Orientation for Chapter Leaders Developing Management Skills Long-range Financial Plan for the Oklahoma Library Association In order to provide a stable organization for its members, the Oklahoma Library Association must work with a Long-range Financial Plan in concert with its Long-range Program Plan. The financial and program plans offer both continuity and flexibility in order to serve the membership well. I. Background The Oklahoma Library Association is a nonprofit 501(c)(3) organization that strengthens libraries, library services, and librarianship within the state. II. Program Goals The Oklahoma Library Association maintains an office and Executive Director. The Association, working through its members, provides a diverse program of continuing education, government relations, advocacy, publication, and communication. The primary program responsibility is to facilitate members’ activities and initiatives by providing coordination and support. The Oklahoma Library Association supports the following program assumptions: A. B. C. D. Sponsor an annual conference. Offer high-quality, cost-effective continuing education programs throughout the state. Continue to provide an advocacy role within the state. Maintain effective channels of communication with the membership, including publishing the Oklahoma Librarian and maintaining an Association Web site. E. Maintain and strengthen the financial stability of the Oklahoma Library Association and actively seek sources on income for the organization. III. Financial Goals Financial stability is a function of adequate and dependable revenues from diverse sources. While some fund balance is appropriate to cover unexpected revenue shortfalls or unbudgeted expenses; as a member organization, most of our money should provide benefits for our members. In addition, it is assumed that expenses will not exceed revenues and that prudent fiscal management is the joint responsibility of the Executive Director, the Budget and Finance Committee, and the Oklahoma Library Association Board. IV. General Financial Objectives A. Financial Stability: Revenues are generated from a mix of dues and non-dues sources. 1. Membership dues should cover personnel and administrative costs (for example, salary and benefits for the Executive Director, salary for the legislative liaison). If personnel and administrative costs exceed the dues revenue (personal and institutional), a review of the dues structure will be undertaken. 2. Non-dues revenue includes continuing education, conference, donations, and grants. Continuing education workshops and the annual conference are revenue-generating activities. a. Workshops and the annual conference should provide for the operating costs of the Association; for example, printing, postage, computer, and utilities. Funds generated from the annual conference will be used in the next year for operation of the Association. Orientation for Chapter Leaders Developing Management Skills b. Workshop minimum registration (with the exception of Legislative Day, that is not a workshop) will be $30.00. Administrative costs for workshops will be included in workshop budgets. c. All divisions, round tables, and committees are responsible for a minimum of one workshop annually as well as one conference program. 3. Divisions, round tables, and committees are expected to submit an annual budget for their respective division, round table, and committee by July 1 of each year. All divisions, round tables, and committees should operate with the prepared Oklahoma Library Association budget approved each year by the Oklahoma Library Association Board. Funding requests from divisions, round tables, and committees should follow the approved requisition procedure to secure funds for payment of invoices. 4. Programs and services made available to nonmembers will be priced at a higher rate than to members. 5. The Association will achieve a fund balance equivalent to 90 days of operating funds by June 30, 2000. B. Financial Planning 1. 2. 3. External funding for programs and services will regularly be sought. Continuing education opportunities will be marketed to new audiences. Certain services may be reserved for the exclusive benefit of the Association’s members. C. Opportunities for Growth New programs and services that generate new revenue and/or increase membership will be investigated and evaluated. .