From the President, 1219 WYBJ, Vol. 42 No. 7. 10
| Author | Kelly M. Neville, Brown & Hiser, LLC Laramie, Wyoming |
| Position | Vol. 42 7 Pg. 10 |
The Wyoming State Bar's Tradition of Sound Fiscal Management
Kelly M. Neville, Brown & Hiser, LLC Laramie, Wyoming
The Officers, Commissioners and staff of the Wyoming State Bar are charged with the stewardship of your license fees and other Bar income, a position we do not take lightly. Your Bar wrapped up its fiscal year on September 30, 2019. Last year's Bar Treasurer, Ken Barbe, reported at the recent Annual Meeting & Judicial Conference at Jackson Lake Lodge that the Bar continues to operate from a strong financial position. I would like to take a moment to reflect on the current state of the Bar's finances and fiscal management.
The Bar's main source of income is members' license fees. However, the Bar is able to maintain lower fee rates for its members by generating non-fee revenue from various sources. By way of example, some sources of non-fee revenue include pro hac vice fees, interest earned on reserves, advertising in the Wyoming Lawyer magazine, and CLE programing. The Bar uses license fees and non-fees revenue to support its members in the practice of law and protect the public. It is important to note that, with the exception of Casemaker, all of the free or reduced-rate member benefits offered by the Bar are made available to members at no cost to the Bar. Conversely, the Bar earns a minimal amount of revenue from some of these member benefit providers.
The Bar's fiscal year runs October 1 to September 30. In advance of each fiscal year, the Bar undergoes a rigorous and extensive budgeting process. Bar staff and the Treasurer commence the budgeting process each summer with a review of the current year's budget, actual income and expenses to date and anticipated expense and revenue events for the upcoming year. The draft budget is reviewed with the Executive Committee which is made up of the Bar President, President-Elect, Vice President and Treasurer. It is then circulated to all Officers and Commissioners for consideration at the August meeting. Your elected Officers and Commissioners dedicate the majority of this meeting to thorough discussion of all material aspects of the budget. Based on the decisions made at the August Officers and Commissioners' meeting, a final budget is generally adopted at the September Officers and Commissioners' meeting.
The newly adopted budget takes effect...
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