Fraternity-Testvériség, 1956 (34. évfolyam, 1-12. szám)

1956-04-01 / 4-5. szám

18

FRATERNITY

b. Adult Mortuary Fund.

c. The Surplus Fund.

d. The Sick Benefit Fund.

e. Hospitalization Fund.

f. The Juvenile Fund.

g. The Bethlen Home Fund.

h. The Cultural Fund.

The assets of these eight funds, according to the report, on January 31, 1956 was $7,302,379.49.

HANDLING OF THE ASSETS

The Treasurer’s office handles and keeps a record of our Federation’s properties. All receipts and disbursements are handled through the Federation’s checking account in the Liberty National Bank, Washington, D. C. Each item, whether receipt or disbursement, is verified and on file in the Treasurer’s office, and checks with the monthly statement sent out by the bank. The statement of assets are filed seperately and the profit on each investment is recorded in detail.

The Treasurer is responsible for handling and keeping detailed records of all of our Federation’s real estate and other properties, generally speaking, as well as all cash investments. He is assisted in his work by one full-time and one part-time employee.

SUPERVISION OF THE ASSETS

The assets and their administration are supervised by the Auditing Department of the Federation, the Finance Committee of the Supreme Council, the Finance Committee of the Convention, and, finally, by the Insurance Department of the District of Columbia.

Not desiring praise, but that this, too, might serve the good reputation of our Federation, let me state that the examiners of the Insurance Department of the District of Columbia found no fault even in the smallest item of receipts, bond investments, or disbursements handled in the Treasurer’s Office. These records are available.

THE OBLIGATIONS

Since its inception our Federation has always and in all things fulfilled that to which it had obligated itself and thus no judgment has ever been brought against it.

According to the provisions in our by-laws, if a member is in arrears for three months, he is automatically suspended from membership and a form of withdrawal equity is open to him.