PROCEEDINGS May 15, 16, 17, 18, 2005 - Casualty Actuarial Society

788 REPORT OF THE VICE PRESIDENT—ADMINISTRATIONyear. In addition to the net gain from operations of $151,823,there was interest and dividend revenue of $155,411, an unrealizedgain of $109,210, and a realized loss of $2,936. Therewas also a total net increase of $145,461 in various research,prize, and scholarship accounts (including the CAS Trust) arisingfrom the difference between incoming funds and interest earnedless expenditures, and a favorable adjustment to the CAS pensionliability. These amounts are not reflected in the net revenuefrom operations. Total Members’ Equity (CAS Surplus plus nonsurplusaccounts) now stands at $4,155,268, an overall increaseof $558,970 over last year.For 2005—2006, the CAS Board of Directors has approved abudget of approximately $5.9 million. Members’ dues for nextyear will be $365, an increase of $10, and fees for the SubscriberProgram will increase $10 to $435. A $45 discount is availableto members and subscribers who elect to receive the Forum andDiscussion Paper Program in electronic format from the CASWeb Site.Respectfully submitted,Deborah M. RosenbergVice President—Administration