Over the last three decades the APA has built up an endowment, its General Fund, that generates income to supplement publication revenue; grants and contributions; and membership, annual meeting, and placement fees. This investment income allows the APA, despite its relatively modest size, to offer programs and services that are usually offered only by much larger disciplinary societies like the Modern Language Association, the American Historical Association, and the
To preserve the endowment in the General Fund, the APA's Finance Committee has developed guidelines that limit our withdrawals to 5% of the Fund's average value over the previous three years. The recent declines in financial markets have therefore reduced the amount that it is prudent to withdraw from the General Fund. As a result, when it approved the budget for the current fiscal year (July 2009-June 2010), the APA Board instituted a number of changes in programs that would reduce expenses. These changes included suspension of automatic mailing of the Newsletter and the annual meeting Program to members, a major reduction in the amount of food to be offered at the President's Reception in
The next issue of Amphora will therefore be published in March 2010 rather than the customary December 2009. APA members in good standing for 2010 will receive that issue by mail only if they have checked the box on their 2010 dues bills requesting a printed copy. Nonmember subscribers will, of course, receive a printed copy as usual. The issue will also, as usual, appear on the APA web site.
The publication schedule for the subsequent issue of Amphora will be determined in Spring 2010 when the Association develops its budget for the next fiscal year. In the interim, we appreciate the support of both members and nonmembers for this effort to bring the excitement of the Classical world to the widest possible audience.