by Laura Knauss, AIA, Treasurer
For all of you working from home, working in socially distanced offices and working to keep your practices flourishing, we applaud you! Like you, our Chapter has had to evolve and change in response to the pandemic. While Chapters throughout the nation have struggled to hold on, the Central Valley Chapter is in a solid financial position thanks to foresight of this Board, previous Boards and the leadership of our Executive Director. Of note:
- No Dues Increase for 2021 Each year AIA gives Chapters the ability determine if they would like to increase their dues Due to the uncertainty of our times, we have elected to maintain 2020 dues levels.
- Reserve Policy In June, the Chapter’s Board of Directors adopted a reserve policy to ensure that we can continue to provide service to our membership even in difficult economic times; the reserve is also available to cover special initiatives or unanticipated expenses or to save for large capital purchases. The reserve fund will be equal to fifty percent (50%) of the annual operating budget for the Chapter. In the event of extraordinary or emergency circumstances, the Reserve Fund may be depleted to 15% of the annual operating budget. Depletion to 15% must be approved by the Board of Directors and the membership of the Chapter must be informed and provided the reason for the depletion as soon as possible. Excess funds will be returned to the general operating budget and/or used for designated purchases with Board approval.
- Financial Resiliency The Executive Committee of the Chapter’s Board of Directors has developed a set of financial resiliency goals for the near- and mid-term to ensure that we can provide the programs and member outreach envisioned in the five year strategic plan. You have seen, for example, the expansion of our online educational content. The relatively small investment we have made to provide online content will serve us well as we engage members beyond Sacramento now and into the future. Additionally, we are developing a set of “what if” financial scenarios that will allow us to respond proactively to changes in our primary revenue sources.
We hope that you will take advantage of the online programming of the Chapter to stay engaged and connected with colleagues and friends. And turn on your camera…we’d love to see you!