Your Board of Directors and Executive Committee met at SRAI Headquarters in Arlington, VA, over the weekend of February 21-23. Read on to stay current!
President Kim Carter opened the meeting with a summary of recent Society activities. The general theme of the meeting centered on management of the Society’s finances. Overall, the Society is doing very well.
Executive Director, Evan Roberts, and Treasurer, Dominic Esposito, presented a five-year budget projection. This is a departure from the usual annual budget process. It marks the beginning of a longer view of events as well as projected revenue and expenses. The Board will use these projections to make investments in technology, process improvement, and staffing support to keep the Society growing and meeting the educational needs of the membership well into the future. In that regard, sales of the initial modules for the LevelUP program are ahead of projections including a number of institutional sales. Additional modules will be released in the coming months.
Outreach activities also received attention during the Board meeting. This year, a number of site visits to academic research centers have been arranged. Additional memoranda of understanding have also been executed with international sister research administration societies. These arrangements will provide reciprocal memberships and access to a great volume of educational content.
At the last Annual Business meeting, the new SRAI logo, color palette and brand standards were announced. The Board continued its work to bring the new marketing schema to the society’s sections and chapter. The design of new logos will be coordinated with the section and chapter leaders with targeted rollout during the coming years.
Planning for the upcoming section, chapter and annual meetings continues in earnest. The Board received updates for these activities and all are on schedule.
Dominic Esposito, Treasurer, updated the Board on the current fiscal year status. Again, the Society is doing well financially. Expenses and revenue have been effectively managed, year-to-date. The Society is well positioned to make necessary investments in new technologies and educational programs. The Board reviewed membership dues for the first time since 2010. Following a lively discussion, the Board voted to increase membership dues by $15 per year for full membership and $5 per year for Chapter membership. The increases will be coordinated with the beginning of the next fiscal year. The rates for Student and Retired members will not change in the current year.
The finances of the Society are reviewed by an independent audit firm each year. On another financial high note, the Society received a clean audit report with no findings.
Mark Hochman, Co-Chair of the Educational and Professional Development Committee reported that a number of training intensive workshops have been conducted or scheduled. The EPDC surveyed the membership earlier this year regarding the Distinguished Faculty program. The results of the survey were positive and confirmed that, while some improvements could be made, the program is meeting its defined purpose and the needs of the Society.
The Governance Committee presented a number of policies for triennial review. All passed as presented or with minor modifications. Additionally, the Board approved Terms of Reference for the Awards and Nominations Committees. A revised Conflict of Interest policy was also passed.
Revised bylaws for the International Section were presented by the Bylaws Committee and approved by the Board. The Bylaws had previously been approved by the International Section membership. The Board approval is the final step to implementation.
The Board adjourned in the early afternoon of Sunday, February 23, having conducted all of its approved agenda. The Board meetings are open to all members, with the exception of certain in camera sessions. Members are encouraged to attend in person, but a conference phone line is typically established for those members who are not able to travel to the meeting site.
Authored by Bruce Steinert
Medical College of Wisconsin