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Financial Report
Fiscal Year Ended 9/30/98Operating Results by Function
FUNCTION
INCOME
EXPENSE
DIFFERENCE
_____________________________________________________________________________________ Membership Services
$1,095,602 (a)
$1,056,140
$39,462
Seminars
1,093,604
891,812
201,792
Meetings
681,724
670,797
10,927
Exams
2,509,830 (b)
2,389,915 (b)
119,915
Publications
75,630
38,550
37,080
TOTAL:
$5,456,390
$5,047,214
$409,176 (c)
NOTES: (a) Includes income of $92,348 to adjust marketable securities to market value (SFAS 124).
(b) Includes $1,475,850 of Volunteer Services for income and expense (SFAS 116).
(c) Change in CAS Surplus net of $52,000 of interfund transfers ($50,000 to Research Fund and $2,000 to ASTIN Fund).
_____________________________________________________________________________________ Balance Sheet
ASSETS
09/30/97
09/30/98
DIFFERENCE
Checking Accounts
$237,098
$149,088
($88,010)
T-Bills/Notes
2,922,852
3,436,980
514,128
Accrued Interest
49,875
49,902
27
Prepaid Expenses
31,798
74,072
42,274
Prepaid Insurance
11,467
11,184
(283)
Accounts Receivable
13,782
39,461
26,679
Textbook Inventory
14,435
12,247
(2,188)
Computers, Furniture
270,717
313,752
43,035
Less: Accumulated Depreciation
(223,531)
(254,800)
(31,269)
TOTAL ASSETS
$3,328,493
$3,831,886
$503,394
LIABILITIES
09/30/97
09/30/98
DIFFERENCE
Exam Fees Deferred
$338,649
$388,425
$49,776
Annual Meeting Fees Deferred
52,860
42,246
(10,614)
Seminar Fees Deferred
21,106
61,440
40,334
Accounts Payable and Accrued Expenses
372,617
372,716
99
Deferred Rent
21,744
15,384
(6,360)
Accrued Pension
44,835
38,714
(6,121)
TOTAL LIABILITIES
$851,811
$918,925
$67,114
MEMBERS’ EQUITY
Unrestricted09/30/97
09/30/98
DIFFERENCE
CAS Surplus
$2,150,935
$2,560,111
$409,176
Michelbacher Fund
98,425
102,249
3,824
Dorweiler Fund
3,591
2,771
(820)
CAS Trust
18,825
19,765
940
Research Fund
154,207
166,207
12,000
ASTIN Fund
31,550
43,353
11,803
Subtotal Unrestricted
$2,457,533
$2,894,456
$436,923
Temporarily Restricted
Scholarship Fund
$7,042
$6,895
($147)
Rodermund Fund
12,106
11,611
(495)
Subtotal Restricted
19,148
18,506
(642)
TOTAL EQUITY
$2,476,681
$2,912,962
$436,281
C. Gary Dean, Vice President - Administration
This is to certify that the assets and accounts shown in the above financial
statement have been audited and found to be correct.
CAS Audit Committee: David N. Hafling, Chairperson; Paul Braithwaite, Anthony J. Grippa, and Richard W. Lo