In 2005, SLA completed the 2004 audit and officially ended that year with a USD 46,012 operating surplus. Staff sent the Board of Directors the audit report with an explanation of the difference between operating budget and audited statements, and conducted extensive internal review of budget and accounting procedures and 2005 revenue and expenses.

Staff also projected 2005 year-end figures and notified the board of the 2005 year-end projections, with a prediction of another small surplus at year-end. Of particular note in the financial performance for 2005 were the following:

• A very successful 2005 Annual Conference that exceeded prior year attendance by over 37 percent.
  
  
• A breakout performance by the 2005 Info-Expo, with total booths sold reaching a level not seen in a decade.
  
  
• Solid performance for the SLA Virtual Learning Series, with total events doubled over the prior year.
  
  
• A consistent focus on innovation by staff that led to significant cost savings in a wide variety of areas.

2004 Financial Statements

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