The Southwestern Historical Quarterly, Volume 79, July 1975 - April, 1976 Page: 366

Affairs of the Association
The auditor's report of the Association's financial affairs for the fiscal
year ending August 31, i975, is presented below. Total equities show an
increase for the year of $30,064.02, which on first glance appears quite
good. A portion of this-$4,426.25--came from the sale of Texas History
Illustrated, a cartoon booklet telling the story of early Texas. The work
was produced by the Association and the Houston Chronicle at the latter's
Mrs. W. D. White and Mr. John L. Tullis added $2,000 to the Coral H.
Tullis Award Fund which they established some years ago in honor of their
mother. The additional income from this fund, now $6,ooo, will be used
to increase the annual Tullis Award given to the person, institution, or
organization, making the most significant contribution to Texas history
during the designated year.
The Texas Education Association of Fort Worth made a grant of $5,ooo
to the Association, to be distributed in equal amounts over a period of five
years, for the establishment of a Leadership Award. The yearly $I,ooo
award is to be given to a Texan who has shown outstanding leadership in
promoting an understanding of the American way of life.
The total money from the three above-mentioned items amounts to
$11,426.25. These funds are restricted for specific purposes, however, and
they cannot be used for the general operating expenses of the Association.
Placing these funds aside, then, the net equity increase is less than $19,ooo,
a sum that does not begin to compensate for the inflation of I974-1975.
In the current fiscal year the Association will expend around $1oo,ooo
for the reprinting of Volumes I and II of the Handbook of Texas and for
the long-awaited publication of Volume III. Until enough copies are sold
to replenish that sum, the Association will suffer a corresponding loss of
income from the investment of that money.
To safeguard the financial position of the Association, expenses have
been trimmed as much as possible. The staff has been reduced in number,
travel funds have been virtually eliminated, and Riding Line has been dis-
continued. These steps will help to reduce the deficit in the Association's
General Fund.

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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 79, July 1975 - April, 1976, periodical, 1975/1976; Austin, Texas. ( accessed January 19, 2018), University of North Texas Libraries, The Portal to Texas History,; crediting Texas State Historical Association.