Report of the Committee on Finances
for the Year ending June 30, 2001

The membership of the Committee on Finances for 2000-01 is:

John W. Prados, Chair
Peter D. Blair
S. Gaylen Bradley
Jaleh Daie
Marye Ann Fox
John H. Gibbons
W. Franklin Gilmore
Lawrence M. Kushner
Raymond P. Lutz
Richard L. Meyer

The Committee on Finances met on March 10, 2001, in Research Triangle Park, North Carolina, reviewed the performance of Sigma Xi's investments, and recommended a draft budget for FY 2002 to the Executive Committee. The purpose of the Research and Operations Fund is to provide annual support for research and Society operations. The purpose of the Building Fund is to finance construction of the new Sigma Xi Center building.

As of June 30, 2001, the balances in these funds were as follows:

Fund	Cost	Market Value
Research and Operations	$19,543,988	$16,902,974
Building (Money Market)	$436,846	$436,846
Total	$19,980,834	$17,339,820

Dividend/interest yields and total returns, based on cost, for these funds on June 30, 2001 were:

Fund	Dividend and Interest Yield, Percent	Total Return Including Realized Capital Gains, Percent
Research and Operations	1.83	1.10
Building	5.09	5.09

The Research and Operating Fund yields reflect the decision of the Board of Directors to favor long-term growth potential over current yields Due to continued market instability over the past year, the market value of all-Sigma Xi funds decreased by 15.97 percent from July 1, 2000 to June 30, 2001. However, the Committee is confident that, over time, investment performance will return to historical averages.

John W. Prados, Chair