Treasurer's Report

Alec Motten, Treasurer
Duke University
afmotten@duke.edu

YEAR END FINANCIAL STATEMENT SUMMARY
for FISCAL YEAR JUNE 01, 2003– MAY 31, 2004

as presented to the ABLE membership at the annual business meeting during the 26th ABLE Conference/Workshop at Bowling Green State University, Ohio.

Prepared MAY 31, 2004

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 solid. Both total income and expenditures were down from last year and expenditures again exceeded income, but the difference was about the same as the previous year. This was so even though we once again awarded a Lab Initiative Grant (in the amount of $1500) and received a modest ($931) surplus from the Las Vegas Workshop/Conference, which was in line with typical, past credits and the general expectation that on average Conference income and expenses will break even.

The good news is that membership revenues for the current fiscal year were up more than $2,500, reversing a downward trend and helping to reinforce our main, long-term financial base. As in 2002/2003, we incurred atypical expenses ($2,500) associated with getting the ABLE name out at the NABT convention as part of a Board-approved strategy to increase our membership and influence.

Additional good news is that the certificates of deposit continue to provide ABLE with a strong financial reserve. In these uncertain times the investment strategy has emphasized preservation of capital, and has been successful in that regard. Because of historically low interest rates the total amount invested increased during the year by a modest $269. No CDs were redeemed into the checking account balance this year.