My dear colleagues,

After hours of meetings with our accountant and my fellow officers, the decision was reluctantly made to increase dues for 1990, a decision that was approved by the Executive Council and the Meeting of Members at the Waldorf-Astoria meetings in New York City in December, 1989.

The increase was necessitated by a budgetary deficit of almost $200,000 in 1989 and a projected increase in costs in the same amount for 1990. These costs reflect only maintenance of the Association's activities and services and do not take into account the variety of important and vigorously supported new projects that have been proposed. There is no question that an association such as ours should have a stronger financial base to assure that annual expenses are met by annual income or that there is a capital fund available to cover deficits.

During the almost seven years of my tenure as treasurer, dues have increased from $280 per year for Active Members to $400, increases that have not been sufficient for us to keep up with inflation or new organizational undertakings. The projected dues increases—$200 for Active Members, $150 for Associate Members, and $100 for Affiliate Members—will, we hope, enable us to move forward with new projects without incurring a deficit for 1990.

As always, I am grateful for the continuing support of the membership of our Association.

Bernard L. Pacella, M.D.

Treasurer