Radio Science Bulletin 313 - June 2005 - URSI

URSI Accounts 2004In 2004, a year preceding a General Assembly, theURSI balance already reflects some costs related to theGeneral Assembly, such as the meeting of the CoordinatingCommittee. We also observe increased expenditures due toincreased activities of the Commissions. The totalexpenditures were about 74 kEuros higher than in 2003. Atthe same time, the income was small, about 167 kEuros lessthan in 2003, mainly because in 2004 the member committeespaid only 79% of their dues. This resulted in a deficit ofabout 63 kEuros. The Treasurer suggests to act upon Article9 of the URSI Status and consider those member committeeswhich do not pay their dues for more than 2 years as havingresigned from the URSI and give them a possibility to applyfor the Associate Membership of the Union.In spite of the fact that the URSI assets shrunkcompared to the previous year, partly due to the turmoil atthe stock market and unfavourable US dollar-Euro exchangerate, the market value of our investments has increased byabout 14 kEuros.Nevertheless the URSI finances are sound and we arewell prepared for GA 2005 in New Delhi.Andrzej W. WernikTreasurerBALANCE SHEET: 31 DECEMBER 2004ASSETS EURO EURODollarsMerrill Lynch WCMA 3,169.09Fortis 4,162.71Smith Barney Shearson 67.78_________7,399.58EurosBanque Degroof617.02Fortis 128,185.32_________128,802.34InvestmentsDemeter Sicav Shares 17,187.24Rorento Units 84,425.18Aqua Sicav 48,333.83Merrill-Lynch Low Duration (305 units) 2,350.66Massachusetts Investor Fund 209,219.10_________361,516.01684 Rorento units on behalf of van der Pol Fund 9,407.03_________370,923.04Short Term Deposito 50,832.14Petty Cash 366.75__________Total Assets 558,323.85Less CreditorsIUCAF 9,865.71ISES 9,889.28_________(19,754.99)Balthasar van der Pol Medal Fund (9,407.03)__________NET TOTAL OF URSI ASSETS 529,161.83TheRadio Science Bulletin No 313 (June, 2005) 5