Fraternity-Testvériség, 1982 (60. évfolyam, 1-4. szám)
1982-04-01 / 2. szám
TREASURER’S REPORT FOR 1981 Mr. President, Members of the Board of Directors, Fellow Officers: I herewith submit to the Board of Directors my Annual Report of the financial analysis of the Hungarian Reformed Federation of America, which is in accordance with regulations set forth in our By-Laws. The data contains the transactions and changes that occurred during the year 1981. My report is based on the Ledger Assets of the Federation as of December 31, 1981. STATEMENT OF LEDGER ASSETS Ledger Assets, Dec. 31, 1981 United Stales Canada Book Value 1. Cash: On Check Accounts........................................ $ 175,377.00 $ 8,778.00 On Savings Accounts...................................... —0— 126,206.00 C.D.s ............................................................... 2,741,783.00 46,927.00 Columbia Federal............................................ 144,305.00 —0— S 3,243,376.00 2. Petty Cash................................................................... 362.00 —0— 362.00 3. Bonds.......................................................................... 13,107,346.00 769,927.00 13,877,273.00 4. Loans: Mortgages..................................................... 2,673,274.00 13,105.00 2,686,379.00 Certificates..................................................... 745,021.00 12,496.00 757,517.00 5. Real Estate................................................................. 17,504.00 —0— 17,504.00 6. Escrow........................................................................ 696.00 —0— 696.00 TOTAL...................................................................... $19,605,668.00 $977,439.00 $20,583,107.00 ♦The difference in amounts is due to the required dropping of cents on the Annual Statement. The Valuation Exhibit of the Ratio of Assets to Liabilities and the Ratio of New Investment Income to Mean Assets from 1970 to 1981 follows: VALUATION EXHIBIT Ratio of Assets Ratio of Net Investment to Liabilities Income to Mean Assets 1970........... ......... 112.02% 1970........... ............4.59% 1971........... ......... 113.36% 1971........... ............5.96% 1972........... ......... 113.45% 1972........... ...........4.91% 1973 ........... ......... 113.29% 1973 ........... ............5.06% 1974........... ......... 113.63% 1974........... ...........5.35% 1975........... ......... 112.45% 1975 ........... ............5.46% 1976........... ......... 112.04% 1976........... ............5.53% 1977........... ......... 112.08% 1977............ ............5.82 % 1978........... ......... 119.06% 1978 ........... ............6.28% 1979........... ......... 121.15% 1979........... ............6.72% 1980........... ......... 123.29% 1980........... ............6.95% 1981........... ......... 127.00% 1981........... ............7.93% The following is a summarized report of the Ledger Assets: I. CASH ON CHECK & SAVINGS ACCOUNTS: The Federation maintains all financial transactions on both the General and Transfer Fund Accounts 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 1981..........................................$12,852,966.33 Balance forwarded from December 31, 1980 .._____73,373.19 Total receipts.............................. $12,926,339.52 Total disbursements.................... 12,750,962.45 Balance on Check Account. December 31, 1981 $ 175,377.07 Bank Reconcilement, December 31, 1981 Cash on HRFA Check Account. 12-31, 1981. $ 221.840.31 Outstanding Checks. December 31, 1981 .... 46.463.24 Balance forwarded to January 1. 1982 .......... $ 175,377.07 2. Canada Total receipts in 1981........................................ $ 617,340.35 Balance forwarded from December 31, 1980 . 47,365.89 Total receipts.............................. $ 664.706.24 Total disbursements.................. 655,927.54 Balance on Check Account, December 31, 1981 $ 8,778.70 Bank Reconcilement, December 31, 1981 Cash on HFRA Check Account, December 1, 1981 .......................................... $ 13,656.15 Outstanding Checks, December 31, 1981 ...._____4,877.45 Balance forwarded to January 1, 1982 ...... $ 8,778.70 10
