Apologies from the newsletter editor for putting the financial report into
our last newsletter at the wrong resolution. The numbers were barely
readable and some of the text completely unreadable.... so here it all again
as an easy to read email.
Bob McDavitt (Newsletter Editor).

METEOROLOGICAL SOCIETY OF NEW ZEALAND INC.

NOTES TO THE FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 JULY 2005

1. STATEMENT OF ACCOUNTING POLICIES
Accrual accounting is used to match expenses to revenue as appropriate.
There has been no change in accounting policies.

2. SUBSCRIPTIONS
Includes some payments of arrears. Subscriptions in arrears for 2004105 have
not been taken into
account. The amount owing is approximately $450.

3. INTEREST
Interest on SCF and cheque accounts combined under Interest.

4. PETTY CASH
The sum of $200 is held by each of two vice-presidents to be used for
paying.
expenses of branch meetings.

5. CONTINGENT LIABILITIES
Vol 25 of Weather and Climate not yet published. Estimated cost $5,000.

6. TERM INVESTMENTS
Term deposit 02 matures 5/10/05. Deposit 03 matures 9/12/05. Present
instructions are
that these be reinvested.

7. 2006/2007 BUDGET
The net deficit in funds for the 04/05 year was close to budget. Income and
expenditure
for the current year is expected to produce a larger net deficit than that
given in the previous budget estimate because the subscriptions were held at
the present rate. After this year costs should be reduced with only one
journal being produced. A further reduction in costs may result from the
proposed introduction of electronic publishing of the newsletter. Until this
matter is resolved no recommendation is given for subscriptions in
2006-2007. I suggest that any cost savings should be applied across the
board.

C.G.Revell
Treasurer

METEOROLOGICAL SOCIETY OF NEW ZEALAND INCORPORATED
INCOME AND EXPENDITURE STATEMENT FOR 12 MONTHS TO 31 JULY 2005

NOTES THIS YEAR LAST YEAR
$ $
INCOME
Subscriptions 2 9,501 8,466
Interest 3 208 303
Interest on term deposits 1,182 1,414
MetService grant 1,600 1,600
Donations 205
Profit on conference 296
Total Income 12,491 12,284

LESS EXPENDITURE
Weather & Climate 7,764 5,271
Newsletters 4,476 4,999
Meetings 232 45
Royal Society NZ fee 1,430 1,375
Sundry postage, stationery 432
PO Box fee 125 125
Miscellaneous 318 72
Refunds + overpaid subscriptions 25
Student Conference Grants 2,455
Awards Ceremony 465
Travel 500 300
Telephone conferences 469 137
Total Expenditure 15,746 15,269
NET LOSS 3,255 2,986
12,491 12,283

METEOROLOGICAL SOCIETY OF NEW ZEALAND INCORPORATED
BALANCE SHEET AS AT 31 JULY 2005
NOTES THIS YEAR LAST YEAR
$ $
ASSETS
Petty cash. 4 425 625
Current acct 00 - BNZ 5,779 10,740
Term investment 02 - BNZ 6 12,133 11,580
Term investment 03 - BNZ 6 11,094 10,465
Student conf. fund - BNZ 6,206 5,736
Income accrued 1,600 170
Expenditure in advance 563 1,430
Total assets 37,800 40,746

LESS LIABILITIES
Subscriptions received in advance 610 530
Expenditure accrued 230
NET WORTH 36,960 40,216


REPRESENTED BY:
Accumulated Funds:
Balance at beginning of year 40,216 43,202
Less excess of expenditure 3,258 2,986
Total Accumulated Funds 36,960 40,216

This statement of accounts should be read in conjunction with the attached
notes.

Signed on behalf of the Committee
President Kim Dirks
Treasurer C. G. Revell
AUDITOR'S REPORT TO THE MEMBERS OF THE METEOROLOGICAL SOCIETY OF NEW ZEALAND
INC
I have examined the above Balance Sheet and the Statement of Income and
Expenditure together with the financial records of the Society and have
obtained all the information and explanations I have required. In my opinion
the Balance Sheet and the Income and Expenditure Statement give a true and
fair view of the financial position of the Society as at 31 July 2005
A. I. Tomlinson 2-Oct-2005
Auditor to the Meteorological Society of New Zealand Inc.