UIU-USA - ATLANTA 2008 CONVENTION ACCOUNT

UIU (NEC) DECISION ON PROCEEDS OF NATIONAL CONVENTION-ATLANTA

Based on the national executive teleconference meeting on September 21, 2008, the following decisions were reached regarding the proceeds of Atlanta Convention;
That the approved budget for the convention was $8, 500.00
That the convention expenses of $10,753.67, exceeds approved NEC budget ($2,253.00).
That the proceeds of the convention on either side is to be channeled to Umuoji Boys Project or similar activity that will benefit our people.
That the sharing of proceeds between UIU National and the Atlanta branch should
be done in two parts. The cash at hand $12,161.00 is to be shared on 60/40 basis.
That the receivables (pledges and brochures) of $6,300.00 is also to be shared on 60/40 as pledges are redeemed.

Based on the above decisions, the Convention account should read as follows;
§ Gross Convention Receipts --------------------------------------------- $26, 961.00
§ Less Budget ------------------------------------------------------------($8, 500)
§ Net Receipt ----------------------------------------------------------- $18, 461.00
§ Less Receivables (pledges $5, 900/brochure $400) -------------------- ($6, 300)
§ Cash at hand -----------------------------------------------------------$12, 161.00
§ 60% UIU – National ------------------------------------------------- --$7, 296.00
§ 40% UIU – Atlanta branch --------------------------------------------- $4, 864.00
§ Receivables ------------------------------------------------------------$6, 300.00
§ 60% UIU – National ----------------------------------------------------$3,780.00
§ 40% UIU – Atlanta ----------------------------------------------------$2,520.00

CHECKS RECEIVED FROM ATLANTA BRANCH SOFAR.
· Check # 1031 ( August 18, 2008) ---------------------------------------$5,000.00
· Check # 1035 (September 19, 2008) -----------------------------------$3,424.40
· Total ------------------------------------------------------------------ $ 8, 424.40
· Less SEED MONEY ---------------------------------------------------- ($5, 500)
· Net -------------------------------------------------------------------- $2, 924.40

OUTSTANDING CASH BALANCE FROM ATLANTA BRANCH
§ 60%(Cash) UIU – National ----------------------------------------- $7, 296.00
§ Less balance of checks ---------------------------------------------- $2, 924.40
§ Expected outstanding CASH balance from Atlanta branch--$4, 371. 60

OUTSTANDING RECEIVABLES FOR UIU – NATIONAL
§ 60% (Receivables) UIU – National -------------------------------$3, 780.00
§ Total balance of cash and receivables due UIU-National-----------$8, 151. 60

Dr. Chibeze C. Nkemeh, UIU-National Treasurer.