For the ninth year in a row, The Florida Bar will not have an increase in its annual membership fees, but its 2009-10 budget will reflect the hard economic times by running a small deficit.
The Board of Governors at its April 3 meeting in Coral Gables approved next year’s fiscal plan as recommended by the Budget Committee.
Budget Chair Jake Schickel said next year’s budget will spend almost $38.3 million, compared with $39 million this year. Revenues are projected at $38 million, down from $38.8 million expected for 2008-09.
“We have sufficient reserves to cover that amount of money without a problem,” said Schickel, adding the budget has no new programs and provides for no new employees.
Two major items regarding the 2009-2010 budget are funds to be set aside for redesigning the Bar’s Web site and an increase in the amount of fees being allocated to the Clients’ Security Fund. Bar rules allow up to $25 of each member’s annual membership fees to be used to support the fund.
“The board in the past has allowed the Clients’ Security Fund to take up to $25 of the dues and in recent years we have allocated $20. This year we are proposing it be increased to $25,” said Schickel.
Later in the meeting, Bar President Jay White announced he had appointed a special task force to study the Clients’ Security Fund, which is facing a sharp spike in the number and size of claims.
According to figures provided for the board, income from annual fees will remain the major revenue source for the Bar. It’s projected at $22.6 million for next year, compared with $22.2 million this year.
The board will consider members’ comments on the budget at its May 29 meeting.
— Courtesy Florida Bar News