A packaged membrane is adapted to be sold, stored and transported to the site of use. The membrane includes a base mat and a flexible cement-based coating applied to the base mat. The coating includes a hydraulic component and water. The membrane is then rolled and packaged in a tubular package. Preferably, the coating also includes a water-soluble, film forming polymer. It is also preferred that the hydraulic component include at least 50% fly ash by weight.