# HON. TREASURER'S REPORT
Mr. President, Ladies & Gentlemen,
You have in your hands the Income & Expenditure Account and Balance Sheet of the Society covering last year's work. You will note that there appears to be a very handsome profit of $8,000 last year. This is an illusion as we have to pay for last year's Journal which has not yet come out. I estimate it will cost at least $7,000. Allowing for this, we have covered expenses comfortably but only by drawing on the income from Investments. Lecture receipts is a peculiar item. This represents the money received in respect of the symposium visits to villages, etc. and was all paid out in respect thereof.
I would like to thank all Members who have responded to the circular of 12th February I sent out regarding dues. There seems to be some doubt as to when the dues should be paid. The answer, according to Rule 7, is that they should be paid at the beginning of the year. However, the Council feels it is only right, on the one hand, that New Members who paid and joined in November or later should not be asked to pay further dues until fourteen months have elapsed. On the other, membership does not become suspended until the end of June for those who have not paid at the beginning of the year. They become active members again in accordance with Rule 7 if subscription is paid within 2 years of its becoming due.
Handling the subscriptions is a fairly arduous job and it is proposed that next year a receipt will not be issued and the membership card for the year in the case of annual members – will be notification that the subscription has been received. This will cut down the work of the Treasurer and also avoid the occasional odd situation where a Member has sent in a subscription on receiving a receipt.