As of 2017, the museum's endowment as administered by the museum's new investment officer Lauren Meserve is US$3.1 billion which provides much of the income for operations while admissions account for only 13 percent of revenue as of fiscal 2016. The 2009–10 operating budget was $221 million. The museum admission price as of March 2018 is $25 for out-of-state and foreign visitors, while New York state residents can pay what they wish to enter. Although subject to re-assessment, a 1970 agreement between the museum and the city of New York requires New York state visitors to pay at least a nominal amount; a penny is acceptable. The Met's finance committee is led by Hamilton E. James of The Blackstone Group, who is also one of the board members at the Met. The Met is reported to have an Aaa credit rating, the highest such rating possible. This was last affirmed by Moody's in 2015.