Treasurer’s Report
CPMT financial health continues to be excellent. Operating surplus for 1997 was $562K, primarily from Publications and Conferences. Society net worth March 31, 1998 was $2.22 Million, with almost $1 Million cash. At their meeting May 24 in Seattle the CPMT Board voted to transfer $600,000 from cash to long term investments.
Also, the BoG has approved 1998 expenditures that were not in this year's budget, for increased Membership thrust, Technical Committee Chairs' Workshops, increased conferences coordination, preparation of a CD-ROM of past Holm Conference Proceedings, and providing Continuing Education Units (CEUs) for ECTC Short Courses. In addition, the BoG tasked the Technical Vice President to develop plans for increased expenditures in 1999 to ensure that CPMT is leading critical emerging technical directions and tasked the Junior and Senior Past President and the Membership Development Chair to identify and pursue strategic vision for the Society.
Key parameters for the 1999 CPMT budget approved at the May BoG meeting included keeping CPMT member dues at $10; keeping Transactions A and Transactions C member subscription fees at $10 and $5, respectively; and reducing member price of Transactions B from $15 to $10 to reflect lower projected page count. -- Merrill Palmer, Treasurer