Treasurer’s Report
The finalized CPMT budget for year 2001 implements the recently articulated CPMT Strategic Vision by funding new emphasis on Globalization efforts; Student Programs; Marketing of CPMT publications, conferences and name; Industry Programs; and development of web-based short courses. The budget provides for addition of a full-time administrator at IEEE headquarters to perform web-based tracking of Transactions papers and to also serve conferences, chapters and membership, and other programs. The successful Packaging Fellowship program is planned to be extended another year, contingent upon arrangement of necessary matching funds. Initial efforts to establish a Field Level IEEE Packaging Award are budgeted. Almost all other CPMT programs and activities will be maintained at approximately the year 2000 levels. Budgeted expenditures in 2001 total $1.642 million. Due to uncertainty regarding potential impact of Institute-level and Infrastructure deficits, interest and investment earnings are not included in the approved budget. Without interest and investment earnings the CPMT budget for 2001 has a net deficit of $41,000 compared to an accumulated financial reserve of over $3 million.

Year-to-date through July 2000, CPMT financial performance is within the approved budget. Actual expenditures of most committees and projects are somewhat below pro-rata budget. August YTD return on the IEEE Investment Fund was +6.18% compared to +3.25% for the Strategic Allocation Index used for performance comparison.
-- Merrill Palmer, CPMT Treasurer