Treasurer's Report (2007)
Econometrica, Vol. 76, No. 1 (January, 2008), 235–240
THE ECONOMETRIC SOCIETY ANNUAL REPORTS REPORT OF THE TREASURER
BUDAPEST, HUNGARY AUGUST 26–27, 2007
THE 2006 ACCOUNTS of the Econometric Society show a surplus of $295,739. This sur- plus almost doubles the estimate of $155,000 at this time last year (Table III, Line H) because revenues were $76,524 higher and expenses were $64,215 lower than expected. The higher revenues are in turn explained by a significant fall in membership and sub- scriptions that is more than compensated by the surge in investment income (Table II, Lines A and C). The lower expenses are explained by lower than expected publishing, editorial, and administrative expenses (Table III, Lines A–C). It should be noted that in last year’s report, the revenues corresponding to the new 3-year memberships were entirely allocated to 2005. Tables I–III now correct this error, so in comparison with the figures in last year’s report, the 2005 revenues, surplus, and net worth are reduced by
$95,244.
The net worth of the Society on 12/31/2006 reached $1,247,206 (Table I, Line C). Consequently, the ratio of net worth to total expenses on 12/31/2006 was 131 percent, a figure much higher than the target of 100 percent agreed by the Executive Committee in August 2006.