Treasurer's Report

Overall CPMT financial performance through October is in line with the 2000 CPMT budget, with year-to-date (YTD) surplus of $23K. YTD income from both Conferences and Transactions is less than was budgeted, but this income shortfall is offset by lower than budgeted expenditures by Committees, projects, and initiatives. Income from Conferences is credited when the various meetings close their books and report financial results. The very successful 50th ECTC has not yet reported. When it does, the Conferences income shortfall will largely be corrected. October YTD return on the IEEE Investment Fund in which CPMT reserves are invested was +2.12% compared to -1.37% for the Strategic Allocation Index used for performance comparison. CPMT financial reserves remain at just over $3 million.

The proposed $1.6 million CPMT budget for 2001 is pending final approval by the IEEE Board of Directors.

-- Merrill Palmer, CPMT Treasurer