PCS Financial Reports 2003 - Tom Driscoll 2002 - Arun Mahajan 2002 - Scree Rate Increase 2001 - Scott Kreider 2000 - Bill Kirkpatrick 1999 - Dee Booth 1998 - Nancy Fitzsimmons 1997 - George Van Gorden 1996 - Jim Ramaker 1995 - Phyllis Olrich 1994 - Bob Suzuki 1993 - Brian Boyle 1992 - Charles Schafer 1991 - Debbie Benham 1990 - Dinesh Desai

1990 Treasurer's Report

The PCS Balance Sheet is healthier now than it was at the beginning of the year. This is due to several reasons. In March, the annual subscription fee was raised from $8 to $10. The average issue of Scree has 7.17 pages during 1990 versus 8.5 pages during 1989 resulting in a decrease of about $125 in printing costs. Also, the free mailing of Scree beyond subscription expiration date was discontinued. This resulted in savings of approximately another $125. Wells Fargo Bank also waived its charges ($72 per year) during 1990.

All of the above factors combined to show an increase in assets during 1990 of $431.90 versus a boss of $186.66 during 1989. However, to determine the true financial health of PCS, it is necessary to determine its liabilities too; otherwise, as in the example where 50 new members sign up in December, assets would increase by 4500 without any real increase in the net worth of the organization. To my knowledge, this kind of analysis has not been done in the past with the result that it was impossible to know whether the PCS had enough money to purchase a needed item, such as a projection screen.

The SEC or the American Society of Accountants may not agree but a quick and reasonably accurate method is to assume that the PCS disbands as of the end of the year and returns pro- rata share of unused subscription to members. Such an analysis shows a required return of $1080 leaving the PCS with a net worth of about $239. If a similar analysis at the end of 1991 should show a significant decrease in the net worth, then a dues increase should be considered in 1992.

- Dinesh Desai

Balance Sheet

December 31, 1990

Assets:
  Wells Fargo checking account balance...........$1319.36

Liabilities:
  Number of members...........188
  Average refund owed.........$5.7447
  Total refund owed..............................$1080.00

Net Worth........................................ $239.36