Fraternity-Testvériség, 1964 (42. évfolyam, 1-12. szám)
1964-07-01 / 7. szám
FRATERNITY 11 Number of Claims Amount Paid Death Benefit .................................................. 1,422 $1,347,972.35 Sick Benefit .................................................... 938 56,350.88 Hospitalization .................................................. 845 98,074.83 Matured Certificates Paid ............................... 1,205 846,497.44 Surrenders ........................................................ 2,647 723,381.29 Loans on Certificates ................................... 1,297 427,238.53 8,354 I made 876 remittances from the Expense Fund. V. TRUST FUNDS We administer two trust funds: a) On one we keep death benefits of beneficiaries under age, and proceeds of beneficiaries who cannot be located. Now we are permitted to remit benefits to beneficiaries living behind the Iron Curtain. The balance of this fund was $17,085.61 on December 31, 1963. b) The other was set up for the unclaimed proceeds of matured certificates. There we had a balance of $48,370.00 at the end of the term. VI. BUDGET I I prepared with the cooperation of the Supreme Officers and the Business Counsellor the yearly budgets. They were furnished with a budget expense reconciliation every month. At the same time when we switched over to the one fund system, we adopted a completely new concept in calculating our expected and actual income. I wish to make detailed report on the nature of this change to the Committee examining my department, illustrated by actual budget-expense figures. VII. PAYROLL AND PAYROLL TAXES We handled the payroll and computed payroll taxes. Tax reports of different kinds were always filed on time with the U. S. Treasury and with five states, and we never received any derogatory remarks. The constantly growing number of full-time employees added a great deal to the burdens of this task. VIII. OTHER SERVICES Under this heading I wish to report certain services not enumerated in the By-Laws as being among the duties of the Controller. They were either assigned to me by the President, or I performed them simply on my own initiative to promote the Federation’s cause. a) For the last four years I acted as Chairman of the Employees’ Retirement Fund. I render an account of the Fund’s financial condition in the following statement:
