The HRMA Board of Directors spent time reviewing the financial health of this organization and made some decisions to help ensure that HRMA will continue to be a prosperous organization well into the 21 st century. The Board also made some decisions to ensure that HRMA continues to have the financial ability to provide exciting and interesting programs and activities for this organization's membership. HRMA's 1997-98 fiscal year ran from July 1,1997 through June 30, 1998. A normal operating budget for HRMA includes expenditures on items such as speakers for monthly meetings, payments to the management company run by HRMA's Executive Director, and fees for production and distribution of the HRMA newsletter.
Revenue is generated from a number of sources.
The most prominent sources are member dues and monthly meeting fees. The HRMA Board has been able to find additional ways to cover the organization's expenses through corporate sponsorships and ad sales in the annual directory. HRMA had a very successful financial year during the 1997-98 fiscal year. The HRMA Board made several financial decisions to help plan for this organization's future. The Board also set aside specific funds into a separate HRMA Fund account.