XXlll 



REPORT OF THE HONORARY TREASURER FOR THE 

 YEAR ENDED MAY 31st, 1918. 



In handing you the audited financial statements for the year 

 1917-18, I regret to have to draw your attention to the fact that, 

 notwithstanding the special grants amounting to i200, and al- 

 though the ordinary revenue has been higher than last year by 

 £74 i8s. id. (made up of the following: increases, subscriptions, 

 £56 2s. 8d. : interest. £8 15s. 5d. ; Hfe fees, iio), the revenue has 

 fallen short of the expenditure by no less than £122 12s. 46. 



On the expenditure side, printing and stationery is higher 

 by £5 IIS. 5d., due to the general higher costs. Grants under 

 Rule 9 are smaller than they otherwise would have been, owing 

 to an amount of £3 17s. 6d. having been returned by the Maritz- 

 burg centre. The expenses of the Annual Meeting include the 

 amount of £10 los. granted to the Assistant General Secretary; 

 other items are as usual. 



The expenses of the Journal are shown in the balance- 

 sheet, and are sufficiently explanatory. The monthly issues have 

 been brought closed to proper date, only April and May numbers 

 not having been paid for at the end of May. The accounts for 

 these have since come in, amounting together to £65 is. iid., so 

 that the cash balance at the end of June of £92 los. 3d. may be 

 considered as reduced by that amount, leaving £27 8s. 4d. to 

 start the new year clear with. 



As I understand that the Council will frame some new regu- 

 lations re expenditure, I would say that, excluding extraneous 

 donations, the income for the year 1918-19 may be estimated at 

 £725, and the balance as above added makes available for ex- 

 penditure the sum of £752, against which the average ordinary 

 expenses amount to approximately £270, leaving a balance of 

 £482 for Journal expenditure and carrying forward. 



The Endowment Fund now amounts to £1,548, a sum of 

 £60 having been added, and £10 withdrawn. 



The Medal Fund amounts to £1,445 13s. ,8d.. invested at 

 4 per cent. The annual requirements amount to £53, which 

 would be yielded by £1,325. I would suggest that some of the 

 surplus money might with advantage be used for grants in aid 

 of scientific research, as that side of the Society's original pro- 

 gramme has not been given effect to for many years, and our 

 ordinary income does not allow of anything being done in that 

 direction. 



All investments are taken at face value. 



A Walsh, 



Hon. Treasurer. 

 June 20th, 19 1 8. 



