Treasurer of the Corporation

In FY2003, the Institute had a total operating revenue of $1,658.0 million. Total operating expenses were $1,686.6 million. The Institute's results of operations were ($28.5) million in FY2003 in comparison to $56.8 million in the prior year.

Total net assets on June 30, 2003, were $6,930.6 million, a decrease of 2.1 percent, or $151.6 million from the $7,082.2 million reported as of June 30, 2002. This decrease resulted from expenditures from the endowment and other financial assets exceeding the sum of investment return and new gifts retained.

In addition to the management of the investment program, the Office of the Treasurer provided assistance to the Institute's overall financial operations and planning in conjunction with the Office of the Executive Vice President.

Other activities of the Office of the Treasurer supported Institute real estate planning, community relations, and the Office of Resource Development.

Allan Bufferd

For more information, see the Report of the Treasurer at


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