The ATA Chronicle - July/August 2020 - 11

monitor membership numbers. For
now, we're planning for at least a 5%
drop year-on-year. The conference, for
its part, as discussed earlier, will entail
a loss.
We're working hard on the budget,
starting with three scenarios for
revenue: best case, worst case,
and most likely. Our best case is
maintaining the status quo, with slight
declines in revenue across the board
and a manageable loss overall. The
worst case involves a major drop in
membership revenue coupled with
canceling the conference outright,
which now looks unlikely. In that
situation, we would incur the largest
one-year loss in ATA history. That
leaves us with what we think will be
the most likely outcome-somewhere
in between.
In all three cases, ATA will face
losses. Our most-likely scenario
forecasts a negative change in net
assets on the order of $400,000 for
the upcoming fiscal year (2020-21).
That would come on the heels of
what's shaping up to be a $300,000
loss this fiscal year (ending in June
2020). As such, many of the theoretical
conversations that we've had in recent
years about ways to streamline the
Association, reduce overhead, and
lower our expenses will need to
become practical implementations. The
decisions we make in the next three to
six months will be crucial to ensuring
ATA's continued financial success.
John Milan, CT is the treasurer of ATA and
chair of ATA's Finance and Audit Committee
and ATA's Strategy Committee. He is also an
ATA-certified Portuguese>English translator.
He is an economist, writer, and lecturer on the
business and economics of language services.
He was an adjunct professor of economics
in São Paulo, Brazil, for 10 years. He has
been involved in the Carolina Association of
Translators and Interpreters (an ATA chapter)
since 2005, spending eight years on its
board of directors, serving as president
from 2013-2016. He has an MS in applied
microeconomics from Ohio State University and
degrees in international political economy and
Spanish from Indiana University.
Contact: john@milanlanguageservices.com.
www.atanet.org

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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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