| THE ASSOCIATION FOR BIOLOGY LABORATORY EDUCATION, INC. (ABLE)
FINANCIAL STATEMENT SUMMARY
for the period June 1, 2009 – June 30, 2010
CHECKING ACCOUNT BALANCE, June 01, 2009: $ 9,038.60 *
Branch Banking & Trust (BB&T), Durham, NC
Income $ 11,438.27
Debits/Expenditures $ (12,184.28) °
Credit to ABLE Memorial Fund $ 50.00
• CHECKING ACCOUNT BALANCE, June 30, 2010: $ 8,342.59 *
TOTAL CD BALANCE, June 01, 2009: $ 43,750.47
CERTIFICATES OF DEPOSIT (BB&T), June 30, 2010
Number Interest Rate Maturity Date Amount
5811675220 0.10% 09/30/2010 $ 2,928.16
5811675239 0.50% 01/20/2011 $ 6,212.77
5811675662 0.80% 01/30/2011 $ 2,475.30
5811961762 0.20% 07/30/2010 $ 2,349.99
8340000834496 0.30% 03/12/2011 $ 5,057.00
8340000834518 0.30% 03/12/2011 $ 5,057.00
8340000834550 0.30% 03/12/2010 $ 5,057.00
8340000834526 0.50% 09/12/2010 $ 5,056.50
8340000834534 0.50% 09/12/2010 $ 5,056.50
8340000834542 0.50% 09/12/2010 $ 5,056.50
• TOTAL CD BALANCE, June 30, 2010: $ 44,306.72
TOTAL ASSETS, JUNE 01, 2009: $ 52,789.07
TOTAL ASSETS, JUNE 30, 2010: $ 52,649.31
* includes balance in ABLE Memorial Fund (current fund balance on 6/30/10 = -$ 30.00)
° does not include honoraria payments owed to ABLE 2009 major workshop presenters
Notes and remarks:
1. Although our fiscal year now runs July 1 to June 30, the summary above begins on June 1
to more fully reflect debits and credits paid and received shortly after the preceding year’s
the Conference.
2. The ABLE treasury is still very comfortably in the black. A healthy reserve was made possible by credits received from the 2007 and 2008 Conferences. The close income and debit balance reflects increased membership and no unexpected costs from the 2009 Conference. However, as indicated in the footnote above, the debits reported do not include honoraria owed to major workshop presenters at the 2009 conference, which were paid on 7/21/2010 totalling $3,400.
3. The reserve funds in the certificates of deposit continue to provide financial safety and stability, although the yields are at historic lows. They maturity dates provide liquidity during the fiscal for large payments such as honoria and publishing the Proceedings. The goal remains of maintaining a maximum checking account balance of no more than $10,000. No CD’s were purchased or redeemed during the period reported in this statement.
Respectfully submitted on September 24, 2010
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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