Treasurer’s Report

A Stronger AEG

here is an old saying, “the cracks let the light in.” While intuitively that might not seem relevant, it is surprisingly clear. It is AEG earns income primarily from the Annual Meeting and from membership. Overall AEG’s account balances are consistent with where we Maddie German, 2019–20 AEG Treasurer T human nature to avoid discomfort as much as were financially at this time last year. Because of possible, to tolerate the known situation, even if it the uncertainty regarding the Annual Meeting due is not ideal, but inevitably something will happen, to the novel coronavirus, our Operations Income is and the learning we experience allows us to grow, down from this time last year; however, our other expand and become better, illuminated by the situaaccounts are generally equivalent to where we were in tion. 2020 has presented the world with an uncomfortMay 2019 (See Table 1). able situation that has forced everyone to work and think and act differently than before. As AEG expands our horizons and 2020 Annual Meeting we grow as individuals and as an association, we become stronger. We turn our weakness into our strengths, while also maintaining the competence and confidence in the areas we have always succeeded. Just because things are still new and slightly uncomfortable does not give us a pass to be complacent, nor does it permit us to simply wait until things are familiar. AEG has a responsibility as an organization to continue to provide opportunities for continuing education, networking, and fellowship among geoscientists across the world. Despite the unique circumstances for 2020, we continue to be available for our members. The fact that we are facing something new is an opportunity to be cherished. AEG now has the responsibility to bring your membership experience to the next level. With more options for online webinars and Chapter meetings, those folks who couldn’t always travel to see various speakers are now enjoying the same case studies, lessons learned, and research projects from the comfort of their home or office. With our updated website and Facebook groups, it is easier to get the information you need and interact (aka network) with your friends and colleagues. And this is just the beginning. As AEG Treasurer, it is my role to keep the membership up to date regarding the financial health of the association, so why the pep talk? For two equally important reasons: 1) It is my goal to write a letter that you enjoy reading. I understand a sheet full of numbers and statistics might not be the most exciting and interesting, so I endeavor to present the informaYou may have received notification in your email or through the AEG Insider regarding the sad news about the in-person Portland Annual Meeting being re-scheduled for 2023. As much as we all were excited to visit Portland, experience the amazing field trips, and re-connect with our fellow geoscientists from across the globe, to protect public health and safety Oregon’s Governor will not allow conferences of our size without a reliable treatment or vaccine being available. Fortunately, the hotel was willing to work with us and offered the same terms for an Annual Meeting in September 2023. Even though this year we cannot all be together in person, AEG is moving forward with our first Virtual Annual Meeting. You can read more about the meeting details in this issue of AEG News and at AEG’s website (https://www.aegannualmeeting.org/). We are excited to offer several well-known keynote speakers, informative symposia assembled by our Technical Working Groups, happy hour breakouts, and a Special Event Wine Tasting with AEG’s own Scott Burns. Since the Annual Meeting is a considerable investment in AEG’s financial structure for the year, I have been working with the 2020 Annual Meeting Contingency Planning Group to determine an alternative budget for our Virtual Annual Meeting. Obviously, the nature and structure for this meeting will be different. However, we are confident that the cost and expenses for this online event will balance out and not dramatically upset the whole of AEG’s financial stability. tion in a digestible fashion and with a smooth finish. Perhaps similar to your craft beverage of choice. 2) To demonstrate Membership how AEG is moving forward as an association outside of our The second primary income source for AEG is membership account balances. dues. With a changing corporate climate and a younger generation with a differing view on association membership, AEG,

Table 1. Income Comparison – 2020 vs. 2019 along with many of our contemporaries, has observed a con

Account May 2020 May 2019 tinued membership decline over the past five to seven years. The following table compares the May 2020 membership

Operations $ 111,041 $ 208,654 numbers to the May 2019 numbers (See Table 2).

Licensure $ 100,009 $ 80,640 The table indicates overall membership and full member

Treasurer’s Reserve $ 344,000 $ 341,676 ship have decreased from this time last year but also reveals encouraging developments in the post-graduate/early career

UBS Bank $ 106,198 $ 105,070 and teacher categories. Moreover, student membership is 63

Total $ 661,248 $ 736,040 percent higher than a year ago. The Board of Directors is