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<br />REPORT FROM THE TREASURER- Dan Accurti <br /> <br />The past year has been one of change for the office of treasurer. <br />Specifically, the Association for the first time prepared and adopted an <br />operating budget. Consequently, a new set of records was developed to account <br />for all ASFPM expenditures by budget category. <br /> <br />Based upon the budget, a new method of preparing quarterly financial statements <br />was developed. The new report specifies, by budget category, the total dollars <br />appropriated, the amount expended this quarter, the amount expended to date, <br />and the balance available. <br /> <br />Finally, a system of money management was explored to maximize the yield on <br />Association capital. The result was establishing a money market fund with Dean <br />Witter in lieu of a passbook savings account with a bank or savings and loan <br />association. <br /> <br />-14- <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />