Minutes of Recent Board Meetings
North American Alliance of Chemical Engineers
(NAAChE)
Treasurer’s Report – March 2002
Submitted by: Murray R Gray, NAAChE Treasurer 2001
Actions during 2001:
During 2001, a NAAChE bank account was established in New York, under the tax provisions for the AIChE. Signing authority for the account was assigned to the NAAChE President and Treasurer, and a staff member of AIChE. Two signatures are required for payments and withdrawals.
Invoices were sent to CSChE and IMIQ in June 2001 for NAAChE dues for 2000 and 2001. The costs during this period were borne by the AIChE. The current financial position of
NAAChE, as of January 31, 2002, is listed below:
NAAChE Financial Position – January 2002
All amounts in US$
| Funds received in 2001 |
CSChE Dues for 2000 and 2001 |
$3,519.04 |
| Account Balance Jan 2002 |
|
$3,519.04 |
| |
|
|
| Liabilities |
Payment to CSChE for Halifax
Meeting* |
$82.97 |
| |
Payment to AIChE for startup costs |
see note |
| |
|
|
| Receivables |
IMIQ Dues for 2000 and 2002 |
$4,299.77 |
| |
|
|
| |
Balance at January 31, 2002
(Not including payment to AIChE) |
$7,735.84 |
* Estimated expense for bill in the amount of $133.83 (Canadian$) for NAAChE Board Meeting in Halifax |
Recommendations for 2002:
The approved NAAChE budget for 2001 was set at $5000. Pending receipt of the IMIQ dues, I recommend the following:
- Pay the AIChE funds in the amount of approximately $2818 as the net amount repaid for NAAChE startup costs, less the dues to AIChE for 2000 and 2001.
- Establish a regular procedure for determining membership statistics so that dues can be assessed and adjusted for membership in a timely manner.
- Dues for 2002 should be nil, unless the NAAChE Board establishes a spending budget in excess of the funds available in the account.
Respectfully submitted:
M.R. Gray, NAAChE Treasurer (2001)
March 3, 2002
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