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ASSOCIATION BOARD APPROVES MEMBERSHIP DUES INCREASE
by Tom Cox, Vice President
TMLA, Inc.
On
the Recommendation of the Finance
Committee and the Association Treasurer, at its meeting on July 13 the TMLA
Board of Directors approved a $5.00 increase in membership dues, from $25.00 to
$30.00, for the fiscal year 2002-2003.
Why
a Dues Increase at this Time? Of
course our annual expenses for lake research, administration, newsletter
publication and other program support increase each year for inflation. But the
principal reason for an increase this year is that for several years we have
followed the practice of paying our operating expenses out of a combination of
dues income, general savings and the income from our Fixed Income Fund.
Our General Savings Fund was comprised of special gifts to the
Association in years past. Our Fixed Income Fund, which was donated to the
Association many years ago, with restrictions, has typically produced from $4000
to $5000 in unrestricted income which the Board has placed in a Piper Jaffray
Money Market Fund and drawn on each year to help meet operating expenses.
Now,
as of the end of fiscal 2001-2002, both our General Savings Fund and the Piper
Jaffray Money Market Fund have been completely drawn down.
While the Fixed Income Fund will continue to generate interest income
which we can use to help fund operations, the total of our interest and dues
income will fall short of our anticipated operating expenses by about $3300 in
coming years. The Board further
believes that the membership supports the Association’s current environmental
and educational programs and is reluctant to curb them.
Our
Association Now
has 666 paid memberships. The
approved $5.00 dues increase will provide $3,330, which, together with the
Board’s prudent management of expenses, will enable the Association to
continue the current array of activities that mean so much to the environment
and to the Ten Mile community.
The
Membership Renewal Notice included
with this newsletter reflects the dues increase, and provides an opportunity for
members to make additional gifts to the James W. Schwartz Environmental
Protection Fund, from which we fund the Kenfield Bay Project, as well.
Please note -- no income from dues or from the Fixed Income Fund is used
for the Kenfield Bay land purchase: the land purchase is made exclusively with
special gifts donated to the Association and designated especially for that
purpose.
