1. ACSDA 10th General Assembly
February 21, 2008
Panama City, Panama
Treasurer's Report
Francis Stenning
Treasurer

2. Table of Contents Budget Execution - 2007
Financial Statements as of
Budget – 2008
2008 Membership Fee Proposal
Executive Committee Proposed Approvals

3. Budget Execution – at the end 31.12.2007

4. Financial Statements as of 12.31.2007

5. Budget – 2008
Assumptions:
a) Annual Fee -To be determined. Should not be less than current fee
Memmbers – 25 – Includes Venezuela, Barbados and Bermuda
Income a x b
Assumes 50% discount for same number of requests as 2007 (8). Although three new members may request diuscount, it is assumed that some CSD currently in the list will not apply, as policy should be more strict.
Part-Time Secretary account was only used in 2007 during 10 months includes US$24,000 plus other possible expenses.

6. 2008 Membership Fee Proposal
History:
Proposal:
Membership fee for 2008
US$ 3,000
Minimum charge of:
US$ 1,500
Discounts in Membership Fee are subject to approval of Executive Committee and according to Approved Policy for that matter.
Year
Membership Fee
Comments
2000
US$ 3,200
US$ 2,000
2005
Minimum
(US$ 500)
2006
(US$ 750)
2007
US$ 3,000
(US$1,200)
2008
(US$1,500)

7. Executive Committee Proposed Agreements
Approve Financial Statements for 2007.
Apply 2007 losses to Capital Account
Approve the Proposed Fee Structure.
Annual Membership Fee US$ 3,000
Minimum charge of US$ 1,500
Approve Budget for 2008.
Approve the use of funds of the Association by the Executive Committee, considering that a minimum cash of US$40,000 must be kept at all times.