Report of the Treasurer
for the Year ending June 30, 2007
GENERAL STATEMENT
In the fiscal year 2007 Sigma Xi’s financial activ-ities included continuing enhancement ofAmerican Scientist Online, improvements in theMember’s Only data base and upgrading infor-mational technology services. These expendi-tures are included within the operational bud-get. Total expenses were held below budget($6,078,043 budgeted vs. $5,732,636 actual), areduction of $345,407. Revenue returns wereless than budgeted ($4,356,479 budgeted vs.$4,291,562 actual), a decrease of $64,917. The market value draw was anticipated to be$1,742,956 or 10.85% of the endowment whilethe actual draw was limited to $1,155,600 or7.20% by restrictions.
The Building Fund Endowment continues to beused to amortize the mortgage and providebuilding operation support. In anticipatingfuture requirement the building and land wereincorporated into a Sigma Xi limited liabilitycorporation; to be known as Sigma Xi Center,LLC. This subsidiary will be used as collateralto acquire a more favorable mortgage.
Below are graphs depicting the values and per-centages of revenue and expenses by major cat-egory. The revenue presentation does notinclude the addition of monies drawn from theendowment. As noted above the actual marketvalue draw was limited by restrictions.Additional information is presented in the suc-ceeding tables.
The treasurer will provide additional remarks tothe Assembly of Delegate at the Annual Meetingand be available to respond to specific questions.
Richard L. Meyer
Treasurer
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