Treasurer's Report

Alec Motten
Duke University
Durham, NC

afmotten@duke.edu

THE ASSOCIATION FOR BIOLOGY LABORATORY EDUCATION, INC.   (ABLE)

FINANCIAL STATEMENT SUMMARY

June 1, 2006 – June 30, 2007   (new end of ABLE fiscal year)

CHECKING ACCOUNT BALANCE,  June 01, 2006:   $6,662.92
 Branch Banking & Trust, Durham (BB&T), NC

      Credits/Income                                               $ 14,064.33

      Debits/Expenditures                           $ 16,889.45

• CHECKING ACCOUNT BALANCE,  June 30, 2007:   $ 3,837.80

TOTAL CD BALANCE,  June 1, 2006:                         $23,585.16

CERTIFICATES OF DEPOSIT (BB&T)  June 30, 2007

        Number            Interest Rate   Maturity Date       Amount

 
• TOTAL CD BALANCE,                    June 30, 2007:   $24,528.93

                                      TOTAL ASSETS,  JUNE 01, 2006:  $30,468.08

                                      TOTAL ASSETS,  june 30, 2007:  $28,366.73

Notes and remarks:

1. The ABLE treasury remains in favorable shape.  On the credit side, interest rates for certificates of deposits are up slightly, the recent decline in membership dues income has been halted, and most especially recent Conference hosts have been successful in obtaining significant contributions from vendors and sources outside of ABLE.  On the debit side, savings have accrued from careful budgeting by Conference hosts, by the switch from bound paper volumes of the Proceedings to a CD format, and by the decision not to fund Lab Initiative Grants this past fiscal year.  The decline in the checking account balance is largely the result of changing our fiscal year from June 1 to June 30, until after our annual meeting.  Because major expenses, such as publishing the Proceedings, occur in June, the balance sheet this year reflects two such payments. 
2. Looking ahead, because conference expenses and outside contributions are not fully predictable, added income from conferences should not be viewed as a reliable source of future ABLE revenue.  Also, expenses for Lab Initiative Grants, an important part of the ABLE mission, will be incurred again in the current fiscal year.
3. As has been true for the past decade, the reserve funds in the certificates of deposit continue to provide financial stability.

     Respectfully submitted on September 24, 2007

ALEXANDER F. MOTTEN, Treasurer, ABLE
afmotten@duke.edu
(919)684-2301

Duke University
Department of Biology
Box 90338
Durham, NC 27708-0338