ANNUAL REPORTS .The Houorary Auditor's Fioaucial Report December 31, 1982 and 1981 We have examined the statements .of assets and liabilities of the Siam Society (Under Royal Patronage) as at December 31, 1982 and 1981 and the related statements of revenues and expenditures 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 statemetlts 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 described in the preceding paragraph, the assets and liabilities of the Siam Society (Under Royal Patronage) at Dece~ber 31, 1982 and 1981 and its revenues and expendi­ tures for the years then ended, applied on a consistent basis. YUKTA NA THALANG C.P.A. (THAILAND) Registration No. 1 March 18, 1983 THE s:IAM SOCIETY STATEMENTS OF ASSETS AND LIABILITIES AS AT DECEl\HBER 31, 1982 AND 1981 ASSETS LIABILITY AND FUNDS ':\ In Baht In Baht I982 198I 1982 1981 CURRENT LIABILITY CURRENT ASSETS Dues collected in advance 50,237 49,365 Cash on hand and in banks 301,161 168,35:1 FUNDS Temporary investments 6,573,199 5,778,98(i Endowment fund: Publications for sale 350,190 386,17:' Thai Government 2,000,000 2,000,000 Other current asset 48,000 48,00(~ Members' contribution 323,396 323,396 Total Current Assets 7,272,550 6,363,511! Life membership fund 987,373 915,923 Kamthieng Memorial fund 166,131 63,519 PROPERTY AND EQUIPMENT-At Revolving fund 101,675 101,675 cost or assigned value less Notes on Custom of Cambodia's fund 100,000 accumulated depreciation (Note 1) Edwin F. Stanton fund 47,834 51,063 Land 1 ]. ,. Carlsb!'rg Foundation fund 10,205 10,205 Buildings 3 :' Mr. E.G. Groarke fund 9,400 Furniture, fixtures and office Staff welfare fund (Note 2) 44,435 equipment 862,973 906,9l'j Friends of Society fund 4,000 4,000 Transportation equipment 2,084 4,168 3,750,014 3,514,216 Total 865,061 911,089,: Accumulated excess of revenues over expenditures Balance, beginning of year 3,711,024 3,341,901 Excess of revenues over expenditures for the year 626,336 369,123 Balance, end of year · 4,337,360 3,711,024 Total Funds 8,087,374 7,225,Z40 TOTAL ASSETS 8,137,611 7,274,605 TOTAL LIABILITY AND FUNDS 8,137,611 7,274,605 See accompanying jf\lote to Financial Statements. (With Mr. Yukta na T~ang's report dated March 18, 1983) THE SIAM SOCIETY . STATEMENTS OF REVENUES AND EX.. ENDITURES FOR THE YEARS ENDED DECEMBER 31, 1982 AND 1981 In Baht 1982 1981 REVENUES Interest income 1,135,291 893,444 Members' dues and fees 657,357 471,425 . Sales of publications 233,290 243,621 Donation from H.R.H. Princess Marayart Diskul 3,000 Others-net 441,900 398,885 Total Revenues 2,467,838 2,010,375 EXPBNDJTURES Salaries and bonuses 430,381 410,198 Travel and transportation 352,925 320,749 Cost of publications 244,666 282,102 . Provident funds (Note 2) 197,234 27,290 Electricity and water 134,219 133,651 Depreciation 125,127 138,423 Postage, telephone and telegram 82,749 67,300 Dues and subscriptions 79,342 74,256 Repairs and maintenance 54,726 29,266 Stationery and printing 47,352 71,020 Representation and entertainment 19,562 24,669 Staff. welfare 9,338 9,590 Insurance 9,844 7,732 Miscellaneous 54,037 45,006 Total Expenditures 1,841,502 1,641,252 EXCESS OF REVENUES OVER EXPENDITURES 626,336 369,123 See accompanying Note to Financial Statements. (With Mr. Yukta na Thalang's report dated March 18, 1983) THE SIAM SOCIETY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1982 AND 1981 L 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 125,127 in 1982 and Baht 138,423 in 1981. 2. PROVIDENT FUND The Society established a funded providen~ fund covering all full-time emplo­ yees. Contributions to.the fund by both members and the Society are based "on 5% of the employees' basic salaries. Benefits as defined in the plan, are payable upon retirement, death or separation from the Society. The provident fund expenses .during the years are composed of: In Baht 1982 1981 Retroactive adjustment for provident fund expenses for periods prior to January 1, 1981 211,206 Current year's contribution 30,409 27,290 Amount reversed from staff welfare fund (44,435) 197,234 27,290 Minutes of the Annual General