- Email: [email protected]
Report of the Treasurer
European Economic Review 46 (2002) 944}949
Report of the Treasurer to the Executive Committee of the European Economic Association for the year 2000 Lausanne, August 2001 The EEA accounts for 2000 show a loss of ` 37 065 due to several special reasons: (1) The cost of the new project &&Ranking Economic Departments'' of ` 43 435. (2) The cost of development of software for congresses of ` 29 613 (including other Programme Committee costs). (3) The Bolzano Congress loss of ` 30 378, despite a grant of ` 40 000 from the Free University of Bolzano. A special factor was the VAT bill of over ` 21 000. (4) The reduction of membership fees from ` 158 590 in 1999 to ` 83 816 in 2000. This big swing is due to a combination of negative factors. First, membership dropped from 1 846 to 1 429, a decline of 417. Of that decline 160 are due to the fact that fewer new memberships were signed up in Bolzano, as it was a single event, without the Econometric Society. The remaining 257 did sign up in Bolzano, but fees were not collected due to a communications problem with the local organisers. The latter thought they only had to collect the congress fees and not the membership fees. A total loss of ` 17 525 resulted from this communication problem: 207 joining members at ` 75 and 50 students at ` 40 obtained a &&free ride''. (The Free University of Bolzano increased its grant to compensate for this loss.) Second, memberships for the year 2000 for the amount of ` 16 556 were invoiced and payments received in 1999. This arti"cially in#ated receipts in 1999 and reduced those for 2000 (explaining a ` 33 112 di!erence). If the advance membership campaign had been repeated in 2000, some PII: S 0 0 1 4 - 2 9 2 1 ( 0 2 ) 0 0 1 7 4 - 5
Report of the Treasurer / European Economic Review 46 (2002) 944}949
945
compensation would have steadied the membership receipts, but this was not the case. Only ` 1425 of 1999 subscriptions were paid late in 2000 and augmented receipts. (5) Secretariat costs stabilised in 2000. (6) In view of large excess pages published, Elsevier owed us a net amount of ` 14 687. For Blackwell, only a claim for our general support of ` 5 000 was received. For safety, and more in line with previous years, a contingency liability of ` 20 000 was included (totalling a liability of ` 25 000 to Blackwell). (7) The reserves are still kept on bank accounts. The stock market correction that started in the second half of 2000 made it advisable not to execute the decision to invest part of reserves in stocks.
946
Report of the Treasurer / European Economic Review 46 (2002) 944}949 Table 1 European Economic Association Consolidated Assets and Liabilities on 31 December 2000
Assets Bonn bank accounts Secretariat bank accounts Claim Berlin / Toulouse Claim Santiago Checking accounts Time deposits Claim on institutional members Claim on Elsevier TOTAL
1998
1999
348 336
239 717.31
91 658 69 794
300 318.00 85 793.70 41 750.00
2000
13 474 614 940 628 414 5 000 14 687 648 101
509 788
667 579.00
5 586 18 082
10 259.06 27 613.00
23 668
37 872.06
486 120
629 707
592 723 (36 984)
53 495
56 810
53 223
432 625
572 897
539 500 (33 397)
Liabilities Elsevier Blackwell Bolzano TOTAL Reserves (reduction 2000}1999) Liabilities for 3-year subscriptions Net reserves (Reduction in net reserves)
25 000 30 378 55 378
Report of the Treasurer / European Economic Review 46 (2002) 944}949
947
Table 2 European Economic Association Expenditures and Revenues 2000 I. Ordinary Business Expenditures Publications EER Economic Policy Executive Committee Institutional members' lunch Secretariat Treasurer (DHL) Software for congresses Ranking economic departments
1998 21 529 18 082 3 745
1999 15 867 24 529 8 017
2000
48 379 207
61 220
25 000 9 531 1 776 61 186
}}}}}}}} 91 943
}}}}}}}}} 109 633
29 613 43 435 }}}}}}}}} 170 541
106 983 20 107 27 147
123 117 27 710 43 136
3 422 }}}}}}}} 157 653 65 710 :::::
4 302 }}}}}}}} 198 265 88 632 :::::
Revenues Member fees Berlin/Santiago new members Institutional members Elsevier Elsevier/Etiquettes Surplus/(loss)
83 816 42 569 14 686 1 500 }}}}}}}} 142 571 (27 970) :::::
948
Report of the Treasurer / European Economic Review 46 (2002) 944}949
