Society's Total Assets as of 31 May 2009:
Cash accounts (Community Checking + Money Market Business): $782,895.43
Total CDs: $177,887.60
This report covers the period of 1 June 2008 – 31 May 2009, during which the position of SMBE Treasurer changed hands. Marta Wayne is gratefully acknowledged for her service in this capacity since 2003. Concomitant with this transition, and in light of global financial uncertainties, the bulk of the society's assets were moved from high-interest CD accounts to a more secure (albeit low-interest) business checking account.
The society remains in excellent financial health, in large part due to the continued success of Molecular Biology and Evolution. Overall, journal income increased slightly from 2007. Society membership is on the rise, with membership-only subscriptions increasing significantly from 255 in 2007 to 442 in 2008. Society membership + journal subscriptions rose slightly (468, up from 460 in 2007).
As in previous years, the society used its income to publish the journal and support its annual meeting, in 2008 held in Barcelona, Spain. This included providing graduate and postdoctoral travel awards, funding the Walter Fitch Prize Symposium (prize money for the winner and travel funds for 8 contestants), running the Undergraduate Diversity Mentoring Program (UDMP), supporting the travel / accommodation of Council members and providing travel incentives for Associate Editors of MBE.
| Expense Category | 6/1/08-5/31/09 |
| Interest Income | 13,086.63 |
| OUP Journal Revenue (MBE) | 435,908.00 |
| Society Fees Collected by OUP | 14,280.00 |
| Total Inflows | 463,274.63 |
| Bank Charges | 95.90 |
| Accounting | 1,625.00 |
| Corporation Fee | 40.00 |
| SMBE Council Travel | 29,840.42 |
| Fitch Prize | 1,500.00 |
| Student Travel (Fitch, grad, postdoc, UDMP) | 49,266.98 |
| MBE Associate Editors Travel Incentive | 14,250.00 |
| SMBE Website Maintenance | 0.00 |
| MBE Editorial Office Expenses | 69,731.09 |
| MBE Editor Expenses | 0.00 |
| Education | 2,000.00 |
| Postage | 82.43 |
| Total Outflows | 168,431.82 |
| Overall Total | 294,842.81 |