Joseph E. Boling: Keep the elected officers answerable to the membership every two years.

Michael L. Ellis: None really! The safeguards are already in place – they just have to be adhered to more closely. However, I believe the membership should elect the candidates who are more capable of using plain old common sense, are not afraid to use their brain rather than look the other way, and the dedication to recognize and report potential issues without fear of repercussion.

Brian E. Fanton: The BOG should have a year-to-year plan to set the course to follow with the forecasts of income and expenses. We will monitor these plans and correct any problems that may happen. The changing of our economy makes one more aware, so should the BOG and staff.

Patricia Jagger Finner: The “balanced budget” has been approved, but let’s not forget it’s an estimate not a guaranteed figure.  Replenishing our endowment and creating new marketing income is necessary.

Jeff. C. Garrett: It is extremely important that those elected to the ANA Board of Governors have an understanding of basic financial statements.  Past Boards have approved proposed budgets that were allegedly balanced, but included income projections that were completely unrealistic.  The future of the ANA will depend on a Board that both understands the finances of the organization and has the courage to make the tough choices required. I would also like to see a long-term plan for the endowment of the ANA.  In the past the endowment has been a much too frequently tapped piggy bank.   Horrendous deficit spending, unwise legal actions, and ambitious projects have all been funded by the back stop of the ANA endowment.  This must stop and the ANA should adopt long-term plans to not only stop the erosion of the endowment, but explore ways to adopt a path of growth.   

Thomas G. Hallenbeck: The main safeguard to operating under a balanced budget is a fiscally responsible and conservative Board questioning all expenditures. Making sure that every cent spent is used on important educational ventures and not pork. An active outside financial committee that reports independently to the Board is also quite important.

Alan Herbert: Many of the needed safeguards are already in place. The governors need to maintain a constant vigil to ensure that the practices remain in place and are followed closely.

Paul Hollis:   Although there are a few isolated occasions where expenditures beyond revenues make sense, I think the easiest resolution to this problem is for the entire Board to agree that expenditures will always be less than revenues unless everyone agrees to make an exception under extraordinary circumstances.

Chester L. Krause: The BOG passed a balanced budget clause for all Boards henceforth.

J.P. Martin: The real budget busters have been recent legal fees and lawsuits and insuring against them. “Keeping our noses clean” will go a long way in preventing these wasteful monetary losses. Clearly a balanced budget keeps us out of most financial trouble, but just as with a family budget, some flexibility is required for unforeseen events. However, overspent budgets must be the exception.

Clifford Mishler: There are no reasonable and realistic safeguards; really, as future Boards and management must be invested with the flexibility to act under changing conditions, making it mandatory that the membership elect responsible Board members who are committed to providing active, critical oversight of operational budgets and planning.

Walter A. Ostromecki, Jr.:   A year-round functioning external Audit Committee working with the Board and Staff to give close scrutiny to every line item expenditure. Establish a policy and procedure book for each ANA department/ expenditure and see that it=s followed. Ask our long standing volunteers to pay a small portion of the costs for convention related costs: banquets, housing, meals, medals, etc., just like the Board. The ANA cannot go back to the days of lavish spending, free this and that, Board and volunteer perks, etc, necessitating a continual tapping into our endowment. The Board needs to closely review each expenditure item on the monthly financial statements and ask Aspecifically what for?@

Thomas A. Palmer, Jr.:   A balanced budget comes from realistic, well-reasoned estimates of both expenses and income for all the Association’s activities.  Deviations of more than 10% from the accepted budget should be reported to the Board quarterly; funds could then be reallocated if necessary.  Also, no new project should be approved unless funding is available.  In short, tighter management controls are necessary.

Scott Rottinghaus:   Board members need business experience to be able to understand the finances of the organization.  Conflicts of interest should be identified and addressed.  Litigation needs to be minimized.  Earmarked funds and endowment principal should be protected from use for routine operating expenses.  Bylaw revisions should be undertaken carefully to preserve oversight of the ANA by the Board of Governors, whose constituency is the membership.

Jeffrey Swindling:   We can ensure fiscal responsibility through transparency and open communication with our membership. When proposing budgets it will be important to continue to project realistic revenue streams given the current economic climate. Reports on the economic health of the ANA should be communicated regularly to the membership through online publishing or printing in The Numismatist.

Michael S. Turrini: First, periodic and complete financial reports to the Board, with trends and reviews. Second, training and commentary for Governors to comprehend those reports. Third, establishment of adequate reserves. Fourth, membership ‘retention’ as much as ‘recruitment’. Fifth, possible hiring of a professional ‘Grant Writer’ to seek and to solicit additional funding. These summarize my thoughts to insure a continued sound fiscal responsibility over the next years.

Wendell A. Wolka:   We should routinely audit various services and programs which we provide to insure that we know how much they really cost.  While we may choose to subsidize some programs, at least we will understand the extent of that subsidy.  We should periodically adjust the charges associated with key programs so that we do not have to face huge step changes in fees that are “catching up” for longer periods of inaction.