Fraternity-Testvériség, 1978 (56. évfolyam, 1-4. szám)
1978-07-01 / 3. szám
REPORT of the EXECUTIVE VICE PRESIDENT for the year of 1977 Mr. President, Members of the Board: Until March 31, 1977, I served as Controller, afterwards as Executive Vice President of the Federation. Accordingly, I respectfully submit my report as required by para. 46 of the old and para. 45 of the new by-laws. I. ANNUAL STATEMENTS, STATE LICENSES Applications for renewal of licenses and annual statements were submitted by then Secretary Arpad George before March 1, 1977. Our licenses were renewed in 13 States and the Province of Ontario. I promptly answered questions raised by the State Insurance Departments to their satisfaction. II. ACCOUNTING I was and remained the principal Accounting Officer of the Federation. Transaction in the United States and in Canada are recorded separately on the books. We balanced our books monthly and forwarded trial balance to our Business Counsellor. On that basis, he prepared the annual statement without auditing our books and records. In other words, I am responsible for the book figures and the Counsellor for the proper and accurate compilation of data furnished by my office. III. ANALYSIS OF DUES INCOME The following comparative tabulation shows adjusted life dues, Consideration of Supplementary Contracts (C.S.C.), Accident and health dues separately to give a better basis to analyse trends. It is a combined report for the U.S.A. and Canada. Adjusted Total Total Year Life Dues C.S.C. Life Dues A. & H. Dues Income 1973 $1,351,038.21 $ 87,964.05 $1,439,828.41 $36,868.30 $1,476,696.71 1974 1,295,888.94 117,444.08 1,413,333.02 34,065.99 1,447,399.01 1975 1,278,599.84 123,661.08 1,402,260.92 29,377.97 1,431,638.89 1976 1,226,230.12 139,655.88 1,365,886.00 26,706.00 1,392,592.00 1977 1,224,201.08 139,980.92 1,364,182.00 24,470.00 1,388,652.00 Our dues continued to decline but the rate of decline significantly improved last year. Decrease in 1976 amounted to $39,046.00 while in 1977 a mere $4,410.00. The main reason why dues income still does not keep pace with the steadily increasing insurance in force is the constant growth of our non-premium paying insurance (paid-up and extended certificates). Certificates Ins. in Force Increase Non-premium Paying on 12-31-1973 8,074 $ 9,190,552 $730,458 Non-Premium Paying on 12-31-1974 8,421 9,829,812 639,260 Non-Premium Paying on 12-31-1975 8,802 10,397,469 567,657 Non-Premium Paying on 12-31-1976 9,159 11,015,259 617,790 Non-Premium Paying on 12-31-1977 9,363 11,386,890 371,649 The 371,649 increase in paid-up insurance in force is encouraging compared to the $617,790 experienced in 1976. IV. STATISTICAL SERVICE A) FLUCTATION OF MEMBERSHIP Adult Juvenile Total Combined U.S.A. Canada U.S.A. Canada U.S.A. Canada USA Si Can. 12-31-73 22,784 495 6,151 151 28,935 646 29,581 13-31-74 22,594 493 5,684 149 28,295 642 28,937 12-31-75 22,235 491 5,323 134 27,558 625 28,183 12-31-76 21,848 489 4,949 132 26,797 621 27,418 12-31-77 21,429 475 4,571 122 26,000 597 26,597 B) FLUCTUATION OF CERTIFICATES Adult Juvenile Total Combined U.S.A. Canada U.S.A. Canada U.S.A. Canada USA Si Can. 12-31-73 25,386 510 6,394 152 31,780 662 32,442 12-31-74 25,205 511 5,913 150 31,118 661 31,779 12-31-75 24,914 509 5,537 136 30,451 645 31,096 12-31-76 24,546 508 5,181 134 29,727 642 30,369 12-31-77 24,186 497 4,791 126 28,978 623 29,601 C) FLUCTATION OF INSURANCE IN FORCE 12-31-73 40,336,363 862,386 8,538,788 191,500 48,875,151 1,053,886 49,929,037 12-31-74 41,103,151 1,006,508 8,245,091 218,500 49,348,242 1,225,008 50,573,250 12-31-75 41,494,828 1,144,547 8,181,877 192,512 49,676,705 1,337,059 51,013,764 12-31-76 41,570,188 1,320,797 8,228,912 205,512 49,799,100 1,526,309 51,325,409 12-31-77 42,452,121 1,445,547 8,218,699 187,512 50,670,820 1,633,059 52,303,879 An increase of 978,470 during 1977 and an increase of 12,456,376 since 1959. 7
