Treasurer’s Report
In 1999 CPMT had total revenue of $1,721K and total ex-penses of $899K, for a net operating surplus of over $822K. Total accumulated reserves now exceed $3 million. 1999 Inter-est income and increase in the value of investments was $780K, Transactions netted $331K; meetings and conferences and the sale of conference proceedings provided a surplus of $314K. $34K 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 sub-scriptions, conferences, and earnings on our financial reserves.

The most significant expense category other than conferences and publications was $260K for executive office, committee, and related expenses. This included $40K for packaging educa-tion fellowship support. Administrative expense was $39K. Publications had near budget revenue but better than budget net due to almost $50K less than budgeted expenses. Conferences exceeded their deliberately conservative budget net by a factor of three. And the stock market was very favorably higher for the year. Most committees and others spent less than budgeted, by a total of $174K.
The approved CPMT budget for calendar year 2000 includes expenditures of $1,230K and provides a surplus of $79K. It assumes $348K net from publications, $235K net from meetings and conferences, and $80K (interest only) from interest and in-vestment earnings. The 2000 budget continues most existing programs and services and includes the following initiatives:
completion of an archival CD-ROM set of all past Transactions, CPMT 50th anniversary commemorative activities and printing and distribution of a CPMT 50th anniversary history, a meeting of chapters representatives, increased Distinguished Lecturer funding, membership recruitment at international conferences and also among students and recent graduates, and to make
contacts with industry regarding support for CPMT membership and activity of employees.
The year 2001 budget is now being prepared. Recommenda-tions for projects or programs, or of efforts to discontinue, are invited to be submitted to CPMT officers during March 2000.
-- submitted by Merrill Palmer, CPMT Treasurer