Treasurer's Report

I would like to begin my first report as treasurer with thanks to Molly Sullivan, Ph.D., for all of her hard work over the past couple of years, and for taking the time to ensure a smooth transition when my term began in January.

NCSPP's financial position remains strong with revenues totaling $200,771.51, an increase of approximately 68% over last year's totals. Due to this remarkable and unanticipated increase, the organization was able to better absorb a significant underestimation of expenses based on the 1999-2000 budget. In general, the inaccuracy of our predictions with regard to both income and expenses appears to reflect the continued growth and development of the organization — welcome news.

Although not all of the committees that were budgeted to produce revenues this year did so, the various programs have continued to expand qualitatively, consistently providing the psychoanalytic community with a rich and diverse curriculum. In order to offset the costs of NCSPP programs that were not expected to generate income for the organization, such as our associate membership and interdisciplinary programs, and our highly regarded journal, fort da, the Board approved a partially planned liquidation of securities for a total of $22,769.44. Further, in preparation for the coming fiscal year and in an effort to improve on current bookkeeping practices, NCSPP's accounting records were recently reconciled with relevant financial statements and investment reports. Although closer scrutiny yielded an unfavorable discrepancy for the organization, we remain on sound financial footing with current reserves of $35,352.82. Of this amount, $29,584.55 is currently invested in a high-interest mutual fund. However, because this surplus is significantly less than in previous years, the NCSPP Board has some concerns about ongoing depletion of our reserves in order to augment net revenue. The Board is therefore giving consideration to various options that could reduce our expenditure