MS. DARLING: Good afternoon. I'm Lisa
Darling. I'm the president of the United World
College. That's my day job, anyway. But I also have
the privilege of serving as treasurer of this organization.
So the treasurer's report I shall deliver.
On the opposite side of your agenda is our treasurer's report
for the last year. It's a report that I think many of our
schools would love to emulate. At least I know ours
would. We don't do an audit every year, but we do a
review. We do a full audit every five years, a review in
intervening years. The review was clear and in good
shape. Our federal and state reports were submitted on time,
and as Burch mentioned, our reserves are growing steady now at
$255,000, moving toward our goal of one and a half times the
operating budget, which would be $320,000. We're not there
yet, but we're growing in that direction. We added about
$40,000 to reserves last year, as the report says.
What's not so clear in the report that I think is worthy of
mentioning is that we haven't had a dues increase for many years
and don't propose one for anytime in the near future. We
reduced conference costs for spouses, partners, and affiliate
members. Despite last year the weather preventing some folks
from actually getting to Tucson -- yes, how many people were in
that situation last year -- we had a good year, despite that
unexpected downturn.
So as Burch stated and as your report shows, we're in good
shape. I am proud to vouch for all of the numbers on this
sheet except for one. At the top of the page you see the
treasurer's report dated February 24, 2007. I am aware this
is 2008.