PROCEEDINGS OF THE
OKLAHOMA ACADEMY OF SCIENCE
Library Digitization Homepage
OAS Homepage
Copyright
Search
Volume 75—1995

{Page 72}

STATEMENT INCOME AND EXPENSES FOR 1994 JANUARY 1 TO DECEMBER 31

INCOME
Dues:
Professional $ 5,675.00
Student 896.00
Family 1,080.00
Library 1,525.50
Life, Sustaining, Family 627.00 $ 9,803.50
 
Meetings:
Field–Spring 3,513.00
    Less refunds (3,414.00)*
Field–Fall 4,529.50
    Less refunds (130.50)
Technical–Fall 3,958.50
    Less refunds     (77.00) 8,379.50
 
Publications:
Sales of Publications 646.87
Page Charges to Authors 2,202.00 2,848.87
 
Interest Income: 167.97 167.97
Miscellaneous Income:
Redeposit of change funds 800.00
Sale of misc. items 406.00
Other misc. income 208.10 1,414.10
Transfer from Savings Account 3,500.00 3,500.00
TOTAL INCOME 26,113.94
EXPENSES PAID
Telephone 161.19
Office Expense 959.12
Printing 8,463.25
Postage 875.03
Field Meeting–Spring 186.12*
Field Meeting–Fall 3,853.20
Technical Meeting–Fall 2,196.02
Insurance (Liability) 971.00
Oklahoma State Sales Tax 478.79
Dues (National) 373.00
Audit 398.00
Advertising (POAS) 188.00
Miscellaneous 273.66
TOTAL ORDINARY EXPENSES PAID 19,376.38
Transfer to Endowment Investment 3,500.00
Transfer to Endowment 1,000.00
Transfer to Savings 4,211.00
Change funds for Registration Desk 800.00 9,511.00
TOTAL EXPENSES 28,887.38
EXCESS OF EXPENSES OVER INCOME $    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.

* The Spring Field Meeting was cancelled because of flooding at the meeting site; registration fees were refunded.

{Page 73}

BALANCE SHEET AT 1994 DECEMBER 31

ASSETS
  Cash – Checking Account $   6,355.03
  Cash – Savings Account 9.318.58
  Cash – Endowment Fund 1,523.53
  Investments – Savings Account
Certificate of Deposit
12,000.00
202 shares N-II
5,000.00
766 shares NBI
8,000.00
  Investments – Endowment Fund
172 shares VG
9.056.00
TOTAL ASSETS $ 51,253.14

LIABILITIES
  Liabilities 0.00 0.00
BALANCE
  Balance at 1993 Dec 31 $ 47,420.98
  Less: Excess of Expenses over Income, 1994 (2,773.44)
  Add: Increase in Investment – Endowment + Savings 6,605.60
  BALANCE at 1994 Dec 31 51,253.14
TOTAL of LIABILITIES AND BALANCE $ 51,253.14

 

June 12, 1995

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, 1994 and the related statement of Revenues Collected and Expenses Paid for the period January 1, 1994 to December 31, 1994. 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, 1994, 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 # 0133