RULE 024.00.72-001 - Financial Statements

RULE 024.00.72-001. Financial Statements

Exhibit A

ARKANSAS BURIAL ASSOCIATION BOARD

STATEMENT OF ASSETS, LIABILITIES AND NET EQUITY

JUNE 30, 1972 AND 1971

ASSETS

JUNE 30, 1972

1971

INCREASE (DECREASE)

CURRENT ASSETS

Cash in Bank - Checking Account

$ 20,992

$ 19-110

$ 1,882

INVESTMENTS

        

Commonwealth Federal Savings & Loan

10,000

10,000

-

Bank of Prescott

5,000

5,000

-

First Federal Savings & Loan

10,000

10,000

-

Union National Bank - Savings Account

7,833

7,490

343

Total Investments

32,833

32.490

343

FIXED ASSETS

        

Automobiles

. 6,101

6,100

1

Office Furniture and Equipment

5.710

5,710

-

Total Fixed Assets

11,811

11.810

-

TOTAL ASSETS

$ 65,636

$ 63,410

$ 2,226

Liabilities and Net Equity

        

LIABILITIES

        

NET EQUITY

        

Balance, beginning of year

63,410

61,057

2,353

Add: Excess of Income over Expense Schedule Attached

2,226

2,353

(127)

Balance, end of year

65,636

63,410

2,226

Total Liabilities and Net Equity

$ 65.636

$ 63.410

$ 2,226

Exhibit B

ARKANSAS BURIAL ASSOCIATION BOARD

STATEMENT OF INCOME AND EXPENSE

FOR THE YEAR ENDED JUNE 30, 1972 AND 1971

  

JUNE 30, 1972

1971

INCREASE (DECREASE)

INCOME

        

Annual Licenses Fees

$ 31,000

$ 30,845

$ 155

Licenses to Agents

3,840

3,573

267

Applications and Certificates

-

557

(557)

Interest Received

1,609

1,939

(330)

Penalties

40

-

40

Certificate of Authority

1,000

500

500

Miscellaneous Income

1,185

-

1,185

Total Income

$ 38.674

$ 37.414

$ 1,260

EXPENSES

        

Salaries - S. R. Sims

9,000

9,000

-

- Ann Cotton

4,800

4,800

-

- C. E. Moore

7,500

7,500

  

Board Members Expense

1,940

2,437

(497)

Travel - Gas & Oil

1,203

1,292

(89)

Travel - S. R. Sims

241

215

26

Travel - C. E. Moore

1,275

1,503

(228)

Automobile Expense

203

338

(135)

Automobile Licenses, Taxes & Titles

41

38

3

Attorney Fees

300

1,200

(900)

Audit Fees - Board Books

195

165

30

Telephone

286

305

(19)

Rent - Office

1,980

1,980

-

Rent - Parking

156

144

12

Printing and Office Supplies

442

924

(482)

Materials & Supplies

732

-

732

Insurance & Bonds

577

563

14

Contract Work - Checking Death

        

Certificates at State Board of Health

800

1,200

(400)

Office Equipment Repairs

87

112

(25)

Postage

414

334

80

Miscellaneous

75

-

75

Bank Service Charges

4

4

-

Payroll Taxes

967

1,007

(40)

Loss on Disposal of Automobile

1,739

-

1,739

State Retirement

1.491

-

1,491

Total Expense

$ 36,448

$ 35,061

$ 1,387

Excess of Income over Expense

$ 2.226

$ 2.353

$ (127)

Schedule 1

ARKANSAS BURIAL ASSOCIATION BOARD

CHANGES IN FIXED ASSETS

FOR THE YEAR ENDED, JUNE 30, 1972

AUTOMOBILES

BALANCE 6-30-71

ADDITIONS

RETIREMENTS

BALANCE 6-30-72

1-1972 American Ambassador

$ -

$ 2,957.13

$ -

$ 2,957.13

1-1970 Biscayne Chevrolet

2,956.84

  

2,956.84

  

1-1970 Impala Chevrolet

3,143.34

     

3,143.34

  

$ 6,100.18

$ 2,957.13

$ 2,956.84

$ 6,100.47

OFFICE FURNITURE & EQUIPMENT

           

3-Green Upholstered Chairs

209.61

     

209.61

1-Costumer

20.91

     

20.91

4-Legal Size File Cabinets

462.68

     

462.68

1-Gray Storage Cabiner

70.89

     

70.89

5-Drawer Victor Visable File

60.13

     

60.13

1-Green Typewriter Desk

197.88

     

197.88

1-Walnut Desk

255.00

     

255.00

1-Revolving Arm Chair

101.75

     

101.75

2-Side Arm Chairs

164.73

     

164.73

2-Green Storage Cabinets

148.01

     

