October 2002 General Board Meeting Update

Facing present realities, the General Board turned to a "Reduced Resources Program Scenario" in constructing its comprehensive plan at its October 12-15 meetings in Elgin. An operating deficit of nearly $800,000 through September was reported; a plunge which could drain away nearly a third of the agency's General Programs net asset reserves. Treasurer Judy Keyser termed the financial situation for 2002 and coming years as "not a rosy picture" meaning that the financial situation was akin to a submarine with a screen door. Meanwhile, to help shore up any leaks, the board has approved expenditures of up to $1.4 million. And in other news, the general secretary search committee hopes to call a candidate in time for consideration at the March board meeting, allowing a new general secretary to be in place in time to witness the "resource reductions."