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March 2024 |
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You are receiving this monthly newsletter because you are the Chair, Chair-elect, or Treasurer of an ASIS&T SIG or Chapter. Please read for ASIS&T policies, procedures, and upcoming deadlines that are pertinent to your position. |
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RETAINED EARNINGS AND ALLOCATIONS |
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All SIGs and Chapters have two sources of revenue available to them each year: earned revenue and an allocation from HQ.
EARNED REVENUE Throughout the year, SIGs and Chapters can earn revenue through activities, such as:
Revenue earned is retained by the SIG or Chapter at the end of the Fiscal Year. SIGs and Chapters should maintain a modest level of retained earnings to support ongoing activities, but are encouraged to develop a plan for the expenditure of significant retained earnings on a project or undertaking that will create value for members. Retained earnings carry forward to future fiscal years if not spent, up to a maximum of 5 years at which time unspent retained earnings will revert to the ASIS&T retained earnings account. The oldest retained earnings will be spent first.
ALLOCATIONS SIG Allocations: In May of each year, HQ staff will run a list of current paid members of ASIS&T who have indicated they are members of a SIG. That roster serves to document the number of members of that SIG used for the purpose of determining SIG allocations each year. The Board will budget a set amount each year to be distributed throughout the SIGs as their allocation. The total fund is divided among the SIGs based on the number of members each SIG has. The greater the number of members of a SIG, the larger their allocation.
Chapter Allocations: In May of each year, HQ staff will run a list of current paid members of ASIS&T in the region including the amount of member dues generated by those members. That roster serves to document the value of membership generated by that Regional Chapter and is used for the purpose of determining Regional Chapter allocations each year. The Board will budget a set percentage of overall dues to be allocated to Regional Chapters based on the annual budget. The percentage is determined annually based on overall ASIS&T membership and the financial priorities of the organization. Each chapter’s allocation will not be less than $500.
SIGs and Chapters will be notified of the amount of their allocation in June of the preceding fiscal year so that they may create their budget for the coming year. Allocations must be spent within the fiscal year for which they are allocated or those funds are forfeited at the end of the fiscal year. SIGs and Chapters that have not spent any of their allocation in the prior year will not receive an allocation in the subsequent year if the amount of the allocation due is less than the amount of retained earnings held by the SIG or Chapter. SIGs and Chapters that fail to submit an annual report and budget by July 15 each year will not receive an allocation for the subsequent fiscal year.
This information is also available in the SIG Officer's Manual or the Chapter Officer's Manual. |
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SPECIAL PROJECT FUND REPLACED WITH ASIS&T GRANT PROGRAM |
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The ASIS&T Board voted in January to discontinue the Special Projects Fund which provided funding for SIGs and Chapters to undertake innovative projects outside of the scope of their annual activities.
In its place, ASIS&T will be launching the ASIS&T Grants Program. This program will essentially offer the same opportunities to SIGs, Chapters, and Committees but with a few modifications. For example, a SIG or Chapter may request funds through the Grant Program at any time of year. If there is money available in the current budget then it can be funded right away, otherwise funding may wait until a future budget cycle. Chapters and SIGs with retained earnings will be asked to spend those funds before using any grant funds, making this a good way for Chapters and SIGs to spend those retained earnings that must be used up by the end of 2025.
Apply for an ASIS&T Project Grant.
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PROPOSE A WEBINAR |
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ASIS&T is now accepting Webinar proposals, and SIGs and Chapters are the best sources of webinar content for members. Please submit this FORM to propose a webinar. All webinars that cover topics deemed to be of interest to the ASIS&T membership and related communities will be considered. Once approved, the hosts/presenters will be contacted by ASIS&T staff who will coordinate and staff the webinar.
All webinars hosted by ASIS&T will be free to current ASIS&T professional, student, and retired members. Non-members and ASIS&T Community Only Members will be charged a small fee of $25. The rationale for this policy is to ensure that members realize the value of their dues through free access to a product that would otherwise cost them an additional expense. Revenue from the first five paid registrations is kept by ASIS&T to cover administrative costs. Any additional revenue is paid to the SIG or Chapter.
For more information, visit the ASIS&T website page on proposing/hosting a webinar. |
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WHAT'S NEW WITH YOU? |
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ASIS&T HQ wants to know what's happening with your SIG or Chapter! Please email Pamela Yonker at pyonker@asist.org with any announcements, information about events, or news to be included in the Weekly Roundup or Inside ASIS&T newsletters. The deadline for Weekly Roundup is every Thursday by 5:00 PM EST. The deadline for the next issue of Inside ASIS&T is March 13, 2024 at 5:00 PM EST. |