Fraternity-Testvériség, 1968 (46. évfolyam, 1-12. szám)

1968-04-01 / 4. szám

ENGLISH SECTION:

TREASURER’S REPORT FOR 1967

Mr. President,

Members of the Supreme Council,

Fellow Officers:

It is a pleasure to give my report on the financial activities of our Federation in the year of 1967, although our Investments did not quite come up to our expectation, we have an increase of $405,306.62 in our assets, and our valuation exhibit shows an increase from $110.06 to $111.46. I am confident that with concentrated endeavor we can increase our valuation exhibit by placing higher-yeilding mortgages and bonds, and by increasing dues income, taking into consideration that the growth of all fraternal societies depends upon the effect put into it by the field force and management.

Our assets at the close of 1967 reached $14,913,124.78. Our claim is to surpass the fifteen million dollar mark within a few months in 1968.

In accordance with the By-Laws defining my duties as Treasurer, I submit the following report:

The financial transactions of the Federation are handled on a Checking Account in The National Bank of Washington, Washington, D. C. and on a General Account in the Bank of Nova Scotia, Toronto, Ontario, Canada.

The cash balance of the U. S. Account was $32,576.15 and on the Canadian Account $71,038.56, a total of $103,- 614.71 at December 31, 1967.

I.

STATEMENT OF CHECK ACCOUNTS DURING 1967 A. GENERAL ACCOUNTS

a. The National Bank of Washington, D. C.

“H.R.F.A.” Checking Account

STATEMENT December 31, 1967

Total Receipts, 1967 .............................................$3,462,330.14

Total Disbursements, 1967 ........................_............ 3,429,753.99

Balance, December 31, 1967 ..................................$ 32,576.15

BANK RECONCILEMENT, December 31, 1967

Cash “H.F.R.A.” Checking Account,

December 31, 1967 ..........................................$ 120,739.04

Outstanding Checks, December 31, 1967 ........... 88,162.89

Balance forwarded to January 1, 1968 ..........-...$ 32,576.15

STATEMENT December 31, 1967

Total Receipts, 1967 .............................................$ 198,564.80

Total Disbursements, 1967 .................................. 127,526.24

Balance, December 31, 1967 ..............................$ 71,038.56

BANK RECONCILEMENT, December 31, 1967

Cash “H.R.F.A.” Checking Account,

December 31, 1967 ..........................................$ 71,320.15

Outstanding Checks, December 31, 1967 ........... 281.59

Balance forwarded to January 1, 1968 ...........$ 71,038.56

B. The Federation also has a Transfer Fund Account at the National Bank of Washington and at the Bank of Nova Scotia. These accounts are used to cover the various vouchers for commissions, the salaries and expenses of field workers and for medical examination fees. There is no cash on the Transfer Fund Accounts on December 31, 1967 as balance to be forwarded.

n. SAVINGS DEPOSITS:

The Federation had three Savings Accounts In two banks: The Fidelity Union Trust Company of Newark, N. J. and in two branches of the Society National Bank of Cleveland, Ohio, which were closed in 1967.

STATEMENT OF BANK DEPOSITS December 31, 1967

I. CHECK ACCOUNTS:

a. The National Bank of Washington, Washington, D.C....$ 32,576.15

b. The Bank of Nova Scotia,

Toronto, Ont., Canada ....... 71,038.56

TOTAL.........................................$103,614.71 $103,614.71

n. PETTY CASH:

This fund takes care of Incidental expenses paid by

cash in the Home Office.

MORTGAGES:

In 1967 the Federation placed $629,000.00 In first mortgage loans in the United States in two churches, four residences and three commercial and industrial properties; and $100,000.00 in Canada in one church property.

We received $10,500.00 in placement fees, as shown on our Annual Statement.

On December 31, 1966 in the United States

in mortgages we had .....................................$6,364,168.47

Decrease in United States mortgages in 1967 __ -75,950.40

Balance of mortgages In the U.S. Dec. 31, 1967 _$6,288,218.07

On December 31, 1966 in Canada

in mortgages we had ......................................$ 85,705.96

Increase in Canadian mortgages in 1967 ......... +59,598.60

Balance of mortgages in Canada Dec. 31, 1967 ...$ 145,304.56

STATEMENT

United States Mortgage .........................................$6,288,218.07

Canadian Mortgages ............................................... 145,304.56

TOTAL.......................................................................$6,433,522.63

b. Certificate Loans:

These are kept on file by the Controller.

b. Certificate Loans*

Loan on Certificates of members, December 31, 1967:

United States ......................................................$480,722.46

Canada ............................................................ 300.00

TOTAL .................................................................$481,072.46

* The Office of the Controller keeps an itemized record of this item.

SUMMARY December 31, 1967

a. Mortgages ....................... ....$6,433,522.63

b. Certificate Loans and Liens ..... 481,072.46

TOTAL .............................................. $6,914,595.09

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