Treasurer’s Report: 2009–2011

By Frederick M. Azar, MD

The bylaws of the AAOS direct the Finance Committee to “manage, supervise and control the financial affairs” of the organization. As treasurer, I serve as chair of the committee; Joseph D. Zuckerman, MD, immediate past president, and Daniel J. Berry, MD, first vice president, are also members of the committee. Other participants in Finance Committee meetings include John J. Callaghan, MD, president; John R. Tongue, MD, second vice president; Karen L. Hackett, FACHE, CAE, chief executive officer; and Rich Stewart, chief financial officer. All members of the Board of Directors are invited to participate in Finance Committee meetings either in person or via teleconference.

2009 was a year of recovery
The AAOS was not immune to the effects of the economic downturn that started in 2008 and affected every sector of the U.S. economy. Although the economy continued its downward trend in early 2009, it gradually started to reverse course. The impact on our Academy was felt in several ways.

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