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ANNUAL REPORTS the Honorary Auditor's Financial Report

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ANNUAL REPORTS the Honorary Auditor's Financial Report ANNUAL REPORTS The Honorary Auditor's Financial Report December 31, 1980 and 1979 We have examined the statements of assets and liabilities of the Siam Society (Under Royal Patronage) as at December 31, 1980 and 1979 and the related statements of revenues and expenses for the years then ended. Our examinations were made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The accounts of the Society are maintained and the accompanying financial statements have been prepared on the cash basis, with adjustments to give effect to unsold publications, dues collected in advance and inclusion of provision for deprecia­ tion. In our opinion, the financial statements referred to above present fairly, on the basis indicated in the preceding paragraph, the assets and liabilities of the Siam Society (Under Royal Patronage) at December 31, 1980 and 1979 and its revenues and expenses for the years then ended, applied on a consistent basis. YUKTA NA THALANG C.P.A. (THAILAND) Registration No. 1 February 26, 1981 THE SIAM SOCIETY NOTE TO FINANCIAL STATEMENTS DECEMBER 31, 1980 AND 1979 PROPERTY AND EQUIPMENT The Society has adopted the practice of recording donated properties at nominal values. Because of the nature of the Society's activities, it has not put emphasis on establishing the current values of these properties. In the past, the Society had obtained a valuation for its land which was quoted at Baht 7.2 million. Furniture, fixtures and office equipment are being depreciated by the declining balance method; whereby the depreciation rate of 10% - 20% are being applied on the net book value at the beginning of each year, while the transportation equipment is depreciated by the straight-line method of five years. Depreciation expense amounted to Baht 101,224 in 1980 and Baht 57,461 in 1979. CIETY THE SIAM S< AND LIABILITIES STATEMENTS OF ASSETi 1980 AND 1979 AS AT DECEMBER 31, LIABILITY AND FUNDS ASSETS In Baht In Baht 1980 1979 1980 1979 :URRENT LIABILITY CURRENT ASSETS Dues collected in advance 41,280.98 47,553.11 UNDS Cash on hand and in banks 136,839.92 184,552.57 Endowment fund: Temporary investments 5,220,199.20 4,698,199.20 Publications for sale 344,114.84 319,822.92 Thai Government 2,000,000.00 2,000,000.00 Other current asset 48,000.00 48,000.00 Members' contribution 323,395.57 323,395.57 Total Current Assets 5,749,153.96 5,250,574.69 Life membership fund 797,144.95 726,867.20 Revolving fund 101,675.00 Kamthieng Memorial fund 60,914.00 PROPERTY AND EQUIPMENT -At Staff welfare fund 44,435.00 74,435.00 Cost or assigned value less Edwin F. Stanton fund 22,608.47 22,608.47 accumulated depreciation (Note) Carlsberg Foundation fund 10,205.25 60,205.25 Land 1.00 1.00 Friends of Society fund 4,000.00 Buildings 3.00 3.00 Furniture, fixtures and 3,364,378.24 3,207,511.49 office equipment 992,149.94 129,213.06 Accumulated excess of Transportation equipment 6,252.60 8,336.80 revenues over expenditures Total 998,406.54 137,553.86 Balance, beginning of year 2,133,063.95 2,427,598.53 Excess of revenues over expenditures (deficit) for the year 1,208,837.33 ( 294,534.58) Balance, end of year 3,341,901.28 2,133,063.95 Total Funds 6,706,279.52 5,340,575.44 TOTAL ASSETS 6, 747,560.50 5,388,128.55 OTAL LIABILITY AND FUNDS 6,747,560.50 5,388,128.55 ancial Statements. See accompanying Note to f dated February 26, 1981) (With Mr. Yukta na Thalang's repc THE SIAM SOCIETY STATEMENTS OF ASSET1l AND LIABILITIES AS AT DECEMBER 31 1980 AND 1979 ASSETS LIABILITY AND FUNDS In Baht In Baht 1980 1979 1980 1979 CURRENT LIABILITY CURRENT ASSETS Dues collected in advance 41,280.98 47,553.11 Cash on hand and in banks 136,839.92 184,552.57 FUNDS Temporary investments 5,220,199.20 4,698,199.20 Endowment fund: Publications for sale 344,114.84 319,822.92 Thai Government 2,000,000.00 2,000,000.00 Other current asset 48,000.00 48,000.00 Members' contribution 323,395.57 323,395.57 Total Current Assets 5,749,153.96 5,250,574.69 Life membership fund 797,144.95 726,867.20 Revolving fund 101,675.00 PROPERTY AND EQUIPMENT-At Kamthieng Memorial fund 60,914.00 Cost or assigned value less Staff welfare fund 44,435.00 74,435.00 accumulated depreciation (Note) Edwin F. Stanton fund 22,608.47 22,608.47 Land 1.00 