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Report of the Treasurer

Donald J. Weir

The financial condition of the Society for American Archaeology is strong and well positioned despite the current economic conditions. I am pleased to report that the reserves equals 37.6 percent of our current one year operating budget. This fiscal year we should follow our long-term strategy by increasing the reserves with the ultimate goal of it equaling fifty percent of our yearly needs. Because of healthy membership levels and a strong meeting in Denver, we will have a allocatable 2002 surplus of approximately $74,500.00 subject to year end audits. Furthermore, the prudent investment plan recommended by the Investment and Finance Committee and approved by the Board several years ago has shown it wisdom. Our investments are holding steady with minimal losses.

The financial health of the Society for American Archaeology is a collective effort. We are where we are financially because of the foresight and hard work of past and present Society officers, professional staff and committees. Special thanks is given to outgoing President Kelly who had the vision to increase member services without breaking the bank. Without the support of the general membership none of this would have been possible. We look forward to a healthy and productive 2003.