Fraternity-Testvériség, 1977 (55. évfolyam, 1-4. szám)
1977-07-01 / 3. szám
TREASURER’S REPORT FOR 1976 Mr. President, Members of the Board of Directors, Fellow Officers: It is with a heavy heart and deep sorrow that I submit the Treasurer’s Report on behalf of our late Treasurer, Paul St. Miklossy. He will long be remembered by us as a true friend and a faithful fellow officer of the Federation. The report is for the year 1976 on the annual transactions and the condition of the Treasury, as required by the By-Laws. The report is based on the Ledger Assets of the Federation, which at December 31, 1976 were the following: STATEMENT C Ledger Assets, Dec. 31, 1976 1. CASH: On Check Accounts ............................................ On Savings Accounts............................................ 2. PETTY CASH ...................................................................... 3. BONDS ................................................................................... 4. LOANS Mortgages ............................................................ Certificates ............................................................ 5. REAL ESTATE .................................................................... 6. DUE FROM OTHERS: a. Personal note, R.E. XVI.................................................. b. Escrow, R.E. XIV........................................................... c. Shortage .......................................................................... TOTAL ................................................................................. *The difference of $3.43 is due to the required dropping LEDGER ASSETS United States Canada Book Value $ 33,365.21 $ 67,336.97 —0— 42,537.21 $ 143,239.39 400.00 —0— 400.00 11,899,733.00 398,175.00 12,297,911.43* 4,593,577.19 84,559.39 529,227.43 12,461.95 5,219,825.96 795,209.82-°795,209.82 4,000.00 712.56 5,359.55 644.39 10,716.50 $17,861,584.76* $605,714.91* $18,467,303.10 cents on the Annual Statement. The increase in our Ledger and Net Admitted Assets were: Ledger Assets Net Admitted Dec. 31, 1976 ................... .......$18,467,303.10 $18,328,296.44 Dec. 31, 1975.................... ....... 18,356,573.65 18,250,144.99 Increase in Assets ........... .......$ 110,729.45 $ 78,151.45 Comparison ASSETS with previous years United States of America Dec. 31, 1975 Dec. 31, 1976 Cash: Checking Account ....$ 67,092.04 $ 33,365.21 Bonds ............................... ..... 11,010,363.00 11,899,733.00 Mortgages ....................... ..... 5,508,769.56 4,593,577.19 Real Estate ..................... 614,696.82 795,209.82 Certificate Loans ........... 573,198.64 529,227.43 Petty Cash ........................ 400.00 400.00 Due from Others .............. 7,730.13 10,072.11 Total .......................... ....$17,782,250.19 $17,861,584.76* Canada Cash: Crecking Account ....$ 76,998.46 $ 67,336.97 Savings Account ... 40,000.00 42,537.21 Bonds ............................... 343,398.00 398,175.00 Mortgages ....................... 102,817.44 84,559.39 Certificate Loans ............ 11,106.38 12,461.95 Due from Others ........... 644.39 Total ............................. .....$ 574,320.28 $ 605,714.91 Gross Total ................ .....$18,356,573.65 $18,467,303.10* COMPARISON 1976 December 31 .... ...........................$18,467,303.10 1975 December 31 ... ............................ 18,356,573.65 Increase .................. ............................$ 110,729.45 *Difference of $3.43 is due to dropping of cents in Annual Statement. Shown as unlisted assets on the Annual Statement are the Street Improvement Bonds, which were charged off in 1941. We continue to keep them on file in case something is paid on them. We are expecting some income from the Hillside, Illinois bonds, which have been forwarded for collection. The Valuation Exhibit of the Ratio of Assets to Liabilities and the Ratio of Net Investment Income to Mean Assets 1970 to 1976 follows: VALUATION Ratio of Assets EXHIBIT Ratio of Net Investment to Liabilities Income to Mean Assets 1970 .. .........112.02% 1970 ...... ........4.59% 1971 .. ......... 113.36% 1971...... ........4.96% 1972 .. ......... 113.45% 1972 ...... ........4.91% 1973 .. ......... 113.29% 1973 ...... ........5.06% 1974 .. ......... 113.63% 1974 ...... ........5.35% 1975 .. .........112.46% 1975 ...... ........5.46% 1976 .. ......... 112.04% 1976 ...... ........5.53% The following is a summarized report on the Ledger Assets: I. CASH ON CHECK & SAVINGS ACCOUNTS: The Federation maintains all financial transactions on both the General Account and Transfer Fund Account with the National Bank of Washington, Washington, D.C. and in the Bank of Nova Scotia, Toronto, Ontario, Canada. The banks mail monthly statements on all transactions which correspond with the balance of the ledger on all income and disbursements. These are kept on file in the Treasurer’s office. a. GENERAL ACCOUNTS 1. United States of America Total receipts in 1976 .......................................$ 4,273,163.43 Balance forwarded from Dec. 31, 1975 ...........+ 67,092.04 Total receipts ...............................................$ 4,340,255.47 Total disbursements ..................................—4,306,890.26 Balance on Check Account, Dec. 31, 1976 .......$ 33,365.21 9
