2026 SOCO Finance Committee Report

Peter de Boor (161-710 Washington DC), chair; Mike Scialabba (389 Orlando), Bill Johnston (148-462
Atlanta), Mark Libby (256-733 Birmingham)

The reconciled balance as of the close of the fiscal year (5/31/26) is $25,387.93
The balance as of 6/18/26 is $24,630.98.

Income

Per Capita $ 5,844.00
Registration $ 5,300.00
Total Income $ 11,144.00

Expenses

Conference $ 7,847.09
Honoraria $ 1,500.00
Office $ 31.95
Travel
Total Expenses $ 9,379.04

Net Income (Loss) $ 1,764.96

The expected remaining expenses of the 2026 annual meeting are around $6000, and the expected remaining
balance is around $18,000.

Previous Recommendation Follow-up

1. That the Secretary-Treasurer place a reasonable amount of the assets into an interest-bearing account. The Secretary-Treasurer has opened an interest-bearing account.
2. That the Secretary-Treasurer invoice locals for per capita dues and one delegate’s registration in early April, with a separate invoice for additional delegates. The Secretary-Treasurer invoiced locals in early April.
3. That the Bylaw Committee consider a bylaw amendment imposing a late fee on locals that don’t pay in time to reconcile the finances for the fiscal year (possibly mid to late May). The finance committee no longer recommends imposing a late fee on locals.
4. That the Bylaw and Finance Committees have a joint meeting to consider changes to the bylaws to address potential excess accumulation of assets by the Conference. This committee finds that a baseline balance of $15,000 would reasonably cover anticipated annual meeting expenses. Given the minimal increase in net assets for FY 2025-2026, the committee recommends continued observation on this issue, with no need for immediate action.

New Recommendations: none

The finance committee commends Secretary-Treasurer Apana for his careful and precise stewardship of the
conference finances.