PROCEEDINGS OF THE
OKLAHOMA ACADEMY OF SCIENCE
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Volume 74—1994

{Page 60}

STATEMENT INCOME AND EXPENSES FOR 1993 JANUARY 1 TO DECEMBER 31

INCOME
Dues:
Professional $ 5,730.50
Student 1,100.00
Library 1,050.00
Life, Sustaining, Family 263.00 $ 9,083.50
 
Meetings:
Field–Spring 994.00
Field–Fall 2,520.50
Technical–Fall 3,794.50 7,309.00
 
Publications:
Sales of Publications 1,783.25
Page Charges to Authors 1,908.50 3,691.75
 
Endowment and Donation Income 1,510.00 1,510.00
 
Interest Income:
Savings Account $ 1,200.28
Endowment Account 48.16
Operating Account 69.34 1,317.78
 
Miscellaneous Income
Redeposit of change funds 950.00
Other misc. income 187.00 1,137.00
TOTAL INCOME $24,049.03
EXPENSES PAID
Telephone 194.33
Supplies 638.14
Printing 8,739.13
Editorial Expense (POAS) 423.45
Postage 902.67
Field Meeting–Spring 332.52
Field Meeting–Fall 2,270.75
Technical Meeting–Fall 2,030.33
Insurance (Liability) 1,330.00
Oklahoma State Sales Tax 493.90
Dues 120.00
Audit 380.00
Miscellaneous 393.37
TOTAL ORDINARY EXPENSES PAID 18,248.59
Transfer to Endowment Investment 1,465.00
Change funds for Registration Desk 950.00 2,415.00
TOTAL EXPENSES 20,663.59
EXCESS OF INCOME OVER EXPENSES $    3,385.44

The Oklahoma Academy of Science is a non-profit organization, organized under Section 501 C (3) of the Internal Revenue Code of 1954.

Books and records of the organization are maintained on the cash basis of accounting.

{Page 61}

BALANCE SHEET AT 1993 DECEMBER 31

ASSETS
  Cash – Market Rate Checking Account $   9,128.47
  Cash – Savings Account 3,230.13
  Cash – Endowment Fund 506.38
  Investments – Savings Account
Certificate of Deposit
16,000.00
202 shares N-II
5,000.00
766 shares NBI
8,000.00
  Investments – Endowment Fund
172 shares VG
5,556.00
TOTAL ASSETS $ 47,420.98

LIABILITIES
  Liabilities 0.00 0.00
BALANCE
  Balance at 1992 Dec 31 $ 42,129.54
  Add: Excess of Income over Expenses, 1993 3,385.44
  Add: Increase in Investment – Endowment 1,906.00
  BALANCE at 1991 Dec 31 47,420.98
TOTAL of LIABILITIES AND BALANCE $ 47,420.98

 

June 17, 1994

Dr. Jack D. Tyler
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, 1993 and the related statement of Revenues Collected and Expenses Paid for the period January 1, 1993 to December 31, 1993. 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, 1993, 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/William H. Jordan
William H. Jordan PA
Oklahoma Certificate # 653
Oklahoma Permit # 0136