UA-R-GC-1914-01-01-1967-01-05_Page-032

B. U.S.A. STATEMENTS - Continued Exeenses - Exelanatlons Actual Estimated Budget for 1966/67 911/66- 12/1/66- 11130/66 8/31/67 1966/67 Pre 1 im. Revi sed New York Office Salaries and Benefits 8,017 41,983 50,000 50,000 Retirement 1,025 3,975 5,000 5,000 Travel and Hospitality 1,639 8,361 10,000 No 10,000 Audi t 6,000 6,000 6,000 Legal 1,262 1,.238 2,500 2,500 Commissions 597 2,603 3,200 detai 15 3,200 Office Expenses 2,004 8,496 10,500 10,500 Rent 2,451 7,549 10,000 10,000 Furniture and Equipment 374 1,926 2,300 avail- 2,300 Interest on Loan 9,375 28,125 37,500 37,500 Special Printing 5,000 5,000 5,000 Trustees' Expenses 209 1,791 2,000 able 2,000 NECA' s Services 7,500 15,500 23,000 23,000 Fund Raising Survey Expenses 2,500 2,500 2,500 34,453 135,047 169,500 169,500 Salaries and Benefits are based on actual expenses for 1965/66, increased for the salary of Assistant Treasurer and one clerk for 7 months. This represents an increase of $8,000 in comparison with the 1965/66 budget. Retirement. and Travel and Hoseitallty are based on actual expenses for 1965/66 and are almost equal to the 1965/66 budget. Audit is equal to last year1s actual expenses. Legal expenses are based on last year's actual expenses increased for estimated expenses for analysis of Endowment Fund. Office Expenses are based on actual expenses for last year and include supplies ($I,500), telephone and postage ($7,000), insurance ($1,500) and miscellaneous ($500), making a total of $10,500. Total office expenses and rent are pro­posed in the amount of $20,000 compared with last year1s budget of $17,000, or $3,500 more. Interest on loan Is estimated at the rate of 6% of the amount of $622,000, or $12,500 higher than last year1s budget. If the loan is reduced the interest charges will be decreased accordingly • • 9