William Penn Life, 1968 (3. évfolyam, 1-12. szám)
1968-10-01 / 10. szám
CERTIFICATE OF AUDIT The members of the National Auditing Committee for the William Penn Fraternal Association, met at the Home Office, 429 Forbes Avenue, Pittsburgh, Pennsylvania on Monday, September 16, 1968 to begin their semi-annual audit of the books and records of the Association. The following Committee Members were present: Zoltán B. Emri, László Kereszti, Albert G. Kertesz, William G. Kohut, Helen Nemeth, and John P. Veszprémi. Our examination includes the period beginning January 1, 1968 and ending June 30, 1968. The committee was divided into three groups and began their audit of all income accounts. Income accounts were examined and verified through bank deposit tickets and confirmations were received from the various banks stating cash balances of the Association’s funds on deposit at June 30, 1968. These confirmations were compared with the Association’s bank statements and book records and found to be correct. All income for the period consisted mainly of premium payments, loans, bond and stock interest and dividends, rentals, and miscellaneous items. Receipts from the sales of bonds and stocks were also traced and verified through the investment committee. Careful attention was given to all disbursements during the six month period involved. Payments for death and sick benefits, matured policies, cash surrenders, policy loans, investments, salaries, commissions and dividends, general operating expenses and miscellaneous expenses. All expenditures were found to be properly authoried for payment. The next phase of our examination covered the Securities Portfolio and disclosed that during the period there were four (4) Bond purchases and five (5) sales of Bonds and Stocks. In checking the .Loans attention was given to the signatures on the applications with signatures on the Lien Notes. The minutes from the Board of Directors Meetings were read and evaluated with special attention being given to the aims and objects proposed by the Directors for the future. It is the opinion of this committee that these goals proposed will reflect a sound and secure future for our Association and all of its members. The Ledger Assets of the Association and their distribution at June 30, 1968 is as follows: Bonds ...................................$28,308,283.83 Stocks ................................... 911,398.73 Mortgages ........................... 1,089,292.04 Real Estate ......................... 549,841.21 Branch Real Estate Loans 26,679.75 Policy Loans & Liens ..... 1,064,426.16 Cash on Hand & Bank Deposits 172,915.12 Other Assets ....................... 132,276.38 Total Ledger Assets .........$32,255,113.22 Less Liabilities ................. 4,843.78 Net Ledger Assets, June 30, 1968 .................$32,250,269.44 Increase in Ledger Assets, 6 Months ........................$ 297,876.11 This, our second visit to the Home Office disclosed that all operations are continuing on an ever ascending scale with new promotions and ideas being fostered and put into actual operation. The membership as a whole will realize the benefits to be obtained from these implementations. WE ARE ON THE MOVE! We are experiencing ACTION rather than WORDS! The computer operation at the Home Office has brought about a streamlined functioning of the Various departments. This has made our work load much lighter and much easier. This is 1968, the age of the computer. The Committee will meet again in March, 1969 and we plan to visit the Western Pennsylvania Bank in order to study how the new computer premium billing system operates after which time this committee will render a complete report to the members. The final phase of our examination was concluded with an interview with the National Officers and General Counsel. Committee members asked various questions of the National Officers and President Elmer Charles assured the Committee in his address that every step was being taken to further the institution in the various departments of finance, membership and fraternalism. The meeting proved beneficial because it afforded a free and easy exchange of ideas and findings among the National Officers and Committee members. It was really fraternalism in practice. Our examination was made in accordance with generally accepted auditing standards and accordingly included Treasured Hungarian Recipes New Edition of Popular Cook Book Available Proof of its tremendous popularity, the seventh edition of Treasured Hungarian Recipes has just come off the press. First published in 1962 by the Ladies Auxiliary of the William Penn Fraternal Association, Branch 18, the demand for this fine cook book continues to grow. Not the general run of the mill cook book, the collection is made up entirely of treasured recipes of the Auxiliary members. Included are many that have been handed down from generation to generation, others are family favorites. All are delicious. The book edited by the members of the Ladies Auxiliary contains over 130 recipes. The seventh edition has been revised. Among the new recipes is one for venison with bread dumplings which is superb. Another is a luscious Hungarian Pound Cake. There are recipes for unusual soups, noodles, sauces, salads and vegetables. The entrees range from stuffed cabbage to Mushroom Paprikas. The pastries, desserts, frostings and fillings are mouth watering. Also included is a section of recipes for large groups. Priced at $1.50, the collection of Treasured Hungarian Recipes and family favorites can be purchased from Mrs. Vespremi, 2415 Stair, VI 1-7815; Mrs. Stephen Danko, the secretary of the Auxiliary, 17275 Cedarlawn, Southgate, telephone 287-8035 or at the William Penn office, 3920 Fort Street, Lincoln Park, WA 8-0887. If you wish to order the cook book by mail, send $1.85 to cover the cost of postage. such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstance^, the audit being concluded on Saturday, September 21, 1968. Respectfully submitted: William C. Kohut—Chairman John P. Veszprémi—Secretary Zoltán B. Emri—Member László Kereszti—Member Albert G. Kertesz—Member Helen Nemeth—Member 6
