1978 Financial Report

Abstract

The balance sheet for December 31,1978 shows that the Union continues to be in a stable financial condition. However, this stability is vitally dependent on the continued good performance of the publications program. Looking ahead to what appears will be a period of economic, technological, and social uncertainty, one can not be comfortable with the slim reserve that the Union now has.The 1978 income statement shows a surplus of $353,000 which represents a significant addition to the reserve. Our staff is to be commended for its prudent management of our resources. However, this addition was earned largely through a shortfall of pages published and as of this writing it appears that much of the gain will be erased in 1979. JGR is expected to run 10% over its page budget and Water Resources Research almost 30% over budget.