Governance Update, July 2022

The Board of Directors met on June 6, 2022 via video conference. In attendance were Naresh Agarwal, PhD (President);  Abebe Rorissa, PhD (President-Elect); Joan Bartlett, PhD; Maria Bonn, PhD; Tina Du, PhD, Anna Maria Tammaro, PhD; Lydia Middleton, MBA, CAE (Executive Director); and Chris Cunningham, PhD (Parliamentarian). Guest in attendance: Deanna Hall, Curatorm; Aminta Dawson, Administrative Assistant.

The Board discussed the following issues:

FY23 Budget
The Board reviewed an approved an FY23 budget that projects an operating deficit of $38,025 which includes all strategic investment for the year.

New Journal / Future Strategic Investment
The Board discussed the financial limitations related to undertakig new initiatives that were not envisioned in the STrategic Plan as cost centers. The Board approved the following motion: To freeze investment in any new initiatives regardless of merit until such time as at least two of the following 4 conditions are met.

a—A turn around in the market
b—Significant* revenue generation through the consulting program
c—Significant* revenue generation through meetings and publications
d—Better than anticipated performance of JASIST in the next 2 years
*Significant means that enough revenue is generated to result in a positive bottom line and enough net revenue to cover new costs.

JASIST Report
Steve Sawyer, JASIST Editor, provided the Board with a report on the state of the Journal.

Curator's Report
Deanna Hall, Curator, provided the Board with a report on her work over since becoming Curator and makign several recommendations. The Board asked for more detail on the recommendations before making any decisions on funding.

Consent Agenda
The consent agenda was approved. It consisted of:

• Minutes of April 4, 2022 Meeting
• May, 2022 Membership Report
• May 2022 YTD Income Statement
• May 2022 Merrill Lynch Statement
• Committee Reports Not Requiring Action