Fraternity-Testvériség, 1972 (50. évfolyam, 1-12. szám)

1972-07-01 / 7-9. szám

Congress in Denver, Colorado September 28, 1971, and will preside at the next Convention on October 1, 1972 in Dallas, Texas, thus representing our Federation among 100 fraternal societies represented at the meeting.

I consider the honor not only for myself, but for our Federation, as I serve in this capacity.

I also serve as the National Treasurer of the American Hungarian Federation, Inc. since 1968.

There were a few changes in my department since 1967. In 1969 Mr. Tibor Junghanz, who worked with me part-time, left our employ; in July, 1970 my bookkeeper, Mrs. Agnes Harsanyi, resigned and was replaced by Mrs. Iren Simon. Elizabeth Balazs has continued in my department faithfully, and is now in her 43rd year with the Federation. To her and to Mrs. Simon I extend my sincere appreciation and thanks for their faithful service.

We were saddened by the passing of two of our accountants, Mr. Max Blum in April, 1969 and Mr. Jerry Wizon in January, 1970.

To our present accountants and business counsellors, Mr. Bennet Koppelman and Mr. Alvin Eglow, I wish to extend my appreciation for their faithful service and their opinions in all financial matters presented to them.

To our legal counsellors, Alex B. Eger, Jr. in the United States and to Elmer J. Isaac in Canada, who is also our Chief Agent in Canada, I express my sincere appreciation and thanks for their handling of legal matters to protect the interest of the Federation.

I exend my thanks to my Fellow Officers, the Members of the Board of Directors and the employees in the Home Office and on the field for their fine cooperation at all times.

I submit my report to the Convention, and hope that upon examination, it meets with your approval and acceptance.

Fraternally yours,

PAUL ST. MIKLOSSY

Treasurer

June 26, 1972

CONTROLLER’S REPORT

for the years of

1968, 1969, 1970, 1971

(EXCERPTS)

Mr. President,

Distinguished Delegates of the Convention:

I render report on the activities of my office for the term of 1968-71 as prescribed by paragraph 46 of the by-laws.

I. ACCOUNTING

We kept separate set of books to record our operation in the U.S.A. and in Canada. Duplicates of our Canadian records were sent to the Canadian Chief Agent as required by the Insurance Department of Canada.

Auditors of the District of Columbia Insurance Department examined our books and records in the first half of 1969 and have found them in order.

FINAL BALANCE

DEBIT Dec. 31, 1967

Cash - Checking Account ...........$ 103,614.71

Bonds ............................................. 7,215,550.78

Mortgage Loans ........................... 6,433,522.63

Real Estate Owned ..................... 677,169.80

Certificate Loans ......................... 481,072.46

Shortage of Branches ................. 1,407.80

Petty Cash ..................................... 400.00

Loan to Branch 69 ....................... 386.60

Dec. 31, 1971 $ 196,297.35

9,440,045.53 5,994,530.37 763,797.42 591,427.26 5,214.61 400.00

Trust Fund ............................

Bethlen Home Contributions

Retirement Benefit Fund ....

State Income Tax Withheld .

Income Tax Withheld ..........

Interest on Loan Branch 69 .

114,241.45 129,584.62

1,178.21

139,432.00 185,836.85

317.33 353.33

23.45

32.79 —

Total .......................................$14,913,124.78 $16,991,712.54

The final balance is a combined statement for the U.S.A. and Canada.

COMPARATIVE REPORT ON NET GAINS BY FUND — U.S.A.

1968 1969 1970 1971

Consolidated

Fund ...............$400,443.21 $539,213.57 $556,741.42 $322,132.24

Sick Benefit

Fund ............... 2,245.64 3,130.15 5,329.93 5,848.45

Hospitalization

Fund ............... 21,863.77 21,168.24 15,381.32 15,494.31

Total ...........$424,552.62 $563,511.96 $577,452.67 $343,475.00

COMPARATIVE REPORT ON NET GAINS

BY FUND — CANADA 1968 1969 1970 1971

Consolidated

Fund .................$16,932.64 $31,722.59 $38,949.64 $38,341.40

Sick Benefit

Fund................... 299.26 (-276.44) 177.40 177.57

Hospitalization

Fund ............... (-271.67) 50.88 75.71 (-122.97)

Total .............$16,960.23 $31,497.03 $39,202.75 $38,396.00

Total

$14,913,124.78 $16,991,712.54

CREDIT

Consolidated Fund .......................$14,480,126.14

Sick Benefit Fund ....................... 130,112.52

Hospitalization Fund ................... 47,660.89

$16,424,602.85

143,595.84

107,739.05

II. COLLECTION OF DUES.

There are several standards of value in measuring the standing of an insurance association concerning dues income.

The first one is the relation of the ASSESSMENTS to the insurance in force. It is the acid test of the quality of the in24