Econometrica, Vol. 79, No. 1 (January, 2011), 319–325
THE ECONOMETRIC SOCIETY REPORTS REPORT OF THE TREASURER
SHANGHAI, CHINA AUGUST 16, 2010
1. 2009 ACCOUNTS
THE 2009 ACCOUNTS of the Econometric Society show a surplus of $245,284 (Table III, Line G). The surplus is slightly higher than the estimate of $235,000 at this time last year. Total revenues were $1,332,921 (Table II, Line D) and to- tal expenses were $1,087,637 (Table III, Line F). Both figures are also slightly higher than last year’s estimates. There was a significant negative deviation in membership and subscription revenues (Table II, Line A), which was more than compensated by positive deviations in investment income and other rev- enues (Table II, Lines B and C).
The net worth of the Society on 12/31/2009 went up to $1,354,865 (Table I, Line C). Consequently, the ratio of net worth to total expenses on 12/31/2009 was 125 percent, a figure which is at the lower end of the target range between 120 and 160 percent agreed by the Executive Committee in August 2007.
Table I shows the balance sheets of the Society for the years 2005–2009, dis- tinguishing between unrestricted assets and liabilities, whose difference gives the Society’s net worth, and five restricted accounts: The World Congress Fund, which is a purely bookkeeping entry that serves to smooth the expenses every five years on travel grants to the World Congress, the Jacob Marschak Fund, devoted to support the Marschak lectures at regional meetings outside Europe and North America, and the Far Eastern, Latin American, and Euro- pean Funds, which are held in custody for the convenience of the correspond- ing Regional Standing Committees. Tables IV and V show the movements in the World Congress Fund and the other restricted accounts for the years 2005– 2009.