PROCEEDINGS OF THE
OKLAHOMA ACADEMY OF SCIENCE
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Volume 76—1996

{Page 114}

STATEMENT INCOME AND EXPENSES FOR 1995 JANUARY 1 TO DECEMBER 31

INCOME
Dues:
Professional $ 4,575.00
Student 1,395.00
Family 780.00
Library 1,674.50
Life, Sustaining 0.00 $ 8,424.50
 
Meetings:
Field–Spring 3,444.00
Field–Fall 6,145.25
Technical–Fall 3,340.00 12,929,25
 
Publications:
Sales of Publications 883.00
Page Charges to Authors 1,136.00 2,019.00
 
Endowment Contributions 2,822.50 2,822.50
Miscellaneous Income:
Redeposit of change funds 900.00 900.00
Transfer from Savings Account 4,000.00 4,000.00
TOTAL INCOME 31,095.25
EXPENSES PAID
Telephone 129.61
Office Expense 711.64
Printing 7,086.48
Postage 923.09
Field Meeting–Spring 3,024.30
Field Meeting–Fall 5,736.04
Technical Meeting–Fall 2,742.39
Insurance (Liability) 1,090.50
Oklahoma State Sales Tax 383.15
Dues (National) 235.00
Audit 396.00
Editorial Charges (POAS) 451.20
Travel 1,568.25
OAS Homepage Disk 585.00
Bank Charges 130.24
Miscellaneous 409.81
TOTAL ORDINARY EXPENSES PAID 25,602.70
Transfer to Endowment Fund 2,805.50
Change funds for Registration Desk 900.00 3,705.50
TOTAL EXPENSES 29,308.20
EXCESS OF INCOME OVER EXPENSES $    1,787.05

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 115}

BALANCE SHEET AT 1995 DECEMBER 31

ASSETS
  Cash – Checking Account $   8,142.08
  Cash – Savings Account 7,428.15
  Cash – Endowment Fund 3,512.24
  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
307 shares VG
9,539.00
TOTAL ASSETS $ 53,621.47

LIABILITIES
  Liabilities 0.00 0.00
BALANCE
  Balance at 1994 Dec 31 $ 51,253.14
  Add: Excess of Income over Expenses, 1995 1,787.05
  Add: Increase in Investment – – Endowment + Savings 581.28
  BALANCE at 1995 Dec 31 53,621.47
TOTAL of LIABILITIES AND BALANCE $ 53,621.47

 

June 11, 1996

Dr. Connie Taylor
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, 1995 and the related statement of Revenues Collected and Expenses Paid for the period January 1, 1995 to December 31, 1995. 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, 1995, 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 # 0119