Executive Vice President
Doug Holland [email protected]
Doug Holland 3517 Fernwood Dr. Raleigh, NC 27612 Home: (919) 787-5163 Work: (919) 787-7454
The schedule of Cash and Cash Equivalents contains information regarding the types of items that comprise the cash in the bank. As you can see, the cash amount on December 31, 2006 is $520,495 greater than on December 31, 2005.
All the money earns some type of interest. Checks are covered when presented or transferred from an income-producing account. If you have any questions, call me.
Thought for the day: Optimism may not make everything right, but pessimism ruins everything it touches.
A-B-C: Always Be Courteous. Until later ...
The Academy of Model Aeronautics, Inc.
Schedules of Cash and Cash Equivalents — December 31, 2006 and 2005
2006: $6,497,420 2005: $5,976,925
Cash on hand:
- Petty cash — 2006: $600; 2005: $600
- Cash in registers — 2006: $133; 2005: $133
- Total cash on hand — 2006: $733; 2005: $733
Cash on deposit:
Checking accounts (JP Morgan Chase)
- General overdraft — 2006: ($59,285); 2005: ($103,187)
- Payroll overdraft — 2006: ($2,537); 2005: ($771)
- Site development — 2006: $38,413; 2005: $38,649
- Competition funds escrow — 2006: $79,879; 2005: $79,629
- Total checking accounts — 2006: $56,470; 2005: $14,320
- Depository account (JP Morgan Chase) — 2006: $303,824; 2005: $316,953
Investment accounts:
- JP Morgan Chase — 2006: $512,895; 2005: $180,008
- LPL Financial Services — 2006: $579; 2005: $2,773
- Total investment accounts — 2006: $513,474; 2005: $182,781
Government Obligations Fund:
- JP Morgan Chase — 2006: $5,622,919; 2005: $5,462,138
Total cash and cash equivalents:
- 2006: $6,497,420
- 2005: $5,976,925
Transcribed from original scans by AI. Minor OCR errors may remain.
