Message from the Treasurer
6-month fiscal year puts us on track
The shift of SICB's fiscal year to July 1 - June 30 has taken place. This created the somewhat awkward circumstance of closing out the first 6 months of 2006 as a fiscal 'year', to enable fiscal 2007 to start July 1, 2006. At the annual meeting in Jan 2007, the Executive Committee will be asked to approve a budget for Jan 1- June 30, 2007, to be added to the existing July 1-Dec 31, 2006 budget that was approved in January 2006. The Committee also will vote on the fiscal 2008 budget, which will run from July 1, 2007 to June 30, 2008. This means that the budget for the 2008 annual meeting in San Antonio will have been approved at the previous annual meeting. Henceforth, the budget will be in place in advance of annual meetings.
Society's managed accounts continue to do well
The end of the 3rd quarter of 2006 saw our mutual fund account having increased 35% since inception in April 2004. The REIT investment has an unrealized capital gain of 58%, for an overall average increase in our portfolio of 37%. Over the same interval, the S&P has increased 17%.
New co-pay for students receiving meeting support helps out
The $75 co-pay for students receiving complementary housing at annual meetings generated about $19,000 in Orlando. This is a significant contribution toward the approximately $80,000 per year that SICB spends in support of student research and assistance in attending the meeting.
Concern continues about funding Society symposia
The continued restriction of funding of Society symposia through NSF is great cause for concern. From a high of approximately $75,000 in NSF support for the meeting in New Orleans in 2004, the level decreased to about $20,000 in San Diego, and $18,000 in Orlando. The Development Committee and others are diligently seeking other sources of revenue to fund future symposia, with the expectation that NSF may cease such funding altogether.
Do your part
The Dues Renewal web site has options for contributions to several of the financial components of the Society. Any money anyone contributes to any activity frees up part of that account that can be applied elsewhere in the budget. Electing Life Membership also is an excellent way to help the Society's financial position.