Document bBkk2Qr919DmLZLQVkXbgm2V0

PLASTICS COMPANY Mr. J. R. Lawrence, Technical Director The Society of the Plastics Industry, Inc., 355 Lexington Avenue New York, N. Y. 10017 RECEIVED SEP 1976 7 August 25, 19/'S Dear Mr. Lawrence: Wc have analyzed the General. Ledger computer printouts for March, April and May, 1976 (fiscal year fourth quarter for the SPI-VCM/PVC Producers Group) arid the Legal and public relations billings as submitted to me with your letter of August 6, 1976. A summary of expenditures versus revenue received for the entire fiscal year 1975/76 is attached along with a summary of assessments paid. Total assessments for the year amounted to $660,000 of which $623,169.50, or 99.92%, has been paid. Those companies which are in default as of the year--end are as follows: Amount % Paid Outstanding Dow Chemical Great American Chemical Hooker Chemical Keysor-Century Corp. 99.95 75.76 98.22 75-76 $ 35,100.00 912.00 167.50 656.00 $ 36,835.50 Expenditures for the Fourth Quarter amounted to $216,305*90, with legal and public relations expenses accounting for 99*99% and 99.13% of this total, respectively. Year to date expenditures amount to $551,585.66, with legal and public relations expenses making up 55*9% and 91.3% of this total. The major portion of these expenses represent staff services of the law firms and the public relations firm. Expen ditures for the four quarters, including the 1979-75 deficit carryover, amount to 88.8% of the budgeted assessment income and to 93*5% of the total actual income for the year. Please continue to send to me copies of all Minutes as well as copies of all legal and public relations billings for review with the general ledger computer printouts. 6 Very truly yours, RKJ:MEB:mhn Attachments (2) cc: Mr. T. C. Walker '2 VC R. K. Johnson Controller FIRESTONE PLASTICS COMPANY . DIVISION OF THE FIRESTONE TIRE A RUBBER COMPANY BOX 699. FIRESTONE BOULEVARD, P0TTST0WN, PENNSYLVANIA 19464 GENC 011064 SIM v< m x i*v( producers (,it()tii min m i-UAurKU ammuii i-mmai. year summaries Rfr.VENUE : Totnl Assessments - 6--1--75/ 3-31-76 Total Paid Thru 5-31-76 Balance to be collected Income from Sale of Literature 5660,000.00 623,164. 50 $ 36,835.50 100.00% 94. 42% 5.58% 5623,164.50 3,048. L 2 TOTAL REVENUE 5626,212.62 EXPENSES: Deficit Carryover from 1974/75 (net) Current Year Expenses: Legal Expense Public Relations Meeting Exp.(Inc.Trav.) Office Supplies & Expense Telephone & Telegraph Sub-Total $308,472.49 227,794.19 10,543.69 4,076.91 698.38 55-92% 41.30 1.91 .74 .13 100.00% $ 34,196.59 $551,58 6 TOTAL EXPENSE $585,782.25 Net Operating Funds as of 5/31/76 Plus: Assessments Still Due TOTAL FUNDS WHICH SHOULD BE AVAILABLE FOR CARRYOVER TO 1976/77 $ 40,430.37 36,835.50 5 77,265.87 8/25/76 GENC 011065 990^ COMPANY Air Products & Chemicals Allied Chemical 11. F . Goodrich Borden Chemical Certain-Teed Products Continenta1 Oil Co. Diamond Shamrock Dow Chemical Ethyl Corp. Firestone Plastics General Tire & Rubber Goodyear Tire & Rubber Great American Chemical Hooker Chemical Kevsor-Century Corp. Pantasote Co. of N.Y. P.P.G. Industries Ilobintech, Inc. Shell Chemical Co. Stauffer Chemical Tenneco, Inc . Union Carbide Uniroyal (Uni-Chem) TOTALS THE SOCIETY OF THE PLASTICS INDUSTRY, INC. VCM & PVC PRODUCERS GROUP ASSESSMENT INCOME ANALYSIS BASED ON TOTAL ASSESSMENT OF 3660,000 TOTAL ASSESSMENT 5 10,758 16,170 108,174 26,928 9,9 38 60,852 30,162 69,932 33,132 21,516 6,732 19,789 3,762 9, 9 38 2,706 8,052 98,999 19,9o9 82,896 25,806 2 5,5 9 2 19 , 909 6,^68 PAYMENTS FIRST THREE QUARTERS $ 6,683 16,170 108,17^ 26,928 9,^38 60,852 30,162 39,332 33,132 21,516 6,732 9,189 2,850 9,270. 50 2,050 8,052 98,999 19,909 82,896 25,806 25,592 12,059 6,968 PAYMENTS FOURTH QTR. 5 9,075 - 5,600 - - - 7,350 - S660,000 5606,139. 50 517,025 8/25/76 TOTAL PAYMENTS > 10,758 L 6,170 108,179 26,928 9,938 60,852 30,162 39,332 33,132 21,516 6,732 19,789 2,850 9,270. 50 2,050 8,052 98,999 19,909 82,896 25,806 25,592 19,909 6,968 S623,l69. 50 i ) % PAID 100.00 LOO.00 100.00 100.00 100.00 100.00 100.00 99.95 100.00 100.00 100.00 100.00 75.76 98.22 75.76 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.92 The Society of the Plastics Industry, Inc. VCM f. PVC PRODUCERS CROUP EXPENDITURES 6 REVENUE June 1, 1975 Thru February 29, 1976 EXPENDITURES Legal Expenses: Total (Keller & Heckman) 1st Qtr. June,July.Aug. $ 48,879.25 Public Relations Expense (Hill & Knowlton) Meeting Expense(Incl. Travel)_ Office Supplies ft Expense___ ... Telephone ft Telegraph____________ 14,440.61 3,710.36 43.84 Contingency I* Total Expenditures $67j02j^06 REVENUE Assessments(Listing by company attached) Meetings-(Non-Producer Group Members) Income from Sale of Literature Total Revenue 147,166.00 784.08 j_147\950.08 BALANCE - As of 2/29/76 LESS: DEFICIT CARRIED FORWARD FROM 5/31/75______________ BALANCE-YEAR-TO-DATE(6/1/75-2/29/76) ASSrSi>MftTS TOTAL fun:*s available r- ,tt- u'.'.V 1 r. 2nd Qtr, Seot.Oct.Nov. $ 45,736.36 3rd Qtr. Dec.Jan.Feb, $ 105,329.71 Year-to-date Junu-Feb, $ 200,445.32 Budget Thru 3/31/76 $ 269,103.00 49,414.33 K MS- Y-5 1,571.-55^ _ 437.54___. 84.00 v -- $ 97,243.78 57,665.41 4,014.20 3,313.95 464.25 -- $ 171,287.52 121,520.35 g yio.-Si 9,296.11-) ) 3,751.49 ) ) 592.09 ) -- $ 335,605.36 334;G 201.644.00 15,087.00 142,186.13 $ 626,020.13 Ao 6,3.>U . oo ((r) 210,808.00 252,732.50 -325- 60 k) 873.14 $ 212,006.74 .. 1.145.90 $ 253,378.40 .- Le 6, <3j. So 610; 7 3 6.50 -321^60 ^ S'.* u 2,773.12 $ 61 3,835.22 :.,c- $ 278,229.86 ^73, 3, 38,763.59 1 $ 239,466.27- 52.941i.50^Jf'6e.5o $ -29-2r4 t4r77- 1-- T' ^? 7 6ENC 011067