Fraternity-Testvériség, 1992 (70. évfolyam, 1-4. szám)
1992-04-01 / 2. szám
Page 14 TESTVÉRISÉG Committee that a general 5% increase in salaries, effective April 1, 1992, for Officers and Home Office employees be adopted was amended upon the recommendation of Dir. László Lipoczky that the general increase be only 4%. The amendment to the motion was seconded by Dir. John K. Morey. Amendment to the motion carried with three abstentions (the National Officers). Upon the recommendation of the Financial Committee, it was resolved by the Board that the per diem fee be increased to $70 per day.- The Board also resolved that Medical and Hospitalization coverage for the Home Office employees in the future should not exceed its present level of expense.- It was moved by the Financial Committee and seconded by Dir. Reverend Medgyesi “that new applications be accepted with a three months’ premium payment, effective July 1, 1992". Motion carried. Motion was made by Dir. John K. Morey and seconded by V.P. Endre Csornán that the Board of Directors of the HRFA give authorization to the Executive Committee to proceed with a direct billing program for selected branches beginning July 1, 1992.- A motion to amend the original motion was made by Dir. Joseph Kovács and seconded by Dir. Clara V. Csikesz that “a proper remuneration be worked out by the Executive Committee for those branch managers whose direct billing goes in effect”. Motion carried.- It was moved by the Administrative Committee and seconded by V.P. Bishop Abraham that the fraternal activities in each District be coordinated by the respective Board Members. Motion carried.- Motion was made by Dir. Reverend Novak and seconded by V.P. Endre Csornán to change the minimum face value of new life insurance policies from the present one to: Age Whole Life at 80 0-65 $5,000 66-70 $3,000 Life Paid Up at 65 0-60 $5,000 20-Payment Life 0-65 $5,000 Motion carried. 66-70 $3,000- Motion was made by Dir. Elvira Petry and seconded by Dir. László Lipoczky, “that the mode of payment on new certificates be limited to quarterly, semi-annually or annually.” Motion carried. George Dózsa, V.P.-Secretary HUNGARIAN REFORMED FEDERATION OF AMERICA FINANCIAL REPORT - DECEMBER 31, 1991 Annual Statement ASSETS Bonds $17,182,306 Mortgage loans on real estate 2,866,896 Real estate, occupied by Society 1,029,423 Other real estate 4,814 Certificate loans and liens 599,112 Cash on hand and on deposit 785,080 Aggregate write-ins for invested assets 2,402 Investment income due and accrued 463,508 Premiums collected not yet remitted 33,554 Accident-health premiums due 64 TOTAL ASSETS $22,967,159 LIABILITIES Aggregate reserve for life certificates $13,094,099 Aggregate reserve for accident-health 86,703 Certificate-contract claims 47,337 Premiums received in advance 80,190 Commissions due to field workers 2,519 General expenses due and accrued 121,920 Taxes, licenses due 107 Unearned investment income 910 Amounts withheld as agent or trustee 59 Adjustment due to foreign exchange rates 152,610 Liabilities for employees benefits 1,034,755 Mandatory securities valuation reserve 238,839 Aggregated write-ins for liabilities 211,192 TOTAL LIABILITIES $15,071,240 UNASSIGNED FUND-SURPLUS 7,895,919 The certificate obligations of the Hungarian Reformed Federation of America as of December 31, 1991 have been valued in accordance with the provisions of the Insurance Law of Washington, D.C. The Federation is in good and sound financial position, able to meet all present and future obligations. William B. Puskas, Treasurer