148.01

8-Walnut Side Chairs

301.11

     

301.11

1-Glass Desk Top

16.83

     

16.83

1-Conference Table

429.01

     

429.01

1-Coat Rack

47.43

     

47.43

1-Adding Machine Carrying Case

22.95

     

22.95

1-Walnut Typewriter Stand

21.32

     

21.32

1-Check Protector

113.40

     

113.40

1-Walnut Table

204.00

     

204.00

10-Chair Cushions

76.50

     

76.50

1-Pair Book Ends

17.50

     

17.50

1-Legal File

70.00

     

70.00

2-Visable Books

37,50

     

37.50

1-Portable Folding Table

15.30

     

15.30

1-Victor Electric Adding Machine

233.98

     

233.98

1-Upholstered Chair

46.80

     

46.80

2-Legal File Cabinets

226.70

     

226.70

1-IBM Electric Typewriter

458.35

     

458.35

1-Victor Adding Machine

241.95

     

241.95

1-Machine Steel Desk

229.74

     

229.74

1-Argus Projector

85.39

     

85.39

1-Puritron

51.45

     

51.45

1-Victor Adding Machine

119.03

     

119.03

1-Actimeter for Verifax Machine

89.10

     

89.10

1-Secretary's Chair

94.71

     

94.71

1-Victor Adding Machine

221.55

     

221.55

1-AB Dick Meraeograph Machine & Stand

546.55

     

546.55

  

$ 5,709.74

-

-

$ 5,709.74

Total

$11,809.92

$ 2.957.13

$ 2,956.84

$11,810.21

Schedule 2

ARKANSAS BURIAL ASSOCIATION BOARD

INSURANCE IN FORCE

JUNE 30, 1972

INSURANCE COMPANY

COVERAGE

AMOUNT

TERM

PREMIUM PAID

Home Insurance Company

Furniture & Office Equipment

7,500.00

3 yrs.

39.00

State Farm Mutual

Automobiles policy Bodily Injury

100/30,000.00

1 yr.

480.80

  

Property Damage

25,000.00

     
  

Medical Payments

2,000.00

     
  

Comprehensive

A/C/V

     
  

Collision

100.00 Ded.

     

Home Insurance Company

Schedule Property:

387.67

3 yrs.

25.00

  

Victor Adding Machine

        
  

Victor Adding Machine

        

Maryland Casualty

Fidelity Bond

        
  

S. Richard Sims

10,000.00

1 yr.

56.00

ARKANSAS BURIAL ASSOCIATION BOARD

BALANCE SHEET

DECEMBER 31, 1969 AND 1968

  

December 31,

Increase (Decrease)

ASSETS

1969

1968

CURRENT ASSETS

        

Cash in bank - checking account

$ 538

$ 280

$ 258

INVESTMENTS

        

Commonwealth Federal Savings & Loan

10,000

10,000

.

Pulaski Federal Savings & Loan

5,000

5,000

-

First Federal Savings & Loan

10,000

10,000

-

Union National Bank - savings account

7,512

6,009

1,503

TOTAL INVESTMENTS

32,512

31,009

1,503

FIXED ASSETS

        

Automobiles

5,145

6,090

(945)

Office furniture and equipment

5,710

5,918

(208)

TOTAL FIXED ASSETS

10,855

12,008

(1,153)

TOTAL ASSETS

$ 43,905

$43,297

$ 608

LIABILITIES AND SURPLUS

        

LIABILITIES

        

Employees Federal and State income tax payable

-

317

(317)

Deferred credit - agents and licenses fees

45

250

(205)

TOTAL LIABILITIES

45

567

(522)

SURPLUS

        

Balance, beginning of year

42,730

41,753

977

Add: Excess of income over expense - schedule attached

1,130

977

153

BALANCE, END OF YEAR

43,860

42,730.

1,130

TOTAL LIABILITIES AND SURPLUS

$ 43,905

$ 43,297

$ 608

ARKANSAS BURIAL ASSOCIATION BOARD

STATEMENT OF INCOME AND EXPENSE

FOR THE YEARS ENDED DECEMBER 31. 1969 AND 1968

  

December 31,

Increase

  

1969

1968

(Decrease)

INCOME

        

Annual licenses fees

$ 31,200

$ 31,000

$ 200

Licenses to agents

3,363

3,215

148

Applications and certificates

422

647

(225)

Interest received

2,466

1,537

. 929

Penalties

25

25

-

Certificate of authority

500

-

500

TOTAL INCOME

37,976

36,424

1.552

EXPENSE

        

Salaries - S. R. Sims

9,000

9,000

-

- Diana Huddleston

1,186

-

1,186

- Scottie Wildon

3,542

5,000

(1,458)

- C. E. Moore

7,500

6,500

1,000

Board members expense

2,782

3,260

(478)

Travel - gas and oiL.

