The 2023 Alabama REALTORS® Board of Directors met on Tuesday, August 29^th at the Alabama REALTORS® Building in Montgomery. The Board reviewed the 2024 Budget, considered an increase in dues to keep up with record inflation, considered governance proposals, discussed economic trends affecting members’ businesses, and NAR Legal update.  A summary of the action can be found below:

• 2024 Budget: The Board of Directors reviewed and approved the 2024 Budget. 
• Dues Increase:  The Board of Directors approved a 5% increase in dues to address the historical impact of inflation on the Association.  
• Travel Reimbursement Policy: The Board of Directors approved a policy that outlines specific guidelines for travel reimbursement amounts, eligibility criteria, and documentation requirements. 
• Insurance Coverage:  The Board of Directors approved a structured policy to ensure AAR and its subsidiaries maintain adequate insurance coverage, including annual review of policies and periodic insurance audits. 
• Inflation Planning: The Board of Directors approved the creation of a policy that outlines the use of the Consumer Price Index as a guide for recommending annual dues amounts to the Board of Directors.  
• Annual Conference: Registration for Annual Conference 2023 is still open! The conference will be held on October 17 – 19, 2023 at The Lodge at Gulf State Park in Gulf Shores with keynote speaker Bo Jackson for the Awards and Installation Dinner.
• Alabama Economic and Real Estate Report:The Board discussed the July Alabama Economic and Real Estate Report and projections for the economy. The full July 2023 Report along with other monthly and annual reports is here. 
• Alabama REALTORS® Foundation Scholarship – The Alabama REALTORS® Foundation Education Scholarship is open for applications! Applications for the Fall 2024 school year are open now through December 31, 2023. If you know of a member with an eligible child or grandchild, please be sure you share the information with them.