ACM president's letter: relation of ACM activities to finances
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Activities Let me start this month's discussion by stating that we have no financial difficulties now or on our horizon. Although I continue to take a very conservative view toward expenditures , and toward our long range financial health, there is certainly no cause for concern at this time, nor in the foreseeable future. (Other presidents have said this and have had to eat their words; I hope I don't fall into that trap.) The principal exception to this relatively rosy picture is of course the inflation which hurts ACM as much as any individual, and a worsening economic situation in the oountry. More about that later. It is, in fact, because we seem to be in fairly good financial shape that the Council can actually consider some aspects of finances which are more directly of concern to the members than our more normal preoccupation with detailed reports and forecasts. We have just finished a Council meeting in which the Executive Committee-which is responsible for preparing the detailed budget for Council decision-was given the general views of the Council on possible program directions of the ACM and the implications on the financial picture. In this letter I would like to inform you of some of our considerations , and invite you to write me stating your views. For the first time, and as a result of good papers written by the Treasurer , Aaron Finerman, the Council was asked to consider the next budget (i.e. for Fiscal Year 76 which starts July 1, 1975) with some attention to what might be happening in FY 77 and FY 78. There are a number of philosophical questions which were raised. The first and perhaps the most significant is a decision to be made of expanded activities versus a later date for an eventual dues increase. Before anybody gets upset at the latter phrase, let me assure you that we definitely do not plan a dues increase in FY 76 (unless catastrophe strikes, in which case ACM will have even larger problems to contend with than a dues increase). However, it should be no surprise to you that inflation affects ACM just at it affects individuals and other organizations. All of our costs keep going up, and eventually we must raise our income to meet them, or else reduce our services. We recently raised nonmember subscription rates on our publications, but our last …