FINANCIAL ADVISERS

   

 

 

BOULDER, COLORADO
A So
LAWRENCE, KANSAS” F R A F E. R N I 7. y7 AlN, .. A G E. M E N T ORGANIZATION ADVISERS

COLUMBIA, MISSOURI . & A= AUDITS - BUDGETS
LINCOLN, NEBRASKA :@ £ @ LR we + £ D SYSTEMS - SUPPLIES
A et re SOCIAL SECURITY TAX

Financial and Organizati ido sors to. i aternities and Sororities BUILDING ANALYSIS

ESTABLISHED IN 1929 =INS 3

 

  

iy
DIRECTOR y LA
Cc. H. FREEARK

AS CHAS. A. GALLOWAY
KANSAS REPRESENTATIVE

ft ¢

yr John A. Rush,
121 South Hudson Avenue,
Los Angeles, California.

Dear Mr. Rush:

3 I wish to acknowledge receipt of your letter of
December 30 in which you requesved further information in regard
to the financial operations of Phi Kappa Pai, at the University
of Kansas.

 

 

 

 

The Bullding Association budget ealls for income
from the active chapter of $700 per month for nine months, or
$6,500 annually. The following is an itemized schedule of the
estimated budgeted expenditures to be ineurred during the school
year 1959440,

 

First Mortgags-Princeipal $500

Pirst Mortzage-Interest 925

Insurance 220

Purnd & rty Maint 2 900

Furniture & Prope Maintenance

Building Reserve Pund *930

Management Service 400

Bank Note 500

Total $6,500 -

The above figures were set at the beginning of | =
the school year 1959-40. However, aince g up tne original re
budget some changes have been made, é

At the be ing of this school year the mortga
balance was -— and the contract called for a payment of

 

in June 1940, ver, we found that it would be posaible to make i
& principal paynent of $500 on January 1, which was done. ihen I 2
wrote my previous letter, this payments had just been made and . ry

consequently I quoted the mortgage at $16,000, which is actually
- the balance at this writing. The interest accordinly was set up

at $025. f

| The figures for insurance, taxes, and management
service ave fixed and will run very closely to the amounts above,

The balance on the bank note at the beginning of the § A
school year was $500, and we cmtemplate paying that note in full -
during the school year.