1. SVAS Financial Report Fiscal Year 1/1/2005-12/31/2005 Kirk Alexander April 16, 2006

2. Income Dues11050 Donations 4576 Sales 612 Misc 437 Raffle 1915 Total Income18590 Expenses Observatory & Scopes 2945 Newsletter 3816 Insurance 895 Utilities 1457 Events 3711 Other (Office, PO Box,Internet, Misc) 2091 Total Expense14915 Net Income 3675

3. Balances 2006 Checking January $13,016.05April$11,538.27 Savings January $19,098.40April$19,344.85 Anderson/Killick CD $19,594.63 Smyth Award $26,324.72

4. Bank Account Signatures Current Status –Checking co-signers now = Kirk, Doug, Josh –Savings co-signers now = Kirk, Keith Mullen –2 Certificate of Deposit signers = Cary and Keith Mullen Next Steps –Add Ross as signer on Checking and Savings. –Should also add Doug or other as a co-signer on Savings –Add Kirk/Ross to CD signer –Ross can have a checking account atm card if he wishes once he is added as an officer/signer.

5. CD Status CD's term of maturity is actually April 30, 2006 after which there is a 7 day grace period to renew or deposit into an account before they automatically roll over. To remove a name from the CD requires cashing in the CD and getting a new one so now is the time to do this if we wish. I think this takes Board Approval or at least exposure since these are the time account/scholarship funds we have been carrying.