1.00 Carlsberg Foundation fund 10,205.25 60,205.25 Buildings 3.00 3.00 Friends of Society fund 4,000.00 Furniture, fixtures and 3,364,378.24 3,207,511.49 office equipment 992,149.94 129,213.06 Accumulated excess of Transportation equipment 6,252.60 8,336.80 revenues over expenditures Total 998,406.54 137,553.86 Balance, beginning of year 2,133,063.95 2,427,598.53 Excess of revenues over expenditures (deficit) for the year 1,208,837.33 ( 294,534.58) Balance, end of year 3,341,901.28 2,133,063.95 Total Funds 6,706,279.52 5,340,575.44 TOTAL ASSETS 6,747,560.50 5,388,128.55 fOTAL LIABILITY AND FUNDS 6,747,560.50 5,388,128.55 See accompanying Note to Iinancial Statements. (With Mr. Yukta na Thalang's rep,rt dated February 26, 1981) THE SIAM SOCIETY STATEMENTS OF REVENUES AND EXPENSES FOR THE YEARS ENDED DECEMBER 31, 1980 AND 1979 In Baht 1980 1979 REVENUES Contribution from members on the 75th Anniversary of the Society 1,278,523.83 Interest income 1,056,554.23 585,175.63 Members' dues and fees 410,457.94 355,599.46 Sales of publications 387,766.02 17 1,615.57 Donation from John F Kennedy Foundation 100,000.00 Others 447,862.53 331,256.53 Total Revenues 3,681,164.55 1,443,647.19 EXPENSES Cost of publications 657,718.08 334,589.00 Repairs and maintenance 494,607.40 418,949.28 Salaries and bonuses 377,100.00 321,715.00 Travel and transportation 301,653.50 230,761.00 Depreciation 101,223.82 57,461.23 Postage, telephone and telegram 90,172.00 47,258.25 Dues and subscriptions 75,137.83 62,456.51 Stationery and printing 73,730.00 100,321.50 Parking lot 67,320.00 · Electricity and water 63,608.75 30,986.75 Medallions and boxes 45,569.00 Representation and entertainment 35,316.50 18,424.00 Staff welfare 11,359.50 13,504.75 Insurance 7,398.99 8,396.75 Miscellaneous 70,411.85 93,357.75 Total Expenses 2,472,327.22 1,738,181.77 EXCESS OF REVENUES OVER EXPENSES (DEFICIT) 1,208,837.33 ( 294,534.58) See accompanying Note .to Financial Statements. (With Mr. Yukta na Thalang's report dated February 26, 1981) Minutes of the Annual General Meeting of the Siam Society, Under Royal Patronage 131 Soi Asoke, Sukhumvit Road, Bangkok Thursday, 27 March 1980 The Annual General Meeting terminating the Council year 1979/80 was held on Thursday, 27 March 1980 at the Society's Home, and commenced at 8.15 p.m. The Meeting was attended by 55 members. The following members of the outgoing Council were present. President H.S.H. Prince Subhadradis Diskul Vice-President Mr. Vivadh na Pombejra Vice-President & Honorary Treasurer M.R. Patanachai Jayant Vice-President & Leader of the Natural History Section Dr. Tern Smitinand Honorary Secretary Ms. Nisa Sheanakul Honorary Editor Mr. Kim Atkinson Mr. Henri Pagau-Clarac Ms. Katherine Buri Mr. Francis W.C. Martin Ms. Mareile Onodera Dr. Tej Bunnag Mr. Dacre F.A. Raikes 1. Tbe Adoption of the Minutes of tbe Jast Annual Genera] Meeting, held on Thursday, 29. March 1979. Since there were no comments, the Minutes were adopted as presented. 2. Presentation of the Annual Report for the Council Year 1979. Ms. Nisa Sheanakul, the Honorary Secretary, presented an additional report from the Administra­ tion Committee on the rental of the Society's premises during the past Council Year, as follows: - 5 August The hall and grounds were rented by the former "Free Thai" for a dinner party. 21 August The hall and grounds were rented by the American Chamber of Commerce in Thailand for a cocktail party. 17 November The hall was rented by the Morakot group for a perfor- mance of Thai classical music. 30 November to The hall was used by the First National Arts Exhibition 15 December Committee for an art exhibition. 222 Annual Reports 223 21 January The hall and grounds were rented by Turismo Thai Co., Ltd. for a dinner party and performance of music and dance. 26 March The Duang Prateep Foundation held their annual general meeting in the Hall. Presiding over the occasion was Gen. Kriangsak Chomnan, former Prime Minister of Thailand and President of the Foundation. He was shown around the Library and the Kamthieng House, and presented with publications of the Society by the Honorary Secretary on behalf of the Council. Ms. Nisa reminded the meeting that the Hall and grounds of the Siam Society were available for renting. The new air-conditioning system would provide increased comfort, but would necessitate raising of the rental fees.
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