ANNUAL REPORTS The Honorary Auditor's Financial Report December 31, 1981 and 1980 We hav~ examined the statements of assets and liabilities of the Siam Society (Under Royal Patronage) as at December 31, 1981 and 1980 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 depreciation. 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, 1981 and 1980 and its revenues and expenses for tbe years then ended, applied on a consistent basis. YUKTA NA THALANG C.P.A. (THAILAND) Registration No. 1 March 9, 1982 THE SIAM SOCIETY STATEMENTS OF ASSJ ns AND LIABILITIES AS AT DECEMBER : 31, 1981 AND 1980 ASSETS LIABILITY AND FUNDS In Baht In Baht 1981 1980 1981 ·J980 CURRENT LIABILITY CURRENT ASSETS Dues collected in ad vance 49,364.50 41,280.98 Cash on hand and in banks 168,353.40 136,839.92 FUNDS Temporary investments 5,778,985.50 5,220,199.20 Endowment fund : Publications for sale 368,176.70 344,114.84 Thai Government 2,0~0,000.00 2,000,000.00 . Other current asset 48,000.00 48,000.00 Members' contribution 323,395.57 323,395.57 Total Current Assets 6,363,515.60 5, 749,153.96 Life membership fund 915,923.16 797,144.95 Revolving fund 101,675.00 101,675.00 PROPERTY AND EQUIPMENT-At Kamthieng Memorial fund 63,519.25 60,914.00 Cost or assigned value Jess Staff welfare fund 44,435.00 44,435.00 accumulated depreciation (Note) Edwin F. Stanton fund 51,062.47 22,608.47 Land 1.00 1.00 Carlsberg Foundation fund 10,205.25 10,205.25 Buildings 3.00 3.00 F.t:iends of Society fund 4,000.00 4,000.00 Furniture, fixtures and office 3,514,215.70 3,364,378.24 equipment . 906,916.56 992,149.94 Accumulated excess of revenues Transportation equipment 4,168.40 6.252.60 over expenditures Total 911,088.96 998,406.54 Balance, beginning of year 3,341,901.28 2,133,063.95 Excess of revenues over expenditures for the year 369,123.08 1,208,837.33 Balance, end of year 3, 711,024.36 3,341,901.28 . Total Funds 7,225,240.06 6,706,279.52 TOTAL ASSETS 7,274.604.56 6,747.560.50 TOTAL LIABILITY AND FUNDS 7,274,604.56 6,747,560.50 See accompanying Note ~ to Financial Statements. (With Mr. Yukta na Thalang'\ i report dated March 9, 1982) L- THE SIAM SOCIETY STATEMENTS OF REVENUES AND EXPENSES FOR THE YEARS ENDED DECEMBER 31, 1981 AND 1980 In Baht 1981 1980 REVENUES Interest income 893,444.02 1,056,554.23 Members' dues and fees 471,425.36 410,457.94 Sales of publications 243,620.50 387,766.02 Donation from : - John F Kennedy Foundation 100,000.00 - H.R.H. Princess Marayart Diskul 3,000.00 Contribution from members on the 75th Anniversary of the Society 1,278,523.83 Others-net 398,885.00 447,862.53 Total Revenues 2,010,374.88 3,681,164.55 EXPENSES Salaries and bonuses 410,198.00 377,100.00 Travel and transportation 320,749.50 301,653.50 Cost of.publications 282,101.64 657,718.08 Depreciation 138,422.86 101,223.82 Electricity and water 133,650.74 63,608.75 Dues and subscriptions 74,256.32 75,137.83 Stationery and printing 71,020.25 73,730.00 Postage, telephone and telegram 67,300.00 90,172.00 Repairs and maintenance 29,265.50 494,607.40 Provident funds 27,290.00 Representation and entertainment 24,668.50 35,316.50 Medical Expenses 9,590.00 11,359.50 Insurance 7,731.74 7,398.99 Parking lot 67,320.00 Medallions and boxes 45,569.00 Miscellaneous 45,006.75 70,411.85 Total Expenses 1,641,251.80 2,472,327.22 EXCESS OF REVENUES OVER EXPENSES 369,123.08 1,208,837.33 See accompanying Note to Financial Statements. (With Mr. Yukta na Thalang's report dated March 9, 1982) THE SIAM SOCIETY NOTE TO FINANCIAL STATEMENTS DECEMBER 31, 1981 AND 1980 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 138,422.86 in 1981 and Baht 101,224 in 1980. 