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| INCOME | ||||
|---|---|---|---|---|
| Dues: | ||||
| Professional | $ 5,025.00 | |||
| Student | 2,099.00 | |||
| Family | 600.00 | |||
| Library | 2,078.00 | $9,802.00 | ||
| Meetings: | ||||
| Field–Spring | 2,277.00 | |||
| Field–Fall | 3,767.00 | |||
| Technical–Fall | 4,893.00 | 10,937.00 | ||
| Publications: | ||||
| Page Charges to Authors | 4,185.00 | 4,185.00 | ||
| Endowment Contributions: | ||||
| Endowment 737429 | 1,363.38 | 1,363.38 | ||
| Miscellaneous Income: | ||||
| Donations | 2,606.68 | |||
| Treasury Dept | 214.68 | |||
| Neuberger Dividends | 298.15 | 3,119.51 | ||
| Transfers of Funds: | ||||
| From CD 35633 | 2,000.00 | |||
| From Savings 692227 | 4,654.00 | 6,654.00 | ||
| TOTAL INCOME | $36,060.89 | |||
| EXPENSES | ||||
| Telephone | $559.38 | |||
| Office Expense | 1,565.31 | |||
| Printing | 10,989.17 | |||
| Postage | 1,340.56 | |||
| Spring Meeting | 2,263.00 | |||
| Fall Meeting | 3,370.00 | |||
| Technical Meeting | 1,951.07 | |||
| Insurance | 874.95 | |||
| Taxes | 704.75 | |||
| Awards | 1,363.38 | |||
| Travel | 985.84 | |||
| Salary | 6,460.50 | |||
| Audit | 1,700.00 | |||
| Banking | 10.00 | |||
| Dues & Fees | 1,027.00 | |||
| Editing, Copy | 770.00 | |||
| TOTAL EXPENSES PAID | $35,934.91 | |||
| PRO FORMA EXPENSES | ||||
| To Endowment 737429 | 2,403.50 | |||
| TOTAL EXPENSES | 38,338.41 | |||
| EXCESS OF EXPENSES OVER INCOME |
$2,277.52 |
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| ASSETS | |||
|---|---|---|---|
| CASH | |||
| Checking Account 228648 | $10,492.76 | ||
| Endowment Fund 737151 | 9,476.51 | ||
| Savings Account 691127 | 3,804.76 | ||
| INVESTMENTS | |||
| CD 48204 | 10,000.00 | ||
| Shares - Nicholas 11 | 5,000.00 | ||
| Shares - Neuberger | 5,000.00 | ||
| Shares - Vanguard | 10,000.00 | ||
| TOTAL ASSETS |
$53,774.03 |
||
| LIABILITIES | |||
| Liabilities | 0.00 | 0.00 | |
| BALANCE | |||
| Beginning Balance All Funds | 59,291.34 | ||
| Less-. Excess of Expenses | (2,277.52) | ||
| Over income | |||
| Less: Decrease in Investments | (3,239.79) | ||
| BALANCE 12/31/99 | 53,774.03 | ||
| TOTAL LIABILITIES and BALANCE |
$53,774.03 |
Nov.9, 2000
Dr. T. David Bass
President
Oklahoma Academy of Science
I have examined the Balance Sheet arising from cash transactions of the Oklahoma Academy of Science as of December 31, 1999 and the related Statement of Revenues Collected and Expenses Paid for the period January 1, 1999 to December 31, 1999, My examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other procedures as considered necessary in the circumstances.
The Academy's policy is to prepare its financial statements on the basis of cash receipts and disbursements. Revenues and the related assets are recognized when received rather than when earned, and expenses are recognized when paid rather than when the obligation is incurred. Accordingly, the accompanying financial statements are not intended to present financial position and results of operations in conformity with generally accepted accounting principles.
In my opinion, the financial statements referred to above present fairly the assets and liabilities arising from cash transactions of the Oklahoma Academy of Science as of December 31, 1999, and the revenue collected and expenses paid during the period mentioned above, on the cash basis of accounting, which basis has been applied in a manner consistent with that of the preceding year.
/S/Julie Couch, Accountant
601 South Gray
Stillwater, OK 74074
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