II. Congress, Summer Schools Congress Expenditures Programme Committee Student grants Lunch institutional members Advance Cepremap Organisation (Bolzano)
Revenues Revenues Toulouse/Santiago Berlin 1998 (claim) minus tax contingency (30%) Bolzano registration fees Bolzano sponsoring
Surplus/(loss)
1998 8 058 8 012
1999
2000
9 170 7 200 547
11 071
4 466 }}}}}}} 20 536
}}}}}}} 16 917
16 705 70 687 !21 000
23 678
206 951 }}}}}}}} 218 022
136 282 51 362 }}}}}}} 187 644
}}}}}}} 66 392
}}}}}}} 23 678
45 856
6 761
(30 378)
22 365
22 362
17 867 }}}}}}} (4 498)
26 400 }}}}}} 4 038
Summer School Expenditures Toulouse 99/Barcelona Revenues EC Summer School support Surplus/(Loss) III. Interest on Bank Accounts Bonn/Louvain Summary: Ordinary business Berlin/Santiago/Bolzano Summer school Interest Unaccounted Re-evaluation of the claim on Berlin Overall surplus/(loss) (Reduction in reserves) Unaccounted discrepancy
7 138 65 710 45 856 7 138
}}}}}}}} 118 704 :::::
6 640 88 632 6 761 !4 498 6 640 9 946 36 106 }}}}}}}} 143 587 :::::
17 245 !27 970 !30 378 4 038 17 245
}}}}}}}}} (37 065) ::::: (36 984) 81
Report of the Treasurer / European Economic Review 46 (2002) 944}949
ADDENDUM 1
European Economic Association Subscriptions for 2000
No.
Net Price
Receipts
Liabilities
A. 1 year subscriptions Regular 1 year Special rates Students: ! before 1.4 ! after 1.4 Total 1 year Economic Policy (EP)
641 2
75
48 075 56
70 18 731 203
18 40
1 260 720 50 111 5 075
211 94 4 1 233 102 3 1 237 96 698 1 429 500
210 75 105 38 210 75 105 75 210 75
25
B. 3 year subscriptions Expiry 2002 EP Expiry 2002 (1/2 price) EP Expiry 2001 EP Expiry 2001 (1/2 price) EP Expiry 2000 EP Total 3-years Grand total EER Grand total EP
* minus the discount of ` 231 on 3 subscriptions
43 842* 7 050 420 38
29 228* 4 700 280 25 16 310 2 550 105 25
94 373 12 163
45 923 7 300
949
Report of the Treasurer to the Executive Committee of the European Economic Association for the year 2000 Lausanne, August 2001 The EEA accounts for 2000 show a loss of ` 37 065 due to several special reasons: (1) The cost of the new project &&Ranking Economic Departments'' of ` 43 435. (2) The cost of development of software for congresses of ` 29 613 (including other Programme Committee costs). (3) The Bolzano Congress loss of ` 30 378, despite a grant of ` 40 000 from the Free University of Bolzano. A special factor was the VAT bill of over ` 21 000. (4) The reduction of membership fees from ` 158 590 in 1999 to ` 83 816 in 2000. This big swing is due to a combination of negative factors. First, membership dropped from 1 846 to 1 429, a decline of 417. Of that decline 160 are due to the fact that fewer new memberships were signed up in Bolzano, as it was a single event, without the Econometric Society. The remaining 257 did sign up in Bolzano, but fees were not collected due to a communications problem with the local organisers. The latter thought they only had to collect the congress fees and not the membership fees. A total loss of ` 17 525 resulted from this communication problem: 207 joining members at ` 75 and 50 students at ` 40 obtained a &&free ride''. (The Free University of Bolzano increased its grant to compensate for this loss.) Second, memberships for the year 2000 for the amount of ` 16 556 were invoiced and payments received in 1999. This arti"cially in#ated receipts in 1999 and reduced those for 2000 (explaining a ` 33 112 di!erence). If the advance membership campaign had been repeated in 2000, some PII: S 0 0 1 4 - 2 9 2 1 ( 0 2 ) 0 0 1 7 4 - 5
Report of the Treasurer / European Economic Review 46 (2002) 944}949
945
compensation would have steadied the membership receipts, but this was not the case. Only ` 1425 of 1999 subscriptions were paid late in 2000 and augmented receipts. (5) Secretariat costs stabilised in 2000. (6) In view of large excess pages published, Elsevier owed us a net amount of ` 14 687. For Blackwell, only a claim for our general support of ` 5 000 was received. For safety, and more in line with previous years, a contingency liability of ` 20 000 was included (totalling a liability of ` 25 000 to Blackwell). (7) The reserves are still kept on bank accounts. The stock market correction that started in the second half of 2000 made it advisable not to execute the decision to invest part of reserves in stocks.
