Swiss Franc Account:

balance 1996                                               153.727,54
IMU (Schedule A: Administration)                            11.000,00
IMU (Schedule B: Scientific Activities)                     22.000,00
interest                                                       173,83

total                                                      186.901,37

transfer charges                                                22,29
transfer to DKR Account                                     19.000,00
return to IMU1)                                              6.000,00
ICMI balance 1997                                          161.879,08

total                                                      186.901,37

Den Danske Bank exchange rate, ult. 1997: 1 CHF = 0,69 US$

Danish Kroner Account:

ICMI balance 1996                                            5.261,04
transfer from Swiss Francs account                          88.683,70
    (22.810,50, 18.655,20, 47.218,00)
transfer from USD account                                    1.640,40

total                                                       95.585,14

ICME-8 Grants Committee follow-up meeting                    1.175,00
EC meeting in Madrid, members' accommodation                12.298,82
EC meeting in Madrid, local expenses                         4.923,26
EC meeting in Madrid, members' travel expenses               9.613,77
EC meeting in Madrid, President's miscellaneous expenses     1.590,40
EC meeting in Madrid, Secretary's miscellaneous expenses       645,00
ICMI Study on Univ. Maths., IPC meeting in Worthing,        10.036,15
     members' accomodation etc.                             
ICMI Study on Univ. Maths., IPC meeting, members'            8.792,91
     travel expenses
typing of Bulletin 42 & 43                                   2.040,00
credit card charge                                             150,00
transfer charges                                               113,80
ICMI Balance 1997                                           44.206,03

total                                                       95.585,14

Den Danske Bank exchange rate, ult. 1997: 1 DKR = 0,15 US$

Sterling Account:

balance 1996                                                16.352,30
CUP royalties for studies                                       21,60
interest                                                       664,72

total                                                       17.038,62

ICMI Study on Univ. Maths., IPC meeting in Worthing,         1.311,00
     member's air fare
ICMI Study on Univ. Maths., IPC meeting in Worthing,           888,17
     members' accommodation etc. 
ICMI Study on Univ. Maths., IPC meeting in Worthing,            50,10
     chair's expenses
transfer charges                                                16,22
ICMI balance 1997                                           14.773,13

total                                                       17.038,62

Den Danske Bank exchange rate, ult. 1997: 1 GBP = 1,66 US$

US$ Account:

ICMI balance2) 1996                                         13.747,24
Solidarity Fund balance2) 1996                              33.655,84
ICMI interest, 29% of total (corresponding to                  413,58
     1997 balance share)
Solidarity Fund interest, 71% of total (corresponding        1.012,57
     to 1997 balance share)
Contribution to the Solidarity Fund, by the C.F.E.M.3)         846,30

total                                                       49.675,53

EC meeting in Madrid, members' air fares                     4.273,40
ICMI Study on History, IPC member's travel expenses            438,00
transfer to DKR account                                        242,97
transfer charges                                                19,14
Solidarity Fund balance 1997                                35.514,71
ICMI balance 1997                                            9.187,31
(account balance                                            44.702,02)

total                                                       49.675,53


  1. IMU generously contributed a grant of CHF 12.000 to support of ICME-8 held in Sevilla in 1996. Unfortunately, it turned out not to be possible to spend this sum according to the conditions set for the grant. However, IMU kindly agreed to grant half of the amount to the forthcoming ICMI Study on The Role of The History of Mathematics in the Teaching and Learning of Mathematics. Hence, the remaining sum was returned to IMU.

  2. As a consequence of the ICMI General Assembly and Executive Committee meetings held in Quebec, August 1992, it was decided to establish an ICMI Solidarity Fund based on private contributions. The Solidarity Fund was mounted to assist mathematics education and mathematics educators in less affluent countries. Its money can only be spent (by a committee chaired by Professor Jean-Pierre Kahane) to serve such purposes and is therefore not part of ICMI's general resources. However, the appearance of the Solidarity Fund on the ICMI accounts for 1997 is due to the wish to keep ICMI's number of different bank accounts low. The accounts exhibit the ICMI balances and the Solidarity Fund balances separately. As of 1996 the Solidarity Fund balances were all concentrated in the US Dollar Account.

  3. In 1997, the French National Sub-Commission of ICMI (C.F.E.M), generously made a donation of French Francs 5.000 to the Solidarity Fund.

  4. In addition to the amounts displayed directly in the accounts, considerable extra sums should appear but do not and cannot. In 1995 Roskilde University (the Secretary's home institution) has contributed a substantial support to ICMI's work (e.g. telephone and -fax, e-mail facilities, postage, all the printing and distribution costs of the Bulletin, plus secretarial help of various sorts). It is estimated that the total contribution of Roskilde University is equivalent about US$ 5.000. The ICMI Executive Committee expresses its gratitude for this generous support.

The Executive Committee's thanks also go to the institutions of its other members. These institutions, too, have given invisible support to ICMI's work in a variety of ways. For instance, in many cases these institutions have paid travel and other expenses related to participation in EC meetings and soforth.

Mogens Niss 26 January 1998