<li>Our membership is small but stable, with significant losses over the past few years of inactivity. As of this writing, we have a total of 98 members, of which there are 74 Regular, 20 Life, and 4 Honorary (Associate) members. (Nine of the Life members have not been heard from lately, thus their status is in question.) That said, applications have resumed, with 5 new members and 2 reinstatements accepted to date. Our Internet presence has contributed markedly to these new members.</li>
<li>Our finances are presently stable, with good potential for long-term growth.
<ol type="i"><li>The investment of about $200,000 as an endowment will provide for all of the Society's fixed costs. Adjustments will be necessary and will be made as needed to keep up with increased costs and varying returns.</li>
<li>The “building fund” stands at about $60,000 at this point, and is being managed a bit more aggressively than our endowment for long-term growth.</li>
<li>Working funds amount to about $24,000. This is higher than we would prefer, but with possible capital expenditures and multi-year purchases (such as insignia) in the offing, we have chosen to maintain this level at least until next August.</li>
<li>All needed software and support for the in-house systems have been obtained free. Linux operating systems and open source software are the standard approach; to date, no needed task has been identified that requires paid software, and none such is expected. The one exception is the possible use of one Windows-based machine as a print server for obsolete printers.</li>
<li>New web site:
<ol type="i"><li>The web site is online and generating both interest and revenue.</li>
<li>Online contact has generated 100% of all sales and non-member subscriptions, and the vast majority of all membership renewals and first contacts with new members to date.</li>
<li>A members-only section will be delayed until at least August 2008 while we complete work on the phases installed to date. There remains much work to do, most obviously inputting all of the back issues and other material for sale. Given the revenue potential, this will take precedence over enhancements.</li>
<li>Work on the web site was hired out to expedite our online presence, and that has proven most satisfactory. Work was divided into three phases:
<ol type="a) "><li>Phase I was planning, work complete.</li> b) <li>Phase II was deployment of the base system, work complete.</li> c) <li>Phase III is a collection of future developments that will be taken one at a time. Board assistance in prioritizing these will be solicited.</li></ol></li>
<li>We now have sufficient confidence in the new site that it is appropriate to take the old web site offline to save expenses. Monies recently paid are not necessarily wasted, as we continue to use the old web service provider for email forwarding services.</li>
</ol></li>
</ol></li>
<li>Procedures and Perspective
<ol type="A"><li>Very little has come to us in the way of procedures from our predecessors. One letter written by Sir Rodney suggests this was deliberate, as he didn't want his dead hand to prevent us from developing the procedures—or indeed the Society—in new ways. There are days we resent this courtesy.
The basic principles that guide our choices are to a large degree drawn from the experience of working for the Walt Disney Co., a firm well known for customer service. To this is added the Augustan traditions to create an atmosphere where we are never at odds with a member. Recent failures in our Society's record keeping (and a few of our own) have created challenges. By resolving these in favor of our members, potential members, and clients, all but one have been settled in a positive manner (and that one individual may find it surprisingly difficult to renew his subscriptions).
Key to this reorganization is the creation of a Champion for each Society program, said Champions to make up the Board along with the Officers. At present, some programs are having to share a Champion—we feel this practice should be phased out so that Champions will not have divided loyalties, or more importantly, divided time.</li>
<li>There are a number of large issues to be addressed in the near future. One of our goals is to itemize them all and present them in time for discussions at the Annual Meeting. We invite additional items, but at present our list includes:
<ol type="i"><li>The Augustan Omnibus and the future of publications: <ol type="a) ><li>Subscription price philosophy</li> b) <li>Possibility of a return to multiple publications</li> c) <li>Journal of Ancient & Medieval Studies—merger, independence, or termination</li> d) <li>Payments to authors</li> e) <li>Electronic distribution</li></ol></li>
<li>The list of Society programs to be active. We presently have more programs than we do members!</li>
<li>Plans for a return to a public Headquarters and the funding mechanism for same</li>
<li>Plans for a permanent Headquarters:
<ol type="a) ><li>Office space</li> b) <li>Library</li> c) <li>Museum</li> d) <li>Chapel and meeting space</li> e) <li>Lodging</li></ol></li>
<li>Long-range financial planning for Headquarters finance and growth</li>
<li>Charitable activities, both local and international (one local project has already been identified)</li>