Fraternity-Testvériség, 1986 (64. évfolyam, 1-3. szám)
1986-04-01 / 2. szám
Page 4 TESTVÉRISÉG September 1986 meeting of the Board of Directors. e — That Director Endre Csornán be appointed to the Board of Managers of the Bethlen Home in the absence of the vice president-secretary in order to maintain the HRFA’s interest in this institution. f — that due to the resignation of the vice-president-secretary, his duties be divided between the offices of the president and treasurer for the duration of the interim period, g — that the three currently elected vice presidents shall be empowered to function as members of the Executive Committee, with all rights and obligations of said position, h — that a meeting for the field force who have met a $750.00 annualized premium, from January 1 to July 31, 1986, would be held in Ligonier, PA. i — that a field force committee from the Board of Directors be reinstated, j — that the history of the HRFA be published in English in the Anniversary year. k — that the question of dividends be deferred until an intensive study of the new undertakings, including the new home office and the 1980 CSO tables, have been determined and settled. 1 — that a 5% cost of living adjustment be granted to the national officers, home office employees and full-time district office employees, effective March 1, 1986. m — that the maximum amount of a mortgage loan shall not exceed $80,000 and the said loan should not exceed 65% of the property’s value, in accordance with our mortgage loan procedure. n — that donations to the Statue of Liberty Fund over the $10,000 plateau should no longer be matched by the Home Office. o — that in consultation with the Ebner Brothers, we proceed with the renovation (of the Home Office building) according to their suggested modifications. p — to express our sincere thanks to the three members of the Building Committee for their untiring efforts with regard to the New Home Office building. If there is any question in reference to any of the above resolutions, please feel free to contact the President’s office. EXCERPTS FROM THE TREASURER'S REPORT TO THE BOARD OF DIRECTORS AT THE SPRING MEETING 1985. ANNUAL FINANCIAL REPORT STATEMENT OF CONDITION - December 31, 1985 ASSETS Bonds ..................................................$17,013,618.00 Mortgage loans .................................. 1,871,808.00 Real Estate owned ........................... 925,929.00 Certificate Loans and liens ........... 905,789.00 Cash on hand and on deposit .... 429,731.00 Premiums collected not yet remitted ........................... 40,489.00 Accident and health premiums due 212.00 Investment Income due and accrued 419,508.00 TOTAL ASSETS $21,607,090.00 LIABILITIES Reserves for life certificates ............$14,021,816.00 Reserves for accidental and health certificates ......................... 54,693.00 Certificates and contract claims .. 26,731.00 Accident and health claims ........... 1,010.00 Premiums received in advance .... 134,894.00 Commissions due and accrued to field workers ........................... 4,168.00 General expenses due and accrued 46,603.00 Taxes, licenses and fees due and accrued .................................... 9,535.00 Unearned investment income .... 1,420.00 Amount withheld or retained by HRFA as agent or trustee.......... 140,105.00 Net adjustment in assets and liabilities due to foreign exchange rates . . 88,036.00 Liability for benefits for employees ................................ 740,724.00 Mandatory securities valuation reserve ........................... 327,152.00 TOTAL LIABILITIES $15,596,889.00 NET WORTH (Unassigned funds; surplus) Assets ...................$21,607,090.00 Liabilities 15,596,889.00 $ 6,010,200.00 Fractions rounded up to nearest dollars. The certificate obligations of the Hungarian Reformed Federation of America as of December 31, 1985 have been valued in accordance with
