XXVI 11 



REPORT OF THE HONORARY TREASURER FOR THE 

 YEAR ENDED 30TH JUNE, 1912. 



In submitting the financial statement for the past year, I beg 

 to report that the Revenue Account for the year, so far as the 

 amount derived from subscriptions is concerned, shows a very 

 considerable improvement, but the expenditure has been much 

 more, owing to there having been a considerable amount paid 

 out for accounts which really belong to the previous financial 

 year. The amount actually received from subscriptions, both 

 current and arrear, has been £598 15s., and had the whole of the 

 members remitted their indebtedness, the balance on the credit 

 side would have been a considerable one. Four hundred and 

 thirty-six members and six Associates have paid the current 

 year's subscription, and £158 has been, received on account of 

 arrears ; this last item is unfortunately only a small amount of 

 the total outstanding, as there is still £394 (subscriptions due to* 

 date) that has not been paid. As a considerable part of this 

 amount is owing by members three and four years in arrear. T 

 do not think that more than £150 of this ca.n be considered 

 recoverable. 



The charges amount includes an amount of £13, the Secre- 

 tary's expenses to Bulawayo. 



The Journal as at present issued is naturally the greatest 

 expense, but the cost is small compared with the average amount 

 spent on the old style of annual volume. 



The printing and postage of the Journal for the past eleven 

 months has cost £232 14s. 3d., and £38 10s. 5d. has been received 

 on account of sales, reprints and advertisements. This prac 

 tically brings down the cost of the Journal to just about £18 

 per month, so far as printing and postage are concerned. 



With regard to the outstandings due by the Association, T 

 have been unable to obtain the account for the June number of 

 the Journal, as it was printed very late in the month. With 

 the exception of this account and the auditor's fee, nothing 

 further is owing, and the amount to come in from advertisements 

 and reprints will almost, if not quite, cover these expenses. 



The Medal Fund, after the payment of this year's grant, 

 stands at £1,416 6s. 3d.. i.e., £40 6s. 5d. more than the original 

 amount. 



The Endowment Fund stands at £1,198, which is all invested 

 except the small amount that is due from the general account 

 for a Fife Member's subscription and three entrance fees (less 

 a small amount of interest in the hands of the Trustees). 



The future financial position of the Society depends very 

 largely upon the regularity with which members pay up their 