985

1,098

(113)

Travel - S. R. Sims

119

492

(373)

- C. E. Moore

1,582

1,472

110

Automobile expense

99

113

(14)

Automobile licenses, taxes and titles

38

33

5

Attorney fees

1,200

1,200

-

Audit fees, board books

165

165

-

Telephone

294

294

-

Rent - office

1,980

1,980

-

Rent - parking

132

120

12

Printing and office supplies

795

731

64.

Dues and subscriptions

40

32

8

Insurance and bonds

483

650

(167)

Contract work - checking death certificates at State Board of Health

800

800

-

Office equipment repairs

156

120

36

Postage

303

326

(23)

Bank service charges

- 9

14

(5)

Payroll taxes

1,307

503

804

Loss on disposal of automobile

2,140

1,544

596

Loss on disposal of office equipment

209

-

209

TOTAL EXPENSE

36,846

35,447

1,399

EXCESS OF INCOME OVER EXPENSE

$ 1.130

$ 977

$ 153

ARKANSAS BURIAL ASSOCIATION BOARD

CHANGES IN FIXED ASSETS

DECEMBER 31, 1969

  

Balance 12/31/68

Additions

Retirement

Balance 12/31/69

AUTOMOBILES

           

2 1969 Plymouth Fury II

  

$ 5,145.88

  

$ 5,145.88

1 1968 Biscayne Chevrolet

$ 3,040.18

  

$ 3,040.18

  

1 1968 Impala Chevrolet

3,049.32

  

3,049.32

  
  

$ 6,089.50

5,145.88

6,089.50

5,145.88

OFFICE FURNITURE AND EQUIPMENT

           

3 Green upholstered chairs

$ 209.61

     

$ 209.61

1 Costurner

20.91

     

20.91

4 Legal size file cabinets

462.68

     

462.68

1 Gray storage cabinet

70.89

     

70.89

5 Drawer victor visable file

60.13

     

60.13

1 Green Typewriter desk

197.88

     

197.88

1 Walnut desk

255.00

     

255.00

1 Revolving arm chair

101.75

     

101.75

2 Side arm chairs

164.73

     

164.73

2 Green storage cabinets

148.01

     

148.01

8 Walnut side chairs '

301.11

     

301.11

1 Glass desk top

16.83

     

16.83

1 Conference table ■

429.01

     

429.01

1 Coat rack

47.43

     

47.43

1 Adding machine carrying case

22.95

     

22.95

1 Walnut typewriter stand

21.32

     

21.32

1 Check protector

113.40

     

113.40

1 Walnut table

204.00

     

204.00

10 Chair cushions

76.50

     

76.50

1 Pair book ends

17.50

     

17.50

1 Legal file

70.00

     

70.00

2 Visable books

37.50

     

37.50

1 Portable folding table

15.30

     

15.30

1 Victor electric adding machine

233.98

     

233.98

1 Upholstered chair

46.80

     

46.80

2 Legal file cabinets

226.70

     

226.70

1 I.B.M. electric typewriter

458.35

     

458.35

1 Victor adding machine

241.95

     

241.95

1 Machine steel desk

229.74

     

. 229.74

1 Argus projector

85.39

     

85.39

1 Puritron

51.45.

     

51.45

1 Victor adding machine

119.03

     

119.03

1 Verifax copying machine

208.73

  

208.73

  

1 Actiraeter for Verifax machine

89.10

     

' 89.10

1 Secretary's chair

94.71

     

94.71

1 Victor adding machine

221.55

     

221.55

1 A. B. Dick mimeograph & stand

546.55

     

546.55

  

5,918.47.

-

208.73

5,709.74

TOTAL

$ 12,007.97

$ 5,145.88

$ 6,298.23

$ 10,855.62

ARKANSAS BURIAL ASSOCIATION BOARD

INSURANCE IN FORCE

DECEMBER 31, 1969

Insurance Company

Coverage

Amount

Term

Premium Paid

Home Insurance Company

Furniture and office equipment

$ 7,500.00

2 years

$ 50.00 '

State Farm Mutual

Automobiles policy

  

1 year

$ 427.00

  

Bodily injury

100/300,000.00

     
  

Property damage

$ 25,000.00

     
  

. Medical payments

$ 2,000.00

     
  

Comprehensive

A/C/V

     
  

Collision

$ 250.00 Deductible

     

Home Insurance Company

Schedule property

Victor adding machine

Electric adding machine

$ 1,512.92

3 years

$ 40.85

Maryland Casualty

Fidelity Bond

S. Richard Sims

  

1 year

$ 56.00

(7/7/1972)

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