The Committee consisted of C.L. Terng, USA (Chairperson); A. Gonchar, Russia; O. Lehto, Finland; D. Nguyen, Vietnam; J.Siciak, Poland and J. Palis, IMU Secretary;
The Committee studied the financial report for the years 1989-1993 presented by the Secretary of the IMU, and examined the budget for the period 1995-1998 prepared by the Executive Committee.
The Committee recommends to the General Assembly the acceptance of the financial report for the years 1990-1993 and the Executive Committee budget for the 1995-1998 period.
The budget for 1995-1998 has been prepared on a basis of about 10% increase in the dues of the Union. The committee supports the proposal of this raise of the basic unit dues to 1200 Swiss Francs. The increase is justified in view of the projected inflation for the next four years.
It is to be pointed out that the IMU can operate with notable efficiency based on such a limit budget only because it gets institutional support. The most important contribution is made by IMPA to the Secretary, Prof. Jacob Palis.
In addition, several professional societies made generous contributions to the Special Development Fund during the past four years. This allowed IMU to support many more young mathematicians from developing countries to participate in the ICM 94 and to substantially increase the support to the important activities of Commission on Development and Exchange.
Finally, the Committee expresses its thanks to the Executive Committee and in particular to the Secretary, Prof. Jacob Palis, for the preparation of the clearly written financial reports and proposed budget.