The unaudited financial statements for the Society have been posted on the Society's Web page and copies are attached to this report. The Society closed out 1999 with a (unaudited) operating loss of $22,534, less than the budgeted loss of $27,098. The highlights of the year include:

 

	The Society is in strong financial condition -- we closed out the year with net assets of $237,745.
	The New Zealand conference performed much more strongly than anticipated and actually closed out with a small (US$40) profit.
	Sales of Products (the beer game) dropped by 18% while sales of publications rose by 40%.
	The contract with the University at Albany was 17% over what was budgeted originally primarily due to the salary raises for Society staff.
	We are beginning to move more strongly into the are of electronic web presence, and we will need to invest in this area in the near future.
	Our assets did not perform well in a very healthy asset market because of our conservative investment stance.

Attachments

 

1. Unaudited Financial Reports for 1999:

    

   	1999 & 1998 Unaudited Profit and Loss Statements
   	1999 Unaudited Profit and Loss Statement by Cost Center
   	1999 & 1998 Unaudited Balance Sheets
   	1999 Unaudited Budgeted Versus Actual Spending

    

2. E-mail message to Administrative Committee on New Zealand Reconciliation