --> 00:29:42.229
Bill Ladewski: so

162
00:29:42.430 --> 00:29:44.920
Bill Ladewski: kind of what's been shared up to this point

163
00:29:45.090 --> 00:29:46.270
Bill Ladewski: it's been.

164
00:29:47.430 --> 00:29:50.870
Bill Ladewski: you know, not very specific and more vague.

165
00:29:51.000 --> 00:29:53.970
Bill Ladewski: with kind of just saying the operating agreement will change.

166
00:29:54.030 --> 00:29:57.049
Bill Ladewski: It might go away entirely, but at this point it's.

167
00:29:57.150 --> 00:30:04.450
Bill Ladewski: you know. Unfortunately, I wish I could give you a more specific answer. We probably just don't know right now. We hopefully will in that

168
00:30:04.480 --> 00:30:09.950
Bill Ladewski: in the coming months, and once we do learn more. We'll certainly share that.

169
00:30:10.400 --> 00:30:11.050
Yeah.

170
00:30:12.360 --> 00:30:17.739
Janet O'Keefe: Okay. Next, should the our Usq relaunch be listed as a project for this coming year.

171
00:30:18.500 --> 00:30:28.570
Jenny McElroy: so not for budget and finance. the ruse queue relaunch is is now in the hands of of other people within Russia.

172
00:30:29.340 --> 00:30:59.329
Jenny McElroy: We had our suggestion that it continue. We had our suggestions on ways to make it continue financially in a more sustainable way, and submitted that and then that was taken out by a task force. And now now it's up to I'm. I'm not 100% sure to be honest. Who is the the go-to person on that. But it's not a project on on our plate unless and until it becomes a a financial project again. they're budgeted for they're budgeted within their cap, and as long as

173
00:30:59.340 --> 00:31:08.189
Jenny McElroy: as everything goes smoothly with the relaunch which I really do hope that it does. then it's not a project for us.

174
00:31:08.630 --> 00:31:11.330
Jenny McElroy: but it is a recent project. Totally right. Yes.

175
00:31:17.430 --> 00:31:24.589
Janet O'Keefe: Okay. I think i'm unfrozen now. is the halftime position shared with another division.

176
00:31:27.240 --> 00:31:31.089
Jenny McElroy: the half time that we're hoping to hire. Yes.

177
00:31:33.660 --> 00:31:37.619
Jenny McElroy: I I I think that was maybe part of the plan.

178
00:31:37.640 --> 00:31:40.420
Jenny McElroy: Bill, will you jump in on this one a little bit?

179
00:31:41.210 --> 00:31:43.180
Bill Ladewski: Yeah. Our

180
00:31:43.360 --> 00:31:46.239
Bill Ladewski: our partner in that will likely be

181
00:31:46.660 --> 00:31:50.750
Bill Ladewski: not a division, but an Aa office. Odlos.

182
00:31:51.060 --> 00:31:53.010
Bill Ladewski: that's who we were with

183
00:31:53.580 --> 00:32:03.430
Bill Ladewski: Prior. with this, with the stamp position that we that left. So it's likely we will be partnering with on that position.

184
00:32:09.270 --> 00:32:13.390
Janet O'Keefe: Well, that's all that are in the Chat and Q. A. So any more.

185
00:32:18.210 --> 00:32:36.059
Jenny McElroy: Oh, why we we just a second to see if anybody else pops in with the question. I really want to say thank you to everybody who joined us today. and anybody who might be watching this in the future. Thanks for your interest. Thanks, for you know, being good members

186
00:32:36.070 --> 00:32:43.240
Jenny McElroy: of the of the organization and caring about the budget and finance. I know budget and finance definitely has a reputation of being

187
00:32:43.280 --> 00:33:03.070
Jenny McElroy: somewhat boring but I feel like now that I've been in it. I have a I have a deep love for it, and and also for the fact that it's really enabling a lot of good work in other areas of the institution. So thank you. Thank you, everybody for joining us and thank you. Jennifer, for your last comment. Here. we'll pass that along as well.

188
00:33:03.770 --> 00:33:07.180
Jenny McElroy: I appreciate it. everybody have a a good day.

189
00:33:07.200 --> 00:33:08.260
Jenny McElroy: Thanks much.

190
00:33:08.390 --> 00:33:09.040
Jenny McElroy: bye.