SECRETARY'S OFFICE Board Committee Activities—II The discussion of t h e above subject begun in C&EN, Sept. 23, is continued here. Other aspects of Board operations have been described in C&EN, July 29, page 48, Aug. 1 9 , page 6 2 , Sept. 9, p a g e 72. Finance (1952). This committee is concerned with all ACS financial matters except investments. Many close relationships with other standing committees are involved, especially P u b lications, particularly in developing budgets. Annually in late October, each o p erating unit of the Society assembles information on its financial needs for the coming year. These a r e assembled, analyzed, and coordinated by t h e Controller in mid-November; t h e resulting document is transmitted t o all directors in advance of the early December budget meeting. Last December it consisted of 66 pages—six of summary, 22 of tabular details, and 3 8 of explanatory and justifying text b y heads of various operations. For t w o days prior to t h e Board meeting, details are discussed b y the Committee on Finance with staff personnel; for most of this period t h e Committee on Publications also is involved. At intervals the staff analyzes what is happening financially i n comparison with the budget; t h e Committee on Finance reviews these findings and makes its comments to t h e Board of Directors. It also reviews the monthly statements of financial operations. Changes in methods of reporting financial operations are suggested to make them more informative to directors. Two special jobs during the past few years have been extremely time-consuming. Both involve Society reserves. Funds h a d been created a t widely separated intervals to meet special situations, some through gifts, others from Society income, but without a broad integrated plan. In time it was evident t h a t size of individual reserves for assistance or protection of activities did not accurately reflect needs. I n development of a coordinated and logical structure, t h e committee first differentiated between t r u e reserves for which it retained the term "Funds," a n d revolving funds for which both periodic receipts and expenditures are 102
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1957
involved; the latter were named "Accounts." The need to protect important and continuing operations for which income might fluctuate widely was surveyed and new funds a n d accounts were created. Each was defined and necessary transfers were made. The second major undertaking has been the consolidation of all ACS investments in a single pool with bookkeeping distribution of assets and income among sources. This eliminates the need for cash in each fund or account and permits investment of a higher percentage of t h e money in income-producing assets. Also, it will prevent serious capital loss to funds or accounts too small to maintain a balanced portfolio of investments. The committee now is directing staff development of charts that will provide indicators of long-term trends. If successful, this will result in sounder planning and less variation in operations to meet temporary situations. Proposals for a new ACS headquarters building have involved work for this committee. Most of the 10 hours of its meeting on June 2 were devoted to such discussion. This committee also must be concerned with the broad problems involving retirement benefits for Society employees. The Finance Committee also must be certain that financial regulations meet current conditions. It must work with the Committee on Publications in consideration of subscription and advertising rates and of new publishing ventures. The work of the two committees has been closely intertwined in pricing the Fifth Decennial Index. Publications (1948). The radical change in Chemical Abstracts charges with a current base price of $350 and discounts to provide rates of $80 to colleges and universities and $20 t o members for restricted use involved long and detailed study. The result was CA subscription income essentially equal to the cost of publication. Subsequently, consideration of many special situations and for investigation and elimination of abuses of the discount prices has been demanding. Both required staff studies with subsequent analysis of detail by t h e committee. The pricing of the Fifth Decennial Index has been a serious problem.
Introduction of rates for foreign nonmember subscribers higher than domestic and the annual recommendation of all subscription rates require study. The committee is concerned in the research program of Chemical Abstracts and Society activity in chemical nomenclature. During the past year, the committee has authorized revision of the Ring Index, preparation of a book in which the C&EN nomenclature columns of Austin Patterson will b e reprinted, and publication of a description of CA operations. When an editor feels t h a t more pages must be published than budgeted, this committee must b e consulted. Many broad policy matters are considered, such a s the serviceability of the Bylaw which gives the Society first publication rights for national meeting papers, punishability of papers based on government reports available on request, and possible revision of the copyright law. More or less continuously it studies the needs for and economic feasibility of n e w journals (in cooperation with the Council Committee on Publications) a n d ways in which our present publications better can serve the members. Even operating procedures are reviewed, such as publication of the manuscript receipt date, methods for review of papers for publication, a n d procedures for release of meeting papers. Its responsibilities include everything in t h e publications field, of which only a sample has been given. Member a n d Public Relations (1949)· All parts of Society operation which in any way a r e concerned with the attitudes of the members and of t h e lay public look t o this committee for informed advice from a perspective which often may be difficult of attainment b y those responsible for day-to-day contacts with a problem. The committee has been responsible for a broad statement of Society objectives and policies in this field. On t h e basis thereof, it has recommended several new activities a n d expansion of existing programs. It brought together in one spot within the Board knowledge of activities which are widely scattered throughout t h e staff b u t which have a common denominator. Also, it has provided balance t o a program which was difficult to obtain with scattered responsibility. (To be continued)
