Fraternity-Testvériség, 1977 (55. évfolyam, 1-4. szám)
1977-07-01 / 3. szám
CONTROLLER’S REPORT for the year 1976 (Excerpts) Mr. President, Distinguished Members of the Board: I respectfully submit my report for the year 1976 as requested by paragraph 46. of our by-laws: I. ACCOUNTING Transactions in the United States and in Canada were kept separately on the books and a monthly Trial Balance was forwarded to the Accountant. On this basis, he prepared the Annual Statements to the Insurance Departments of those States where the Federation is licensed to operate. The Insurance Department of the District of Columbia examined our books for the years 1973-74-75. Report on this examination will be presented to the Committees. The Insurance Department of Canada also conducted an examination on our books since started operation there. We did not yet receive their report. Deposit for Checking Acct. in Canada ............... 308,973.71 312,573.71 Due fr. Twinkle Inc. Personal Note ................... 4,000.00 4,000.00 Escrow - Koppelman and Eglow ......................... 3,730.13 712.56 Unlisted Assets ................... 13,134.09 13,134.09 Cash - Savings Account ..... 40,000.00 45,867.92 Short ....................................... 6,003.94 $18,678,681.45 $18,796,341.61 CREDIT Consolidated Fund ............. ..$17,542,337.00 $17,584,488.80 Sick Benefit Fund ............. 172,070.95 175,456.88 Hospitalization Fund ........... 152,291.76 167,066.41 Trust Fund ........................... 144,161.98 168,561.87 Retirement Benefit Fund .. 345,445.21 374,678.15 State Income Tax Withheld.. 266.75 381.70 Credit from Home Office ... 308,973.71 312,573.71 Reserve for Losses on Unlisted Assets ................ 13,134.09 13,134.09 $18,678,681.45 $18,796,341.61 II. COLLECTION OF DUES FINAL BALANCE (U.S.A. and Canada Combined) DEBIT 1975 1976 Cash - Checking Account .......$ 144,090.50 $ 100,702.18 Bonds ....................................... 11,353,764.18 12,297,911.43 Most of our branch managers performed this frustrating duty in a commendable manner. Monthly reports were submitted on time and there were few arrears. Prepaid dues exceeded dues in arrears again, indicating that our collection as a whole was good during the last year: Morteaee Loan ........................... 5,611,587.00 4,678,136.58 Prenaid dues .............. ......................$104,846.99 $101,828.72 Real Estate : Owned ............... 614,696.82 795,209.82 Arrears ... ...................... 473)94.55 5L586.18 Certificate Í ,oans , 584 305 02 541 689 38 Petty Cash 400.00 400.00 Difference ......................$ 57,752.44 $ 50,242.54 The following comparative tabulation shows adjusted life dues, Consideration for Supplementary Contracts, accident and health dues separately to give a better basis to analyse trends. It is a combined report for the U. S. A. and Canada. Adjusted Total Total Year Life Dues C.S.C. Life Dues A. & H. Dues Income 1972 $1,356,329.88 $ 99,083.23 $1,455,413.11 $40,976.81 $1,496,389.92 1973 1,351,038.21 87,964.05 1,439,828.41 36,868.30 1,476,696.71 1974 1,295,888.94 117,444.08 1,413,333.02 34,065.99 1,447,399.01 1975 1,278,599.84 123,661.08 1,402,260.92 29,377.97 1,431,638.89 1976 1,226,230.12 139,655.88 1,365,886.00 26,706.00 1,392,592.00 The following listing shows i the changes in our dues Branch handling expenses went up as a result of higher income per $1,000.00 insurance in force. percentage rate voted by the Convention. Year Dues Paying Total 1972 $35.08 $29.14 tiranch. Deductions Salary to Ur. 1973 35.32 28.82 Year U.S.A. Canada Office Clerks Total 1974 35.52 28.62 1975 $102,708.90 $3,700.32 $10,842.00 $117,251.22 1975 35.25 28.06 1976 34.54 27.13 1976 109,624.54 4,472.05 10,781.00 124,877.59 III. STATISTICAL SERVICE FLUCTUATION OF INSURANCE IN FORCE Adult Juvenile Total Combined U.S.A. Canada U.S.A. Canada U.S.A. Canada USA & Can. 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 12-31-74 41,103,151 1,006,508 8,245,091 218,500 49,348,242 1,225,008 50,573,250 12-31-75 41,494,828 1,144,547 8,181,877 192,512 49,676,705 1,337,059 51,013,764 12-31-76 41,570,188 1,320,797 8,228,912 205,512 49,799,100 1,526,309 51,325,409 An increase of 311,645 during 1976 and an increase of 11,477,906 since 1959. 11
