ALA American Library Association

ALCTS Financial Plan

Vision

ALCTS’s vision and mission are supported by a sound and responsible financial base that is derived from a broad range of revenue streams.

ALCTS provides financial planning and management that will ensure the association’s fiscal health.

Rapidly changing technology-based environment
Level/declining membership
Changing potential membership base due to increased opportunities in non-traditional library fields
Changing member expectations and types of involvement
Increased competition for limited membership base
Increasing number of initiatives requiring sophisticated technology
Changing attitudes of leaders and potential members about how the association operates
Evolving staffing patterns, levels, and responsibilities within acquisitions, cataloging, serials, preservation, and collection development areas
Increased need for practical staff training
Increased influence of the international environment

Strategy 1.	Continue the association’s sound and broad-based financial infrastructure to support its broad-based activities
Strategy 2.	Include realistic financial plans within all programmatic plans and initiatives
Strategy 3.	Include financial needs/impact statements (costs in terms of staffing and dollars) within tactical sectional/association plans
Strategy 4.	Support dynamic and innovative initiatives through the continuance of the association’s New Initiatives Program

Strategy 1.	Continue to support ALCTS interests in relevant IFLA programs and initiatives
Strategy 2.	Continue to support the representation for the American Library Association on the AACR2 Joint Steering Committee
Strategy 3.	Support, as feasible, other standards-based activities, particularly with NISO, that are relevant to ALCTS’s evolving interests
Strategy 4.	Support ALA and ALCTS programs and initiatives related to diversity
Strategy 5.	Support, as appropriate and feasible, efforts to promote affordable access to information

Strategy 1.	Investigate different membership opportunities and definitions with specific attention to: Increases in members who have paraprofessional library positions Incentives for retirees to maintain their memberships Increases in members who are in non-library information management professions
Strategy 2.	Investigate new potential definitions for core members vis-a-vis value added services
Strategy 3.	Review the membership dues program at each midwinter meeting (ALCTS Budget and Finance Committee and Board of Directors) using an agreed-upon set of review indicators and trend data coupled with the role of membership dues income as part of the overall ALCTS revenue stream
Strategy 4.	Focus membership campaigns with emphases on ALCTS program areas and new programs.
Strategy 5.	Investigate and implement additional members-only benefits to underscore advantages of ALCTS membership in order to encourage the retention and growth of members
Strategy 6.	Provide funds to support the membership business plan

Strategy 1.	Hold at least two preconferences for each annual conference
Strategy 2.	Hold at least three major CE and/or professional development programs during the fiscal year
Strategy 3.	Ensure adequate ALCTS staff support for event planning and actual events
Strategy 4.	Require the integration of financial planning with programmatic planning with the general expectation that continuing education (including preconferences, institutes, workshops, etc.) should be both self-supporting and overall revenue generating.
Strategy 5.	Find mechanisms for individuals to attend preconferences and conference programs through virtual means and with appropriate registration fees
Strategy 6.	Increase the level of virtual programming thereby increasing potential “attendees.”

Strategy 1.	Continue to generate revenues and services to members through quality publications
Strategy 2.	Determine if the current subscription “price” of LRTS reflects a fair cost
Strategy 3.	Increase advertising revenue for LRTS
Strategy 4.	Investigate and determine whether or not the ALCTS newsletter should be a benefit of ALCTS membership
Strategy 5.	Promote and support monographic publications
Strategy 6.	Maintain the frequency rate of association publications
Strategy 7.	Advertise association publications in the publications of other ALA associations
Strategy 8.	Pursue web-based publications to increase overall publication revenues and affordable access

Strategy 1.	Determine which programs should be supported by endowed and/or one-time funds obtained through fund raising efforts (e.g., the New Initiatives Program, the ALCTS President’s annual program, and ALCTS awards) and conduct the necessary fund-raising campaigns
Strategy 2.	Continue to carry out appropriate fund-raising campaigns through aggressive public relations programs
Strategy 3.	Recognize sponsors and donors in appropriate ways
Strategy 4.	Underscore the policy that the purpose of the ALCTS endowment is to support the development and enhancement of association programs and activities and not to support core association operations
Strategy 5.	Reinvest income generated by the ALCTS endowment back into the endowment.

Strategy 1.	Ensure a staff organization that meets the needs of the association
Strategy 2.	Attract and retain the best staff through competitive salary and salary increase programs as well as good staff development programs
Strategy 3.	Hire temporary staff, when necessary, to ensure continuance of association operations and programming as well as to support one-time staffing requirements
Strategy 4.	As salary savings exist though empty positions, use to ensure continuance of association operations, support, and programs. Salary savings should not be seen as a way to balance the core association budget
Strategy 5.	Ensure the necessary information technology infrastructure to support rapidly changing information technology requirements and innovative methods for meeting communication and information needs
Strategy 6.	Review progress towards meeting the goals and strategies of the financial plan at each annual conference (ALCTS Budget and Finance Committee and Board of Directors)
Strategy 7.	Maintain a strong working relationship between the ALCTS Budget and Finance Committee and the ALCTS Planning Committee in order to interface and monitor programmatic and financial planning and assessment processes for the association’s financial and strategic plans.