By Jamye Sagan, IDL SIG Treasurer

We end 2021 on a steady financial note—we were able to fund all of our activities, plus a little extra for next year. As of December 20, we have a total of $292.92 in our account—$292.92 in our vested funds, and none remaining in community funding. Vested funds can roll over each year, but any remaining community funding will be absorbed back into STC. Therefore, we always spend down our community funding before tapping into our vested funds. 

Unlike chapters, special interest groups do not have standalone accounts. Instead, they have sub-accounts directly under the STC umbrella. Because we did not meet again in person at Summit this year, we did not incur as many expenses such as door prizes and business lunch catering.

From September to December, we incurred the following expenses:

• Webinar and workshop stipends
• Zoom annual subscription

As for income, this year we made nearly $100 total from our webinars. These proceeds come from paid attendance from IDL non-members. IDL members and students attend our webinars at no charge.

As of December 20, we are still awaiting approval of our 2022 budget. The Budget Review Committee is still reviewing all STC community budgets; we expect ours to be approved any day now. We take great care to ensure that our funds will benefit as many of our members as possible. Thank you for supporting us, whether by attending our webinars and online events, reading/contributing to our newsletter, or perusing our website.

If you have any questions about SIG finances, please email me at treasurer@stcidlsig.org.

by Jamye Sagan, IDL SIG Treasurer

How much money do we have?

As of September 27, 2021, we have $789.67 in our account – $273.34 from community funding and $516.33 in our vested funds. 

Since Q2, we have incurred the following expenses: two speaker honoraria for our July 14 and September 15 webinars. We even made almost $16 profit through non-SIG-member webinar registrations. 

In the next couple of months, we will submit our reimbursement requests for our Zoom and Survey Monkey subscriptions. We use Zoom to conduct our educational webinars, leadership meetings, and virtual social events. We use Survey Monkey for our demographic surveys and elections. We also plan to purchase some small raffle prizes for our upcoming virtual social events – our annual Virtual Open House sometime in November, and our First Friday at Five event in December. 

Budget Time! Where do we get our funds?

We are about to begin working on our 2022 IDL SIG budget. Every year, all STC Chapters and Communities of Practice submit their budgets to the STC head office. From there, the budget committee will review all budgets and approve them. 

Our primary source of income comes from community funding and vested funds. Community funding are funds we receive from the STC office, based on the number of SIG members as of August 31. We receive a certain dollar amount per member. Since these funds do not carry over from year to year, we must use them or forfeit them. We plan our budget so that we spend all of our designated funding.

Vested funds are funds we have earned through the years. These funds can carry over year after year.

As we review our budget, we constantly check where we can save costs and, most importantly, see how we can use our funds to best benefit you – our members. 

We’d like to hear from you!

If you have any questions about SIG finances, please email me at treasurer@stcidlsig.org.