946
Report of the Treasurer / European Economic Review 46 (2002) 944}949 Table 1 European Economic Association Consolidated Assets and Liabilities on 31 December 2000
Assets Bonn bank accounts Secretariat bank accounts Claim Berlin / Toulouse Claim Santiago Checking accounts Time deposits Claim on institutional members Claim on Elsevier TOTAL
1998
1999
348 336
239 717.31
91 658 69 794
300 318.00 85 793.70 41 750.00
2000
13 474 614 940 628 414 5 000 14 687 648 101
509 788
667 579.00
5 586 18 082
10 259.06 27 613.00
23 668
37 872.06
486 120
629 707
592 723 (36 984)
53 495
56 810
53 223
432 625
572 897
539 500 (33 397)
Liabilities Elsevier Blackwell Bolzano TOTAL Reserves (reduction 2000}1999) Liabilities for 3-year subscriptions Net reserves (Reduction in net reserves)
25 000 30 378 55 378
Report of the Treasurer / European Economic Review 46 (2002) 944}949
947
Table 2 European Economic Association Expenditures and Revenues 2000 I. Ordinary Business Expenditures Publications EER Economic Policy Executive Committee Institutional members' lunch Secretariat Treasurer (DHL) Software for congresses Ranking economic departments
1998 21 529 18 082 3 745
1999 15 867 24 529 8 017
2000
48 379 207
61 220
25 000 9 531 1 776 61 186
}}}}}}}} 91 943
}}}}}}}}} 109 633
29 613 43 435 }}}}}}}}} 170 541
106 983 20 107 27 147
123 117 27 710 43 136
3 422 }}}}}}}} 157 653 65 710 :::::
4 302 }}}}}}}} 198 265 88 632 :::::
Revenues Member fees Berlin/Santiago new members Institutional members Elsevier Elsevier/Etiquettes Surplus/(loss)
83 816 42 569 14 686 1 500 }}}}}}}} 142 571 (27 970) :::::
948
Report of the Treasurer / European Economic Review 46 (2002) 944}949
II. Congress, Summer Schools Congress Expenditures Programme Committee Student grants Lunch institutional members Advance Cepremap Organisation (Bolzano)
Revenues Revenues Toulouse/Santiago Berlin 1998 (claim) minus tax contingency (30%) Bolzano registration fees Bolzano sponsoring
Surplus/(loss)
1998 8 058 8 012
1999
2000
9 170 7 200 547
11 071
4 466 }}}}}}} 20 536
}}}}}}} 16 917
16 705 70 687 !21 000
23 678
206 951 }}}}}}}} 218 022
136 282 51 362 }}}}}}} 187 644
}}}}}}} 66 392
}}}}}}} 23 678
45 856
6 761
(30 378)
22 365
22 362
17 867 }}}}}}} (4 498)
26 400 }}}}}} 4 038
Summer School Expenditures Toulouse 99/Barcelona Revenues EC Summer School support Surplus/(Loss) III. Interest on Bank Accounts Bonn/Louvain Summary: Ordinary business Berlin/Santiago/Bolzano Summer school Interest Unaccounted Re-evaluation of the claim on Berlin Overall surplus/(loss) (Reduction in reserves) Unaccounted discrepancy
7 138 65 710 45 856 7 138
}}}}}}}} 118 704 :::::
6 640 88 632 6 761 !4 498 6 640 9 946 36 106 }}}}}}}} 143 587 :::::
17 245 !27 970 !30 378 4 038 17 245
}}}}}}}}} (37 065) ::::: (36 984) 81
Report of the Treasurer / European Economic Review 46 (2002) 944}949
ADDENDUM 1
European Economic Association Subscriptions for 2000
No.
Net Price
Receipts
Liabilities
A. 1 year subscriptions Regular 1 year Special rates Students: ! before 1.4 ! after 1.4 Total 1 year Economic Policy (EP)
641 2
75
48 075 56
70 18 731 203
18 40
1 260 720 50 111 5 075
211 94 4 1 233 102 3 1 237 96 698 1 429 500
210 75 105 38 210 75 105 75 210 75
25
B. 3 year subscriptions Expiry 2002 EP Expiry 2002 (1/2 price) EP Expiry 2001 EP Expiry 2001 (1/2 price) EP Expiry 2000 EP Total 3-years Grand total EER Grand total EP
* minus the discount of ` 231 on 3 subscriptions
43 842* 7 050 420 38
29 228* 4 700 280 25 16 310 2 550 105 25
94 373 12 163
45 923 7 300
949