Fall 2003
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Treasurer's Report

Alec Motten, Treasurer
 Duke University
 afmotten@duke.edu

  


YEAR END FINANCIAL STATEMENT SUMMARY
for FISCAL YEAR JUNE 01, 2002 – MAY 31, 2003

as presented to the ABLE membership at the annual business meeting on June 6, 2003 during the 25th ABLE Conference/Workshop at the University of Nevada, Las Vegas.

CHECKING ACCOUNT BALANCE, June 1, 2002 (Branch Banking and Trust, Durham, NC):
$21,741.75
Credits/Income
$ 15,400.42
Debits/Expenditures
$ 20,172.59
CHECKING ACCOUNT BALANCE, May 31, 2003
$16,969.58

 

CERTIFICATES OF DEPOSIT (BB&T), June 1, 2002
$22,373.87
CERTIFICATES OF DEPOSIT (BB&T), May 31, 2003:  
Number
Interest Rate
Maturity Date
Amount
  
5811675220
1.73%
09/20/03
$5,212.86
  
5811675239
2.13%
06/20/03
$5,338.69
  
5811675662
2.13%
07/30/03
$2,140.25
  
5813523010
1.09%
12/04/03
$5,384.01
  
5813766215
2.13%
06/09/03
$2,590.39
  
5811961762
1.00%
11/30/03
$2,111.85
  
  Total Certificates of Deposit, May 31, 2002:  
$22,778.05

 

TOTAL ASSETS, JUNE 01, 2002
$45,855.88
TOTAL ASSETS, MAY 31, 2003
$39,746.63

Prepared MAY 31, 2003

Respectfully submitted,

ALEXANDER F. MOTTEN, Treasurer, ABLE

Department of Biology
Box 90338
Duke University
Durham, NC 27708-0338
(919) 684-2301
afmotten@duke.edu


Notes and remarks:

The overall financial position of ABLE remains healthy. The decline in total assets and the excess in expenditures over income this fiscal year are due primarily to a decrease in membership revenue. This is an issue that the ABLE board is addressing in several ways.

Certificates of deposit continue to provide ABLE with a strong financial reserve. The investment strategy has emphasized preservation of capital, yet even with historically low interest rates, the total amount invested increased during the year by more than $404. No CDs were redeemed this year into the checking account balance.

 
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