| THE ASSOCIATION FOR BIOLOGY LABORATORY EDUCATION, INC. (ABLE)
FINANCIAL STATEMENT SUMMARY
June 1, 2005 - May 31, 2006
CHECKING ACCOUNT BALANCE
(Branch Banking & Trust,
Durham, NC) |
June 1, 2005 |
$11,129.69 |
| Credits/Income |
year to date |
$11,288.56 |
| Debits/Expenditures |
year to date |
$15,750.33 |
| --CHECKING ACCOUNT BALANCE |
May 31, 2006 |
$6,667.92 |
| |
|
|
| TOTAL CD BALANCE |
June 1, 2005 |
$23,368.01 |
| CERTIFICATES OF DEPOSIT (BB&T) |
May 31, 2006 |
|
| |
Number |
Interest rate |
Maturity date |
Amount |
| | 5811675220 |
3.00% |
12/20/06 |
$5,452.94 |
| | 5811675239 |
3.00% |
09/20/06 |
$5,500.06 |
| | 5811675662 |
3.00% |
04/30/07 |
$2,245.30 |
| | 5813523010 |
2.96% |
06/04/06 |
$5,503.27 |
| | 5813766215 |
2.96% |
06/09/06 |
$2,704.89 |
| | 5811961762 |
1.98% |
07/30/06 |
$2,178.70 |
--TOTAL
CD BALANCE |
May 31, 2006 |
$23,585.16 |
| |
|
|
| |
TOTAL ASSETS, June 1, 2005: |
$34,497.70 |
| |
TOTAL ASSETS, May 31 , 2006: |
$30,253.08 |
Notes and
remarks:
- The decline in the cash balance over this fiscal year largely reflects
a shortfall in revenue from membership dues, our major source of
income. The dues payments we collected were insufficient to
cover our major expenses of publishing the Conference Proceedings and
paying honoraria to major workshop presenters. In addition,
we also funded three Lab Initiative grants this year, totaling $4,000,
after funding none the previous year.
- In the short term ABLE is financially secure because of the reserves
in the certificates of balance, but declining revenue from membership
dues is a long term concern unless expenses can be reduced or other
sources of revenue identified. The Board is addressing this
issue.
Respectfully submitted on May 31, 2006.
ALEXANDER F. MOTTEN, Treasurer, ABLE
afmotten@duke.edu
(919)684-2301
Duke University
Department of Biology
Box 90338
Durham, NC 27708-0338
|
