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| REVENUES COLLECTED | ||||
|---|---|---|---|---|
| Dues: | ||||
| Professional | $2,700.00 | |||
| Student | 925.00 | |||
| Family | 2,047.50 | |||
| Library | 390.00 | $ 6,062.50 | ||
| Meetings: | ||||
| Field–Spring | 2,164.00 | |||
| Field–Fall | 3,063.50 | |||
| Technical | 6,160.00 | 11,387.50 | ||
| Publications: | ||||
| Page Charges to Authors | 2,925.00 | |||
| Donations | 1,316.00 | 4,241.00 | ||
| Miscellaneous income: | ||||
| Nicholas II Fund, Inc. - Dividends | 1,607.06 | |||
| Neuberger Berman - Dividends | 310.58 | |||
| Vanguard Healthcare Fund - Dividends | 2,870.80 | |||
| Interest income | 681.27 | |||
| 5,469.71 | ||||
| TOTAL REVENUE COLLECTED | 27,160.71 | |||
| EXPENSES PAID | ||||
| Telephone | 501.26 | |||
| Office | 448.78 | |||
| Printing | 5,536.95 | |||
| Postage | 1,145.85 | |||
| Spring meeting | 1,930.85 | |||
| Fall meeting | 2,128.50 | |||
| Technical meeting | 2,598.61 | |||
| Insurance | 825.00 | |||
| Payroll taxes | 232.00 | |||
| Awards | 1,910.83 | |||
| Travel and air fare | 530.44 | |||
| Salary | 3,000.00 | |||
| Production editor | 2,998.00 | |||
| POAS digitization | 7,000.00 | |||
| Bank service charges | 10.00 | |||
| TOTAL EXPENSES PAID | 30,797.07 | |||
| EXCESS EXPENSES PAID OVER REVENUES COLLECTED |
$3,636.36 |
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| ASSETS | |||
|---|---|---|---|
| CASH: | |||
| Checking Account (228648) | 10,604.33 | ||
| Savings account (737429) | 8,694.32 | ||
| Savings account (691127) | 2,495.82 | $21,794.47 | |
| INVESTMENTS: | |||
| Certificate of deposit (48204) | 2,972.40 | ||
| Nicholas II Fund, Inc. (2500865010), at cost | 5,000.00 | ||
| Neuberger Berman (140053067), at cost | 5,000.00 | ||
| Vanguard Health Care Fund (9880623556), at cost | 12,870.80 | ||
| $25,843.20 | |||
| Due from The Oklahoma Junior Academy of Science | |||
| 2,500.00 | |||
| TOTAL ASSETS |
$50,137.67 |
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| LIABILITIES AND FUND BALANCE | |||
| LIABILITIES | $0.00 | ||
| FUND BALANCE: | |||
| Beginning operating fund balance | $53,774.03 | ||
| Excess expenses paid over revenues collected | (3,636.36) | ||
| Ending operating fund balance | 50,137.67 | ||
| TOTAL LIABILITIES AND FUND BALANCE |
$50,137.67 |
Executive Committee
The Oklahoma Academy of Science
State of Oklahoma
We have audited the accompanying statements of assets, liabilities and fund balance arising from cash transactions of The Oklahoma Academy of Science as of December 31, 2000 and the related statements of revenue collected and expenses paid for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As described in Note 2,these financial statements were prepared on the basis of cash receipts and disbursements, which is a comprehensive basis of accounting other than generally accepted accounting principles. Also, this report has been prepared only for the internal use of the Executive Committee of the Oklahoma Academy of Science.
In our opinion, the financial statements referred to above present fairly, in all material respects, the assets, liabilities and fund balance arising from cash transactions of The Oklahoma Academy of Science as of December 31, 2000 and its revenue collected and expenses paid during the year then ended, on the basis of accounting described in Note 2.
Lemming, Schaller, & Co.
Certified Public Accountants
June 30, 2001
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