Fraternity-Testvériség, 1971 (49. évfolyam, 1-12. szám)
1971-04-01 / 4-6. szám
TREASURER’S REPORT FOR 1970 Mr. President, Members of the Board of Directors, Fellow Officers: In accordance with the By-Laws of the Federation in this seventy-fifth anniversary year of its existence it is a pleasure to make my annual report on all transactions and submit it to the Spring meeting of the Board of Directors, as follows: I. CHECK ACCOUNTS A. 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 banks mail monthly statements on all transactions, which correspond with the balance of the ledger of receipts and disbursements. These are kept on file in the Treasurer’s office, a. The National Bank of Washington, D. C. “H.R.F.A.” Checking Account STATEMENT December 31, 1970 Total receipts, 1970 ...................................................$3,588,908.82 Total disbursements, 1970 ......................................... 3,501,798.49 Balance, December 31, 1970 ...................................$ 87,110.33 BANK RECONCILEMENT, December 31, 1970 Cash “H.R.F.A.” Checking Account, December 31, 1970 ...........................................$ 129,977.55 Outstanding Checks, December 31, 1970 ............... 42,867.22 Balance forwarded to January 1, 1971 ...................$ 87,110.33 b. The Bank of Nova Scotia, Toronto, Ontario, Canada “H.R.F.A.” Canadian Office General Account STATEMENT December 31, 1970 Total receipts, 1970 ...................................................$ 115,343.03 Total disbursements, 1970 ......................................... 35,145.88 Balance, December 31, 1970 .....................................$ 80,197.15 BANK RECONCILEMENT, December 31, 1970 Cash “H.R.F.A.” Checking Account, December 31, 1970 ...............................................$ 80,207.65 Outstanding Checks, December 31, 1970 ............... 10.50 Balance forwarded to January 1, 1971 ...................$ 80,197.15 In our official publication, “Fraternity” together with the Controller, we publish a monthly statement of income and disbursements. The report of Income from Branches also appears in the publication. II. PETTY CASH This fund takes care of incidental expenses paid by cash in the Home Office. III. BONDS The Federation purchased: 650M United States bonds at ...................................$653,902.50 20M Canadian bonds at............................................... 20,075.00 670M total bonds purchased in 1970 at ...................$673,977.50 SUMMARY OF BONDS Bonds owned, December 31, 1969: Par Value Cost U. S. A................................................$8,239,250.00 $8,020,078.17 Canada .............................................. 101,000.00 93,643.75 Total ...................................................$8,340,250.00 $8,113,721.92 Bonds purchased in 1970: Par Value Cost U. S. A. $650,000.00 $653,902.50 Canada 20,000.00 20,075.00 Total ....$670,000.00 $673,977.50 670,000.00 673,977.50 TOTAL............................................ ...$9,010,250.00 $8,787,699.42 Bonds sold or matured ................. .. 288,000.00 301,097.23 Bonds owned, December 31, 1970 ., ...$8,722,250.00 $8,486,602.19 IV. LOANS a. Mortgages In the United States the Federation placed $691,481.83 in first mortgage loans — three churches, four residences and one commercial properties; in Canada no mortgages were placed in 1970. The following table is an analysis of the placed mortgages: United States Canada Balance, December 31, 1969 ......... New Mortgages in 1970 ................. ..$6,151,635.67 .. 691,418.83 $ 237,542.62 Total ................................................. Principal payments in 1970 ......... ..$6,843,054.50 .. 794,021.22 $ 237,542.62 19,012.00 Balance of mortgages, December 31, 1970 ................. ..$6,049,033.28 $ 218,530.62 STATEMENT United States Mortgages.............................................$6,049,033.28 Canadian Mortgages ................................................... 218,530.62 TOTAL .........................................................................$6,267,563.90 All matters pertaining to mortgage loans, the purchase and sale of bonds, and other matters, were presented and acted 17
