Mycological Society of America December, 1969 Vo1. XX, No. 2

B. SOCIETY BUSINESS: 2969
No formal business meeting was held in 1969 -- see Annual Report: Secretary-Treasurer.
I. ANNUAL REPORT: Secretary-Treasurer
1. Council Business:
The Council of the Society did not meet in 1969. However, since its last meeting at Columbus,
Ohio, in September, 1968, it has taken the following actions by mail:
A. Approved the minutes of the 1968 Council meeting as distributed.
B. Decided that the Society's 1970 annual meeting will be held in conjunction with AIBS's
meeting at Indiana University on 23-29 August 1970.
C. Appropriated an amount not to exceed $1,000.00 for a reception for mycologists attending
the XI International Botanical Congress in Seattle.
D. Elected 112 persons as new Regular Members of the Society.
E. Elected three persons as new Associates of the Society.
F. Approved the transfer of Lee Bonar, L. W.
Emeritus Membership.
Miller, and Marjorie Swift from Regular to
G. Approved the reappointment of Richard P. Korf to the Editorial Board of MYCOLOGIA for a
five-year term 1970-74.
H. Decided that the Society's 1971 annual meeting will be held at the University of Alberta
in late June 1971 in conjunction with the meetings of the Canadian Botanical Society, the
Botanical Society of America, the American Society of Plant Taxonomists, etc.
2.
I. Appropriated $500.00 to support the Foundation Drive Fund of the American Type Culture
Collection during 1970.
Financial report for the fiscal year ending 31 July 1969:
A. Regular funds.
a. Checking account.
Receipts totaled $14,876.53, the major items of which were $12,542.21 from members' dues
and $2,000.00 from redemption of the last of the Society's U.S. Treasury bonds. Disbursements totaled
$16,116.11. The major items of disbursement were $6,485.00 for members' MYCOLOGIA subscriptions, $1500
for support of the XI International Botanical Congress, $912.33 for NEWSLETTER expenses, $1,192.75 for
Secretary-Treasurer's office expenses, and $3,377.30 transferred to the savings account.
account balance at year's end was $821.71, a net decrease of $1,239.58 during the year.
The checking
b. Savings account.
Of the $3,377.30 transferred from the checking account, $2,000.00 was excess operating
funds (added to the Operational Reserve Fund), $25.00 was U.S. Treasury bond interest (added to the
Memoirs Fund), $500.00 was from redemption of U.S. Treasury bonds (added to the Life Membership Fund),
and $852.30 was unappropriated receipts from Sustaining Members' dues ( added to the Research Grants &
Publications Fund). Interest on the savings account, $537.82, was added to the Memoirs Fund. No disbursements
were made from the savings account during the year, and the balance at year's end was
$14,560.69, a net increase of $3,915.12 during the year.
were as follows:
The balances in the various Funds at year's end
Memoirs Fund $4,229.21
Life Membership Fund 1,400.00
Research Grants & Publications Fund 5,331.48
Operational Reserve Fund 3,600.00
c. Summary.
On 31 July 1969, the Society had assets of $15,382.40, the sum of the balances of the
checking and savings accounts, and no liabilities.
31 July.
Net worth was $669.54 higher than on the preceding
B. NSF Funds.
In 1963 the National Science Foundation granted the Society $24,690.00 for preparation of a
m~cology guidebook. On 31 July 1969, $12,625.00 of the total amount had been received from NSF, and the
Society had disbursed $11,927.06.
C. Audit.
A committee consisting of Alfred S. Sussman and Harriet A. Burge has examined the financial
records of the Secretary-Treasurer for the fiscal year and found them to be correct.