ABRF EBrief – August 2024
ABRF Members,
The ABRF Executive Board met recently and is pleased to share this summary of their discussions:
- ABRF Mid-Year Financial Review
Based on higher net revenue from the 2024 Annual Meeting, ABRF's current projection for 2024 is an increase in net revenue of approximately $46,000, compared to the original budget amount of $4,000. This includes approximately $18,000 in additional expenses authorized by the Board since the original budget was approved.
- Financial Metrics
ABRF's key financial performance indicators include a favorable current assets ratio (92% of annual expenses) and an improved net margin. ABRF's investment assets of just over $1.5M are equivalent to 75% of annual operating expenses, which is below the goal of a full year of operating expenses held in investment reserves. Year to date investment results have been greater than 9%. An additional $270,000 has been invested through ABRF Chapter resources, to contribute to reaching the investment reserve goal.
- 2025 Budget Planning and Improvements
The schedule to develop the 2025 budget includes the opportunity for Committees and Research Groups to submit requests for funding in 2025, and a review of ABRF Membership and Sponsorship rates. The draft budget will be compiled for review by the Finance and Audit Committee prior to a discussion with the Board in October. The 2025 AMR workplan and fee estimate will also be developed for review at the October meeting.
- 2024 Executive Board Election
The 2024 Executive Board Election will include at least 4 nominees. The Nominating Committee will invite all ABRF members to submit nominations in September for the election to be held in November. New Board members will be invited to participate as observers in the monthly Board meetings beginning in January.
- Research Groups/Committees Updates for Board Input
The DNA Sequencing Research Group (DSRG) proposed depositing their 2022 study data at Geo for potential collaboration and proper credit, leading to discussions on the challenges of enforcing data citation and the need for a more proactive approach.
The DEIB Council was asked to develop an ABRF guide to hosting inclusive meetings.
ABRF has had positive meetings with representatives of the National Council of University Research Administrators (NCURA) to present future programming of mutual interest, including an introductory Town Hall and potential sessions at each group's 2025 Annual Meetings.
Feel free to contact me if you have any questions or suggestions for the Executive Board.
Thank you for your continued support for ABRF.
Best regards,
Soma
Thayumanasamy "Soma"sundaram, Ph.D.
ABRF President
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Ken Schoppmann
ABRF
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