Fraternity-Testvériség, 1974 (52. évfolyam, 1-12. szám)

1974-04-01 / 4-6. szám

CONTROLLER’S REPORT—continued III. STATISTICAL SERVICE A) FLUCTUATION OF MEMBERSHIP 12-31-69 23,888 509 7,532 200 31,420 709 32,129 12-31-70 23,748 501 7,259 192 31,007 693 31,700 12-31-71 23,326 537 6,993 177 30,319 714 31,033 12-31-72 23,064 538 6,551 156 29,615 694 30,309 12-31-73 22,784 495 6,151 151 28,935 646 29,581 A decrease of 728 during 1973 and 6,387 since December 31, 1959, when we reached our peak. B) FLUCTUATION OF CERTIFICATES Adult Juvenile Total Combined U.S.A. Canada U.S.A. Canada U.S.A. Canada USA & Can. 12-31-69 26,399 519 7,887 205 34,286 724 35,010 12-31-70 26,286 512 7,577 198 33,863 710 34,573 12-31-71 25,883 551 7,286 179 33,169 730 33,899 12-31-72 25,666 551 6,833 157 32,498 708 33,206 12-31-73 25,386 510 6,394 152 31,780 662 32,442 A decrease of 764 during 1973. Total decrease since December 31, 1959, is 6,052. C) FLUCTUATION OF INSURANCE IN FORCE 12-31-69 37,793,817 769,000 9,160,543 260,500 ‘1(6,954,360 1,029,500 47,983,860 12-31-70 39,117,160 740,229 9,199,922 247,750 48,273,082 987,979 49,261,061 12-31-71 39,353,122 885,229 9,147,406 233,250 48,500,528 1,118,479 49,619.007 12-31-72 40,004,347 908,636 8,835,401 200,035 48,839,748 1,108,671 49,948,419 12-31-73 40,336,363 862,386 8,538,788 191,500 48,875,151 1,053,886 49,929,037 A decrease of 19,382 during 1973, and an increase of 10,081,534 since 1959. IV. CLAIM SETTLEMENT 1972 1973 U.S.A. Canada U.S.A. Canada No. Amt. No. Amt. No Amt. No. Amt. Death 352 $432,092 6 $1,750 340 $406,343 17 $13,250 Sick Ben’t. 146 10,709 — — 95 6,878 — — Hosp’n. 108 23,542 2 420 98 21,028 — — Matured 570 524,887 — — 550 528,623 4 3,027 Surrender 578 285,297 6 1,338 519 257,542 10 2,482 Others 352 — 8 — 355 — 11 — We granted loan against 135 certificates in the USA. On December 1, 1973, we had outstanding loan in the USA in the amount of $570,269.77 and in Canada in the amount of $7,814.05. I issued 909 expense vouchers in the USA and 101 in Canada. Thanks to the much appreciated co-operation of our field-force and branch man­agers, we were able to settle properly submitted claims within 24 to 48 hours. Settle­ment of the sick benefit and hospitalization claims takes somewhat longer than usual due to the fact that our Medical Director lives out of town but we received very few complaints. In order to avoid unnecessary mailing expenses and inconveniences we send a paid-up confirmation to the Members instead of endorsing paid-up certificates in the Home Office. I also designed a new form on which members with endowment certificate are notified about the possible methods of settlement. We hope to increase the number of conversions through this procedure. V. TRUST FUND Unclaimed matured proceeds and death benefits which cannot be remitted to the legal recipients because of various reasons are kept on our Trust. Fund. Despite an­nouncements published in the official paper the balance significantly increased this year: U.S.A. Canada Total December 31, 1972 ................. $123,394.27 $5,007.84 $129,584.62 December 31, 1973 ................. 147,370.24 5,034.84 152,405.08 As you may remember State Welfare Departments consider these deposits abandoned properties after a certain specified number of years which must be forwarded to the State Treasuries under the escheat law. In order to utilize these funds for fraternal activities I recommend to in­clude a stipulation into the beneficiary section of our insurance contracts whereby the Member expressly author­izes the Federation to transfer benefits if he or the legally appointed benefi­ciary would not collect proceeds within a certain period of time. Before doing so, however, the opinion of the D. C. Insurance Commissioner should be re­quested. VI. BUDGET I submit a budget-expense reconcili­ation for the year 1973 combined with the proposed budget for the current year. The proposed budget was pre­pared with the co-operation of the Exe­cutive Committee. I forwarded a monthly budget-expense reconciliation to the National Officers and the Accountants. VII. PAYROLL, TAXES After deducting the various Federal and State taxes, net proceeds of the salaries were computed and figures for­warded to the Treasurer’s office. Taxes were submitted together with the pre­scribed return forms to the U.S. agen­cies and Canadian tax offices always on due time. We are under the obligation to file yearly report to the Internal Revenue Service and three States although as non-profit organization we are exempt from taxes. In Canada we did not pay taxes on our dues income until the end of 1973 but the federal government levied cor­poration taxes assessed on our invest­ment income. Starting on January 1, 1974, we are requested to pay 2% tax on our dues income also. The corpora­tion tax amounted to $14,201.42 in 1973. If the U.S. Government follows the same pattern, the greatest financial advantage of the fraternal societies will be eliminated. VIII. REINSURANCE Members carrying more than $15,000 insurance are reinsured with the North American Reassurance Company. I de­termined and reported reinsurable cer­tificates and subsequent changes. I give account on the cost of reinsurance as follows: 20

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