More than 150 agenda items underwent Executive Board scrutiny, April 12-14 at AVMA headquarters in Schaumburg, Ill. Dr. James O. Cook of District V, Lebanon, Ky., chaired the meeting.
Initiatives approved by the board were funded in one of several ways. Creation of a One Health Initiative Task Force (see page 1434) accounted for some of the $78,360 expended from the contingency fund. The expenses for engaging a government relations firm to support the activities of the AVMA Governmental Relations Division (see page 1438) in 2007 were among the $72,500 authorized from the reserves; beginning in 2008, those expenses will be included in the budget. And a new Committee on International Veterinary Affairs (see page 1435) was added to the 2008 draft budget.
After changes were made to the draft budget to reflect the costs associated with newly approved programs, the board approved the 2008 budget. It is now headed to the House of Delegates for consideration this July in Washington, D.C.
Totaling approximately $28.8 million, the 2008 budget represents a $1.2 million increase over 2007. AVMA Treasurer Bret D. Marsh was pleased to report that it projects income over expenses at around $118,000—nearly twice the margin in the 2007 budget.
Notably, no dues increase was needed to cover budget expenditures, Dr. Marsh observed. "The Executive Board carefully evaluated the many programs and activities of the AVMA and is forwarding a very realistic budget for the 2008 fiscal year," Dr. Marsh said. "I am very pleased with the budget, and I believe the House of Delegates will be pleased with what they will see."
One of the factors that make a dues increase unnecessary is the long-term fund of the AVMA's investment policy, the treasurer said. The board approved a recommendation to increase the principal limit in the fund from $8 million to $10 million, enhancing even more the purchasing power of funds held for future expenditure.
Some key actions from the April Executive Board meeting are reported on pages 1434 to 1439. More coverage will follow in the June 1 issue.
Photos, top: Dr. James O. Cook; bottom left: Dr. Charles M. Hendrix; bottom right: Dr. Richard E. Coon. Photos by R. Scott Nolen