| THE ASSOCIATION FOR BIOLOGY LABORATORY EDUCATION, INC. (ABLE)
FINANCIAL STATEMENT SUMMARY
for the period June 1, 2008 – June 30, 2009
CHECKING ACCOUNT BALANCE, June 01, 2008: $ 1,571.84 *
Branch Banking & Trust (BB&T), Durham, NC
Income $ 43,787.16
Certificates of Deposits cashed $ 6,014.72
Debits/Expenditures ($ 15,702.14) °
Certificates of Deposits purchased ($ 30,000.00)
• CHECKING ACCOUNT BALANCE, June 30, 2009: $ 5,671.58*
TOTAL CD BALANCE, June 01, 2008: $ 19,302.65
CERTIFICATES OF DEPOSIT (BB&T), June 30, 2009
Number Interest Rate Maturity Date Amount
5811675220 |
0.70% |
01/30/2010 |
$ 2,914.46 |
5811675239 |
1.73% |
12/20/2009 |
$ 6,088.01 |
5811675662 |
1.73% |
10/30/2009 |
$ 2,429.75 |
5811961762 |
0.80% |
11/30/2009 |
$ 2,337.44 |
8340000834518 |
1.14% |
03/12/2010 |
$ 5,000.00 |
8340000834518 |
1.14% |
03/12/2010 |
$ 5,000.00 |
8340000834550 |
1.14% |
03/12/2010 |
$ 5,000.00 |
8340000834526 |
1.50% |
12/12/2009 |
$ 5,000.00 |
8340000834534 |
1.50% |
12/12/2009 |
$ 5,000.00 |
• TOTAL CD BALANCE, June 30, 2009: $ 38,769.66
TOTAL ASSETS, JUNE 01, 2008: $ 20,874.49
TOTAL ASSETS, JUNE 30, 2009: $ 44,441.24
* includes balance in ABLE Memorial Fund (current fund balance on 5/13/09 = -$80.00)
° does not include still pending honoraria payments to ABLE 2008 major workshop presenters
Notes and remarks:
- Although our fiscal year now runs July 1 to June 30, the summary above begins on June 01, 2008 to reflect such major expenses as honoraria to presenters, which were paid last year in 208 in early June and thus would otherwise not have been included in the annual debit total.
- The ABLE treasury is very comfortably in the black. This is due to (i) improved membership income, (ii) receipt this year of a substantial credit from the 2007 Conference at the University of Kentucky, and (iii) reimbursement of the advance made to the University of Toronto - Mississagua for the 2008 Conference plus a credit from that conference.
- The reserve funds in the certificates of deposit continue to provide financial stability. During this fiscal year, one certificate of deposit was cashed out into the checking account to provide needed liquidity. Surplus funds from Conference credits were invested in CDs with varied maturity dates with the goal of maintaining a maximum checking account balance of no more than $10,000.
Respectfully submitted on September 17, 2009
ALEXANDER F. MOTTEN, Treasurer, ABLE (919) 684-2301
Department of Biology, Box 90338 afmotten@duke.edu
Duke University,
Durham, NC 27708-0338
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