1. Treasurer Report
Anant Sahai

2. Reserves and 2008 Real Surplus: 343K Market Loss: 1.2M
Total Market gain since 2002: ~0.4M
New Reserves: 1.8M
We are safe, but IEEE is below 50% ratio.

3. 2009 Budget Highlights $114K Budgeted Surplus
50K anticipated from conferences (ITW-V, ISIT, ITW-T)‏
So a built-in 64K Margin to absorb potential losses
$145K Initiative and Committee budget
$15K: Student committee
$10K: Outreach
$20K: IT Schools
$20K: Web and online (10K steady + 10K continued work)‏
$20K: Awards
$25K: BoG and officer meetings, IEEE meetings, etc.
Another $35K: budgeted for unspecified initiatives this year (like Web Phase II, distinguished lectures, extra to schools, etc.)‏

4. 2009 Implications We can spend money on new initiatives: upto 99K
$35K in budget: e.g. $25K for Dist. Lectures+ $10K schools
$64K of safety margin if conferences don't go negative
Conference losses: lower attendance?
ITWs in Europe & ISIT in Korea
Currency Fluctuations: Won has fallen about 33% against the dollar since crisis
Paper submissions are good so no warning signs for losses.
Will membership drop too if don't need reg. discount?
No ability to safely go net-negative this year.

5. Long Term Planning $227K Budgeted for 2009 from conferences in Xplore
$110K of that is our fair share based on ISITs and ITWs
The Transactions are the biggest source of money for us
Xplore: per-pdf-download: ~70c in 2007, ~54c in 2008.
Xplore: per-paper: ~$0.7K in 2008 (not per page)‏
Nonmember subscriptions: about $1K per sub
By 2012, the “unfair” conference $120K will be gone.
We will then have a structural budgetary hole of -55K
Must reinstate 10% surplus requirement on conferences
Improve Transactions revenue: more papers, more clicks
Might need to raise fees/prices