Treasurer’s Report
As previously reported, CPMT will have a slight deficit budget
in 1999 in order to support, expand, and revitalize Technical
Committee activity, increased membership development, attention
to emerging technologies and to geographic areas of emerging importance
to the Society, conversion of our publications to electronic form,
web site enhancements, and initial steps toward multimedia capability
and "push technology" information delivery. The 1999
budget now also includes funding to compile for the upcoming 50th
anniversary of the Society, a history of CPMT and our technologies.
The budgeted deficit is $30K, versus total reserves of approximately
$2,000K.
Now is the time to identify and propose initiatives for the year
2000. Formulation of 2000 CPMT budget will begin at the next Board
of Governors meeting on January 31, 1999.
Reserve funds that have been invested in IEEE’s long term
investment program incurred substantial loss of value during the
stock market downturn of August and September, but have recovered
nearly all of the decrease and are now net positive for the year.