Financial Report

Summary
Opening Checking: 01-01-96	$10,067.65
Opening Schwab Investment: 01-01-96	$30,342.46
Total Opening:	$40,410.11
Closing Checking: 12-31-96:	$ 8,503.17
Closing Schwab Investment: 12-31-96	$34,422.59
Total Closing:	$42,925.76
Net gain, 1996	$ 2,515.65
Net loss, (subtract Schwab investment earnings)	–$ 1,564.48

1996 Income
Dues and subscriptions	$ 4,526.88
Checking Interest	$ 276.52
Schwab Interest, total:	$ 4,080.16
Bond fund (11.5 months):	$600.83
Index fund (12 months):	$3,479.33
1995 Annual Meeting	$ 2,278.20
Other (one sale of membership list)	$ 100.00
Total Income, 1996:	$11,261.76
Total Income, (subtract Schwab investment earnings):	$ 7,181.60

1996 Expenses
Blueline (typeset, print, mail 4 issues at preset price)	$ 3,200.00
AGI dues	$ 528.00
AGI GAP dues	$ 198.00
Contract Services (membership database/directory)	$ 1,800.00
1996 Directory (typeset, print, mail)	$ 1,557.26
1996 Ballot (envelopes, copying, postage)	$ 248.74
Annual Meetings: 1996 Meeting expenses	$ 195.81
Dues Notices	$ 188.19
Office Expenses (envelopes, labels, shipping, postage)	$ 344.81
Other (incorporation dues/fees, membership expenses,¹ President’s expenses)	$ 485.27
Total Expenses, 1996:	$ 8,746.08
¹ Membership expenses: new mugs = $265.00; print brochure = $55.08; membership mailer = $23.12.

Income
Dues (270 members at $30.00)	$ 8,100
Checking interest (about 3%, avg. balance of $8,000)	$ 240
1996 Annual Meeting (estimate, per R. Davie)	$ 4,000
Total Estimated Operating Income:	$12,340
Schwab Investment Earnings (avg. 7% on $34,000)	$ 2,380
Expenses
AGI (and GAP) dues (264 members)	$ 726
Blueline (4 issues @ contracted 32 pages/$100 per page)	$ 3,200
Contract Services—Mary Ann Schmidt:
1997 dues, maintain database, 1996 Directory	$ 1,600
Directory (typeset, print, mail)	$ 1,800
1997 Ballot (copying, envelopes, postage)	$ 250
Dues Notices	$ 500
Annual Meeting, 1997 start-up + expenses	$ 2,000
Office Expenses	$ 500
Other/Contingency	$ 424
Total Estimated Operating Expenses:	$11,000