THE ECONOMETRIC SOCIETY ANNUAL REPORTS, 1992 - REPORT OF THE TREASURER.

Presents the annual reports of the Econometric Society for 1992. In successive Treasurer's reports since 1980, the financial objective of the Society has been to stabilize the ratio of end-of-year net worth (NW) to total revenues (TR). The Society has made it NW/TR ratio the focus of its financial planning. Any tendency for the ratio to grow substantially above 50 percent has been a signal that resources are available to be transferred back to the membership. Details the following assets: cash, investments at cost, accounts receivable, back issue inventory, furniture and equipment, and other assets. Describes liabilities and fund balance. To end the string of financial losses experienced in 1991-1993, it will be necessary either to raise revenue or cut expenses. The solution is suggested by the fact that dollar library rates for "Econometrica" periodical have increased at only the United States rate of inflation since 1976. Since the real exchange rate of the dollar has declined by at least 20 period over the same time period, the real cost of the periodical to foreign libraries has declined substantially.