Fraternity-Testvériség, 1987 (65. évfolyam, 1-4. szám)
1987-04-01 / 2. szám
Page 4 TESTVÉRISÉG EXCERPTS FROM THE TREASURER'S REPORT TO THE BOARD OF DIRECTORS AT THE SPRING MEETING 1986 Annual Financial Report ASSETS Bonds ................................................ $16,224,954 Mortgage Loans .................................. 2,241,618 Real Estate owned ............................ 1,126,714 Certificate Loans and liens .............. 883,953 Cash on hand and on deposit.......... 747,025 Premium collected not yet remitted................... 36,881 Accident and health premiums due . . 326 Investment Income due and accrued 402,976 KEY INDICATORS Unassigned Fund/Surplus ................ $ 6,243,446 Assets .................................................. 21,664,447 Ratio of assets to liabilities (Solvency ratio) .............................. 140.49 Mortality rate experience .................. 43.61 Benefits paid to members in 1986 .. 1,204,027 Dues Income ...................................... 891,612 Investment Income ............................ 1,452,112 General Expenses ................................ 1,075,533 Branch deduction .............................. 93,558 Membership certificates .................... 20,918 HRFA STUDENT AID and LOAN FUND 1986 Income and Disbursement in 1986 TOTAL ASSETS .............................. $21,664,447 LIABILITIES Reserves for life certificates .............. $13,801,793 Reserves for accidental and health certificates .................... 50,535 Certificates and contract claims .... 45,848 Accident and health claims .............. 349 Premiums received in advance.......... 107,221 Commissions due and accrued to field workers .............................. 4,761 General expenses due and accrued . . 78,926 Taxes, licenses and fees due and accrued ............................ 1,038 Unearned Investment Income .......... 635 Amounts withheld or retained by HRFA as agent or trustee .............. 141,432 Net adjustment in assets and liabilities due to foreign exchange rates ................................ 80,975 Liability for benefits for employees .. 779,865 Mandatory securities valuation reserve 327,623 TOTAL LIABILITIES .................... $15,421,001 NET WORTH (unassigned funds; surplus, Assets minus Liabilities) .. $ 6,243,446 Cents rounded up to nearest dollar. The certificate obligations of the Hungarian Reformed Federation of America as of December 31, 1986 have been issued in accordance with the provisions of the INSURANCE LAW of WASHINGTON, D.C. The Federation is in good and sound financial position, and able to meet all present and future obligations. Balance of checking account as per bank statement, as of Dec. 31, 1985 .... $12,035.87 Less outstanding check from 1985 ... 300.00 Balance as of December 31, 1985 .... $11,735.87 INCOME in 1986 Donations ........................ $6,860.00 Kantus reimbursement .... 8,536.00 Interest earned in 1986 .. 650.92 16,046.92 TOTAL $27,782.79 DISBURSEMENT in 1986 Aid to students ................ $6,900.00 Calvin Youth Camp ........ 1,500.00 Független Youth Camp .. 1,500.00 Kantus Loan ...................... 8,536.00 Canadian exchange diff. .. 160.00 Washington, DC fee .... 25.00 Bank service charge .......... 5.00 18,626.60 BALANCE as of December 31, 1986 $ 9,156.19 SAVINGS ACCOUNT OF THE HRFA Student Aid and Loan Fund 1. PERPETUAL Savings Certificate 65003683 .................. $32,279.93 2. PERPETUAL Money Market account 2041853 .......................... 10,238.71 3. CHEVY CHASE FSB 31-907099-9 .......................... 27,237.99 TOTAL ASSETS as of December 31, 1986 ................ $78,912.82 William Puskas
