William Penn Life, 1974 (9. évfolyam, 1-4. szám)

1974-04-01 / 2. szám

statement AUDITING COMMITTEE'S REPORT WILLIAM PENN FRATERNAL ASSOCIATION SCHOLARSHIP FOUNDATION, INC. MARCH 31,1974 BALANCE AS OF DECEMBER 31, 1973 $64,323.55 INCOME: Donations $3,299.53 Bond Interest............... 1,463.13 Savings Account Interest 113.35 4,876.01 BALANCE AS OF MARCH 31, 1974...........................$69,199.56 ASSETS Bonds $58,434.95 Savings Account 10,336.39 Checking Account ...............................283.39 Accrued Interest Receivable 144.83 TOTAL ASSETS AS OF MARCH 31,1974 $69,199.56 DONATIONS (Jan. Feb.& Marc.) Branch 24, Chicago, lllionois $100.00 Branch 525, Los Angeles, Calif...............25.00 Branch 76, Philadelphia, Pa. 100.00 Branch 394, Weirton, West Virginia 15.00 Miss Theresia Ann Zsoldos 15.00 Branch 40, Martins Ferry, Ohio 100.00 Branch 150, Masontown, Ohio 100.00 Branch 352, Coraopolis, Pa....................25.00 Gaspar Papp............................................10.00 W.P.A. Annual....................................1,500.00 Branch 001, Bridgeport, Conn..............100.00 Branch 296, $1.00 Per Year, Per Member Club...................................60.00 IN MEMORY OF: HONORARY PRES. JOHN BENCZE: Mr. and Mrs. Albert J. Stelkovics.........$15.00 Louis A. Fodor ........................................15.00 László E. Kereszti....................................10.00 Gaspar Papp 10 00 Mr. and Mrs. Frank J. Wukovits 20.00 Mr. and Mrs. John P. Balia 15.00 Mr. and Mrs. Joseph Toma.....................20.00 Mr. and Mrs. Albert G. Kertesz...............25.00 Branch 22, Roebling, N.J........................15.00 Mr.and Mrs. Zoltán B. Emri ...................15.00 Mr. and Mrs. Gus G. Nagy ...................15.00 Mr. and Mrs. James Beganyi 10.00 MRS. KRISZTINA KARA Mr. and Mrs. James Beganyi 10.00 IN MEMORY OF ALL DECEASED OFFICERS AND MEMBERS: Mr. and Mrs. John Sabo 178.90 Branch 22, Roebling, N.J........................10.00 in Memory of: MRS. ROSE SCHWARTZKOPF MR. JOHN GABOR ANDREWR BALOGH Mr. and Mrs. James Beganyi 10.00 Mr & Mrs. Michael Hrabar 10.00 in Memory of: MARGARET PEJKA FATHER AUGUSTINE MEDVIGY REPORT OF THE NATIONAL AUDITING COMMITTEE TO: National President, Elmer Charles The National Auditing Committee met at the Home Office, Monday, March 18 to Friday, March 22, 1974. Committe Members present were: László E. Kereszti, Chairman Emma L. Beganyi, Secretary Louis A. Fodor Michael Hrabar Michael R. Kara Helen Nemeth On behalf of the National Board of Directors, John P. Balia, Vice President, welcomed the Committee and extended the invitation to take part in the ope­ning of their quarterly meeting. Louis A. Fodor extended the gree­tings from the Auditing Committee. Our audit covered the period from July 1, 1973 to December 31, 1973. As members of the Committee we certify that the following were examined: All disbursements for the six month period were thoroughly checked against the ledgers, and the requested bank verifications. The Premium Income Account, the Pension Plan and the Payroll Accounts were examined and verified. The Dividend, Sick Benefit and Disa­bility accounts were thoroughly checked. Branch 13. Trenton, N.J.........................40.00 in Memory of: JOHN HAGAR JOSEPH TAKACS JOSEPH RAHO LÁSZLÓ MIHALISCKU REV. ANDREW P. JACOBS: Gaspar Papp 10.00 Louis A. Fodor 15.00 Mr. and Mrs. Albert J. Stelkovics...........25.00 László E. Kereszti...................................20.00 Branch 56, Detroit, Mich.........................25.00 American Hungarian Szatmar County Association.................................25.00 Mr. and Mrs. John Horcsik......................10.00 Mr. and Mrs. Alex Koroknay and Family 10.00 Mr. and Mrs. Stephen A. Jurko and Fa­mily ..........................................................10.00 Mr. and Mrs. Frank J. Wukovits 20.00 Mr. and Mrs. John P. Balia.....................15.00 Mr. and Mrs. Stephen M. Lang................16.25 Mr. and Mrs. Joseph Toma 20.00 Mr. and Mrs. Frank J. Radvany 15.00 Mr. and Mrs. Albert G. Kertesz 25.00 Branch 22, Roebling, N.J........................15.00 Mr. and Mrs. Zoltán B. Emri 15.00 Mr. and Mrs. Gus G. Nagy 15.00 Mrs. Helen Nemeth 10.00 Mr. and Mrs. James Beganyi 10.00 MR. JOSEPH GALAJDA Branch 226. McKeesport, Pa..................15.00 The Mortgage Accounts as well as the loans on policies were examined. The committee went to the vault at Mellon Bank to check the new securities purchased in the six month period under audit. The Investment Committee under the leadership of National Presi­dent, Elmer Charles, National Secretary Albert Stelkovics and National Treasurer Julius Somogyi have made very profitable investments for the As­sociation. Branch Audit Reports were thoroughly checked and again as in our previous audits, the committee wishes to recommend that more care should be given to completing and returning the forms. From the reports audited, it was learned that $16,418.90 was disbursed by the various branches for fraternal, charitable and benevolent activities in 1973. The branches contributed $3,237.81 and the Home Office subsidized $4,806.25 towards the children’s annual Christmas parties. The minutes of the September and December Board Meetings, the Execu­tive Committee minutes, the President’s report and the Actuary report were all read. Income and disbursements on invest­ment accounts were all verified. The Scholarship Foundations Annual Statement was examined and compared to the 1972 statement shows that assets were increased from $39,810.00 to $64,323.55. This is a healthy growth and we all hope with the help of the branches it will continue. Before the close of audit the commit­tee met with National Secretary Albert Stelkovics and National Treasurer Julius Somogyi. The committee all visited National President, Elmer Charles who was hospitalized at the West Penn Hos­pital, Pittsburgh, Pa. Chairman László Kereszti on behalf of the Committee thanked the National Officers and the Home Office em­ployees for their kind cooperation ex­tended during their audit. Our examination was made in accord­ance with generally accepted auditing procedures as we considered necessary. Respectfully submitted, Emma L. Beganyi, Secretary László E. Kereszti, Chairman INSURANCE is a commodity which people feel they have too much of when they don’t need it, but never have enough of-when they do need it. 5

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