FISD, SIIA Agree on Funding Model


The Financial Information Services Division has come to an agreement with its parent, the Software & Information Industry Association, over its funding model after months of discussion.

According to the agreement, the FISD will retain 70 percent of the revenues it generates, up from 63 percent, in FY 2006 and FY 2007. In addition, its executive committee now has formal authority to direct the spending of that money beyond the direct expenses of permanent staff.

FISD vice-president Tom Davin

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