THE ECONOMETRIC SOCIETY ANNUAL REPORTS, 1995 REPORT OF THE TREASURER.

The secretary of the Econometric Society (ES) reports on the expenditures and finances of the society in 1995. During the period 1991 to 1992, ES experienced substantial financial losses that were largely intentional as a result of several explicit policies. Since 1982, the Society has set aside each year a contribution to its World Congress travel fund. ES balance sheets showed data on assets, liabilities and fund balance, and contributions to the Jacob Marschak Fund and the World Congress Fund. The article also provides a summary of the behavior of revenues and expenditures over a longer period.