188 Minutes of the Annual General Meeting of the Siam Society, Under Royal Patronage I 3 I Soi Asoke, Sukhumvit Road, Bangkok Thursday, 26 March 1981 The Annual General Meeting terminating the Council year 1980/81 was held on Thursday, 26 March 1981 at the Society's Home, and commenced at 8.15 p.m. The meeting was attended by 69 members. The following members of the outgoing Council were present. President H.S.H. Prince Subhadradis Diskul Vice-President & Honorary Treasurer M.R. Patanachai Jayant Vice-President & Leader of the Natural History Section Dr. Tem Smitinand Vice-President Mr. Vivadh na Pombejra Honorary Secretary Mrs. Nongyao Narumit Honorary Editor Mr. Kim Atkinson Mrs. Katherine Buri Mr. Francis W.C. Martin Mr. Henri Pagau-Clarac Dr. Tej Bunnag Mr. Sirichai Narumit Mr. Dacre Raikes Mrs. Sonia Krug 1. The Adoption of the Minutes of the last Annual General Meeting, held on Thursday, 27 March 1980. Since there were no comments, the Minutes were adopted as presented. 2. Presentation of the Annual Report for the Council year 1980. Since there were no questions or comments the Annual Report was adopted as presented. 3. Presentation of the Financial Statement for 1980. M.R. Patanachai Jayant, the Honorary Treasurer, presented the Financial Statement for 1980 with the comment that although the statements of Assets and Liabilities showed an increase of more than one ·million baht from 1979 to 1980, this was misleading in that it reflected the contri­ butions received from the Society's Seventy-Fifth Anniversary Fund Raising, but not the amounts spent on air-conditioning the hall and repairing the Library. In actuality the Society spent more than it received in contributions. With this commentary, the Financial Statement was accepted as presented. 189 190 Annual Reports 4. Election of the Honorary Auditor for 1981. The outgoing Council proposed the re-election of Mr. Yukta na Thalang as Honorary Auditor. Mr. Yukta na Thalang was re-elected Honorary Auditor. 5. Election of Honorary Vice-President. The outgoing Council proposed the election of Mom Kobkaew Abhakara na Ayudhya as Honorary Vice-President, in view of her outstanding work on the Society's behalf. Mom Kobkaew Abhakara na Ayudhya was elected Honorary Vice-President. 6. Election of Honorary Member. The outgoing Council proposed the election of Chao Khun Rajvoramuni as Honorary Member. Chao Khun Rajvoramuni was elected Honorary Member. 7. Election of Council for 1981/81. a. H.S.H. Prince Subhadradis Diskul announced he had tendered his resigna­ tion to the Council as he would be abroad for much of the coming year. M.R. Patanachai_,... Jayant was elected President. b. Dr. Tem Smitinand and Mr. Vivadh na Pombejra were re-elected Vice- Presidents and Mr. Sirichai Narumit was elected Vice-President. c. Dr. Chitriya Tingsabadh was elected Honorary Secretary replacing Mrs. Nongyao Narumit who had resigned from the Council. d. Mrs. Katherine Buri was elected Honorary Treasurer. e. Dr. Tej Bunnag was elected Honorary Editor. f. Dr. Soonthorn Kaewlai was elected Honorary Librarian replacing Mrs. Chittra Pranich who had resigned from the Council. g. Office of "Leader of the Natural History Section". This position was to be filled ex-officio. Council members seeking re-election and members proposed as members of the Council were introduced. g. The following were re-elected Ordinary Members of Council: Mr. Kim Atkinson Mr. Henri Pagau-Clarac Mr. Christopher J.A. Chubb Dr. Piriya Krairiksh Mr. Eiichi Hamanishi Mr. Dacre F.A. Raikes Mrs. Sonia Krug Mr. Sulak Sivaraksa Mr. Francis W.C. Martin h. The following were elected Ordinary Members of Council: Dr. Somboon Suksamran Dr. Thosaporn Wongratana Mr. Michael Wright Dr. Warren R. Brockelman Mrs. Virginia Di Crocco Mr. William Sage Annual Reports 191 8.. Any other business. a. Mr. Francis W.C. Martin read the Council's recommended changes to Rules 7, 8, 9, 13, and 32 as follows: Rule 7 : Members of the Society shall be of four categories-Ordinary, Hono­ rary, Corresponding and Student. Both ladies and gentlemen shall be eligible for membership of the Society. Rule 8 : Candidates for ordinary and student membership shall be proposed by a member of the Sociely, and shall be put up for election at a Meeting of the Council.