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Financial Report
Fiscal Year Ended 9/30/97Operating Results by Function
FUNCTION
INCOME
EXPENSE
DIFFERENCE
_____________________________________________________________________________________ Membership Services
$905,695 (a)
$959,541
($53,846)
Seminars
1,084,652
838,519
246,133
Meetings
542,727
529,566
13,161
Exams
2,395,668 (b)
2,246,261 (b)
149,407
Publications
68,378
39,051
29,327
TOTAL:
$4,997,120
$4,612,938
$384,182 (c)
NOTES: (a) Includes income of $15,112 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
09/30/96
09/30/97
DIFFERENCE
Checking Accounts
$149,550
$237,098
$87,548
T-Bills/Notes
2,595,152
2,922,852
327,700
Accrued Interest
45,728
49,875
4,147
Prepaid Expenses
28,405
31,798
3,393
Prepaid Insurance
8,256
11,467
3,211
Accounts Receivable
8,555
13,782
5,227
Textbook Inventory
0
14,435
14,435
Computers, Furniture
253,266
270,717
17,451
Less: Accumulated Depreciation
(199,649)
(223,531)
(23,882)
TOTAL ASSETS
$2,889,263
$3,328,492
$439,230
LIABILITIES
09/30/96
09/30/97
DIFFERENCE
Exam Fees Deferred
$328,948
$338,649
$9,701
Annual Meeting Fees Deferred
62,675
52,860
(9,815)
Seminar Fees Deferred
67,376
21,106
(46,270)
Accounts Payable and Accrued Expenses
269,427
372,617
103,190
Deferred Rent
33,407
21,744
(11,663)
Accrued Pension
45,692
44,835
(857)
TOTAL LIABILITIES
$807,525
$851,811
$44,286
MEMBERS’ EQUITY
Unrestricted09/30/96
09/30/97
DIFFERENCE
CAS Surplus
$1,766,753
$2,150,935
$384,182
Michelbacher Fund
94,856
98,425
3,569
Dorweiler Fund
4,371
3,591
(780)
CAS Trust
3,641
18,825
15,184
Research Fund
185,404
154,207
(31,197)
ASTIN Fund
6,000
31,550
25,550
Subtotal Unrestricted
$2,061,025
$2,457,533
$396,508
Temporarily Restricted
Scholarship Fund
$7,182
$7,042
($140)
Rodermund Fund
13,531
12,106
(1,425)
Subtotal Restricted
20,713
19,148
(1,565)
TOTAL EQUITY
$2,081,738
$2,476,681
394,943
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: Regina M. Berens, Chairperson; Anthony J. Grippa, David N. Hafling, and William M. Rowland.