The ATA Chronicle - July/August 2020 - 10

JULY TO DECEMBER 2019 + BUDGET continued

LOOKING AHEAD: COVID-19,
ECONOMIC CRISIS, AND BUDGET
The figures reported above are from
December 2019. Obviously, a lot has
changed since then. However, they
provide useful information on our
starting position as this crisis unfolded.
At this point (April 2020), as a result
of prudent management, ATA has
savings and investments in excess of

10

The ATA Chronicle | July/August 2020

$2 million, with $1.1 million of that
in cash, so it's protected against the
fluctuations of a highly volatile stock
market. This is an enviable position. It
means we have a financial cushion for
the next six months as we determine
how this crisis impacts our industry and
ATA in particular.
We've also explored some Small
Business Administration (SBA) economic

relief options in case things continue
in the wrong direction as a result of
the economic lockdown. However, we
haven't submitted a formal application as
of this writing.
Two trends that preceded the current
crisis are expected to be exacerbated
by it: declining membership and
dwindling/negative net income from
the conference. We'll continue to

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The ATA Chronicle - July/August 2020

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The ATA Chronicle - July/August 2020 - Cover4
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