Econometrica, Vol. 77, No. 1 (January, 2009), 335–340
THE ECONOMETRIC SOCIETY REPORTS REPORT OF THE TREASURER
MILAN, ITALY AUGUST 26–27, 2008
THE 2007 ACCOUNTS of the Econometric Society show a surplus of $178,015, which represents a 39.8% decrease with respect to the record figure in 2006 (Table III, Line H). The 2007 surplus is lower than the estimate of $196,000 at this time last year. Although revenues were $42,225 higher than expected, expenses were $60,210 higher than expected. The higher revenues are mainly explained by the increase in investment income, with membership and sub- scriptions plus other revenues being roughly in line with the estimate at this time last year (Table II, Line C). The higher expenses are mainly explained by higher than expected increases in publishing and Executive Committee ex- penses (Table III, Lines A and D).
The net worth of the Society on 12/31/2007 reached $1,425,219 (Table I, Line C). Consequently, the ratio of net worth to total expenses on 12/31/2007 was 142 percent, a figure which is in the middle of the target range between 120 and 160 percent agreed by the Executive Committee in August 2007.