REPORT OF THE HONORARY GENERAL TREASURER FOR THE 

 YEAR ENDING MAY 31st, 1922. 



Tlie presentation of tlie balance sheet and statement of revenue and 

 expenditure for the twelve months ending May 31st, 1922, is a much more 

 pleasant task than has been the case with my predecessors in this office 

 of recent years, because this year we are able to show a substantial balance. 



The main considerations which have helped towards this satisfactory 

 position are : — 



(1) Increased revenue from membership fees. 



(2) Increased donations amounting approximately to £600. 



(3) Reduced expenditure on printing the Journal. 



As members are aware, from the 1st July, 1921, the membership fee 

 was increased to £1 10s. Od. and the revenue from this source for the year 

 is almost exactly 50 per cent, more than that obtained last year. This 

 increase has been obtained without any sacrifice of membership. 



The unexpected windfalls to which Mr. Foote referred in his report 

 last year came at a most opportune time, and relieved the Council of 

 considerable financial anxiety. 



A considerable saving is also shown in the cost of printing the Journal, 

 and it was clearly the duty of the Council to accept the most reasonable 

 tender received. Delay in publication of the Joxrrnal is more than com- 

 pensated for by the considerable reduction in expenditure shown under this 

 head. Under these circumstances, the delay in issuing the Journal must 

 be favourably regarded by members, for no Council can reasonably 

 authorise an expenditure on the Journal which is greater than the sum 

 received in membership subscriptions when tenders more in accord with 

 the Association's income are received. 



The principle of praying for fortuitous donations to balance the revenue 

 and expenditure of the Association is not sound. 



We are, therefore, able, after paying over to the Endowment Fund the 

 sum of £131 in respect of life membership fees which had to be withheld 

 for two years, and allowing the sum of £350 for printing parts 3 and 4 

 of the Journal, togetlier with a list of members, to show an excess of 

 revenue over expenditure of £807 Os. lOd. 



This sum after deduction of the deficits shown on the previous two 

 years amounting to £487 2s. 7d. leaves a balance of £319 17s. lid. 



The Association still continues to carry a large number of members 

 who are in arrear with their subscriptions, and for whom it is necessary 

 to make provision to supply copies of the Journal in case they should pufe 

 themselves in good standing with the Association. 



'i'our consideration will be invited to an addition to the Constitution 

 giving power to the Council definitely to strike off the roll the names of 

 such members as are in arrear with tlieir subscriptions for two years, after 

 due notification. 



Owing to the satisfactory financial position it has been possible to 

 make a start in overtaking the arrears in the binding of volumes in the 

 Library, and a further sum of £50 has already been appropriated towards 

 this object for next year. 



3rd Julv, 1922. 



JAS. GRAY. 



Honorary Gvniral Trra^urer. 



