Letter from the Treasurer

CrossRef Annual Report 2013/2014

L E T T E R F R O M T H E T R E A S U R E R . CrossRef completed 2013 in a strong financial position. Revenue of $5,737,137 came in 3 percent over budget, and expenses of $4,981,761 were approximately 3.5 percent under budget, yielding an operating margin of 13 percent, about the same as in 2012. Both revenue and expenses were up over 2012: revenue was up 11 percent and expenses were up 10 percent. The 2013 year-end overall cash position of almost $2.8 million is more than sufficient to cover one quarter’s operating expenses, in accordance with policy established by the Board of Directors. CrossRef continues to grow its programs and supporting staff while remaining securely close to budget. The year 2013 ended with a clean audit. As in 2012, CrossCheck operated with a surplus, and for the first time, CrossMark paid for itself. Both FundRef and CrossRef Text and Data Mining are now live. The Board approved the recommendation of the Member & Fees Committee that there be no fees for member participation in either of these new services at this time. These two services are of direct benefit to funding agencies and the research community. Together, and as a backbone to CHORUS, they signal a significant broadening of constituencies directly engaged with CrossRef. This, coupled with the growing number of distinct programs offered by CrossRef, has led to new expense in a branding and outreach effort aimed at a stronger awareness and LETTER FROM THE TREASURER clearer identification of CrossRef itself as the provider of these distinct services. An overhaul of the CrossRef web site is part and parcel of this rebranding program, which spans 2013 and 2014. Notably, the Board approved a Financial Reserve Policy in 2013 that called for establishing a Capital Reserve Fund of $1 million to be fully funded as soon as reasonably possible. The present fiscal health of CrossRef has enabled the Board to reach that goal sooner than expected, with full funding achieved as of the end of September 2014. And for the fifth year running, sound fiscal policy and excellent financial management by staff has enabled CrossRef to continue growth with no increase in dues or fees for members. Bernard Rous, Treasurer C R O S S R E F A N N U A L R E P O R T. 2 0 1 3 / 2 0 1 4 9


CrossRef Annual Report 2013/2014
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