The MAA continues to be in a solid financial situation. The net worth and
income continues to increase. The Association has an operating budget of
$8 million, investments of $7 million, grants of $6 million, and real
estate with an appraised value of $17 million. The most recent audit was
clean. Unfortunately, there was an operating budget deficit of $3 thousand
in 2007 and a similar deficit projected for 2008. Primary causes are an
unexpectedly low recovery of costs from federal grants, high cost
associated with the San Jose MathFest, and lower book income. Strong
returns on investments and some large unrestricted gifts in 2007 resulted
in an increase in net worth despite the budget deficit. Savings in
marketing, savings by holding the new Governors orientation at MathFest,
and conservative investments are helping to mitigate the current deficit.
In line with recommendations made by the Strategic Planning Group on
Governance, the Board approved a new council and committee structure for
the Association. The hope is to make coordination and governance more
natural and more likely to lead to innovative ideas and programs. To
retain more institutional history within committees, members appointed in
January of year n will be expected to attend the Joint Math Meetings in
years n through n + 3, providing some overlap between out-going and
in-coming members. The new committee structure can be found at http://www.maa.org/committees/.
The Strategic Planning Group on Membership provided a list of suggestions
for the Board to consider in future meetings. These include possible
reconfigurations of individual, institutional, and corporate memberships;
new international, section, and fellowship categories were suggested. The
Board will need to think about the impact of any changes in categories and
prices in conjunction with revenue goals, plans for physical and electronic
publications, and other goals for the Association.
The Board, through focus groups, provided input to the Strategic Planning
Groups on Sections and STEM Issues and the Mathematics Program. The former
was interested in ways Governors can be of most effect in the relationship
between the Association and the Sections. The later was interested
primarily in the ways that the materials produced by the MAA (e.g.,
Guidelines for Programs and Departments in Undergraduate Mathematical
Sciences) are or are not used by MAA members when they could be a valuable
Soon the Board will have received reports from the ten Strategic Planning
Groups that have been formed over the past three years. The wealth of
ideas and the desire to study and take action led to the decision to not
form new Groups.
Thank you for giving me the opportunity to serve as your section governor.
Please contact me if you want more detail about any aspect of the Board's
work, want to make suggestions, or would like to volunteer for a committee.
Submitted by David Housman,
Governor of the Indiana Section of the MAA