Meeting of the Siam Society, Under Royal Patronage 131 Soi Asoke, Sukhumvit Road, Bangkok Thursday, 25 March 1982 The Annual General Meeting terminating the Council year 1981/82 was held on Thursday, 25 March 1982 at the Society's Home, and commenced at 8.00 p.m. The meeting was attended by 61 members. The following members of the outgoing Council were present. President M.R. Patanachai Jayant Vice-President Dr. Tem Smitinand Vice-President Mr. Vivadh na Pombejra Vice-President Mr. Sirichai Narumit Honorary Treasurer Mrs. Katherine Buri Honorary Editor Dr. Tej Bunnag Honorary Secretary Dr. Chitriya Tingsabadh Mr. Francis W.C. Martin Mr. Henri Pagau-Clarac Mr. Dacre Raikes Mrs. Sonia Krug Mrs. Virginia M. Di Crocco Dr. Warren Y, Brockelman Dr. Piriya Krairiksh Mr. Sulak Sivaraksa Dr. Thosaporn Wongratana 1. Adoption of the Min~tes of the last Annual General Meeting held on Thursday, 26 M~rch 1981. No comments were raised and the Minutes were adopted as presented. · 2. Presentation of the Annual Report for the Council year 1980/81. No questions as comments were raised and the Annual Report was adopted as presented. 3. Presentation of the Financial Statement for 1980/81. Mrs. Katherine Buri, the Honorary Treasurer, presented the Financial State­ ment for 1981 and called members' attention to the cost of electricity and which had doubled within one year. Further, another 166,835 baht had to be subtracted for the staff Welfare Fund and the Society also owed 31,564 baht to the author of Yao Design for the publication of a new edition. 267 268 Annual Repor~s A question was raised by Mr. F;G. Groarke who asked that the matter be recorded. He recalled that he had offered a sum of Baht 10,000 to the Society as a contribution to give assistance to Thai students wishing to join the Society. The offer was still open. Mr. Buayporn explained that the matter was raised over a telephone call and there was no letter to confirm the offer. Mr. Groarke said he would confirm his offer in writing. With these comments, the Financial Statement was adopted as presented . .. ,,.· ·., 4. Election of tbe Honorary Auditor for 1982. 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 Correspondiug Members. The outgoing Council proposed the election of Professor Yoneo Ishii and Herr Volkmar von Zuelhsdorff as Corresponding Membel'S. Prof. Ishii and Herr Volkmar von Zuelhsdorff were elected Corresponding Members. 6. Election of Council for 1982/83. a. M.R: Patanachai Jayant was re-elected President. b. Dr. Tem Smitinand, Mr. Vivadh na Pombejra and Mr. Sirichai Narumit were re~elected Vice-Presidents. c. Mrs. Nongyao Narumit was elected Honorary Secretary. d. Mrs. Katherine Buri was re-elected Honorary Treasurer. e. Dr. Chitriya Tingsabadh was elected Honorary Librarian. f. Dr. Tej Bunnag was re-elected Honorary Editor. g. Office of "Leader of the Natural History Section" was filled ex-officio by Dr. Tem Smitinand. Council members seeking re-election and members proposed as Council Members were introduced. h. The following were re-elected Ordinary Members of Council: Dr. Warren Y. Brockelman Mr. Christopher J.A. Chubb Mrs. Virginia M. Di Crocco Dr. Piriya Krairiksh Mr. Henri Pagau-Clarac Mr. Dacre F.A. Raikes Mr. William Sage Mr. Sulak Sivaraksa Dr. Thosaporn Wongratana Annual Reports ~69 The following were elected Ordinary Members of Council: Dr. Richard Engelhardt Mrs. Hillary Feddersen Mr. Saido Ikeya Mr. Wilhelm Mayer H.E. Mr. William F.M. Schmidt Mr. Rolf E. Von Bueren 7. Any other business. a. Mr. Francis W.C. Martin read the Council's recommended change to Rule 9. "9. The Annual Subscription for Ordinary Members shall be 800 baht". There was a discussion during which Dr. Tej Bunnag pointed out that the financial position of the Society had been far from satisfactory in 1981 and had in fact been in difficulties for a number of years. A revisio~ was made in 1981 to retain the Baht 500 fee for Ordinary Members while Ordinary Members who would like to subscribe to the Journal and the Natural HistOry Bulletin would pay 300 baht and 100 baht extra respectively.