Report of the Treasurer
for the Year ending June 30, 2006
GENERAL STATEMENT
In the fiscal year 2006 Sigma Xi’s financial activities was marked by notable accomplishments. Two significant project, American Scientist Online and data base conversion project, were moved from external funding to operational status. The overall expenses, however, were held in restraint and under budget ($5,582,000 budgeted vs. $5,450,882 actual). Although the revenue returns were less than budgeted ($5,581,150 budgeted vs. $5,415,186) tight fiscal control reduced the amount required from the Endowment as a market allowance. The market allowance draw as anticipated to be $1,142,000 or 6.92% of the endowment while actual draw was only $719,935 or 4.36% of the endowment. This improvement was the result of increased revenues via strong development activities and the generous support of present and past members. The wise modifications to our investment strategy resulted in excellent returns during an unstable market. Each quarter and throughout the year our investment rate of return exceeded benchmarks. Also, mortgage payments were reduced through a renegotiated instrument with favorable rates.
Below are tables and graphs depicting the values and percentages of revenue and expenses by major category. The revenue presentation does not include the addition of the monies from the endowment. As noted above the actual market value draw was $422,667 less than anticipated for FY2006.
The Treasurer will provide additional - remarks to the Assembly of Delegates at the annual meeting and be available to respond to specific questions during the Regional Assemblies.
Richard L. Meyer
Treasurer
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