Treasurer's Report

Financially, 1990 proved to be a difficult year for the Materials Research Society (MRS). As évident from the audited Balance Sheets (Table I) and Statements of Support, Revenue Expenses, and Changes in Fund Balance (Table II), expenses exceeded revenue by $164,522, leading to a corresponding decrease in the MRS fund balances. This resuit represents the culmination of a multi-year trend of expenses increasing more rapidly than revenue and suggests, therefore, that modifications of both the extent and pricing of the Society's services are required in order to restore adéquate revenue to cover the cost of thèse services.