TREASURER’S MARCH UPDATE
In 1998 CPMT had total revenue of $1,330K and total expenses of $893K, for a net operating surplus of over $437K. Total accumulated reserves now exceed $2 million. 1998 interest and investment income was $192K, periodicals netted $296K; meetings and conferences had a surplus of $257K; $32K was received as member dues. CPMT receives much less from membership dues and member subscriptions than the costs of member services and of Transactions provided to members. Most of the income and surplus comes from non-member
subscriptions, conferences, and earnings on our financial reserves. The most significant expense category was $244K for executive office, committee, and related expenses. This included a $40K packaging education fellowship. Administrative expense was $48K. Congratulations and thank you to the staff and volunteers who are so fiscally responsible in providing excellent services and value to Society members.
At their meeting 1/31/99 the CPMT Board of Governors determined to keep CPMT dues and periodicals charges to members unchanged in the year 2000.
--submitted by Merrill Palmer, Treasurer