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LEAD INDUSTRIES ASSOCIATION. INC. Accountants' Report
Financial Statements and Schedules December 31. 1970
PEAT, MARWICK, MITCHELL & CO.
CCATIPtCD PUBLIC ACCOUNTANT*
PNYC00001262
N10205
The Board of Directors Lead Industries Association, Inc.:
We have examined the statements of receipts and disbursements and changes in fund balances of Lead Industries Association, Inc. for the year ended December 31, 1970. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
In our opinion, the accompanying statements of receipts and disbursements and changes in fund balances present fairly the recorded cash transactions of Lead Industries Association, Inc. for the year ended December 31, 1970, on a basis consistent with that of the preceding year. The supplementary data included in Schedules 1 and 2 have been subjected to the same auditing procedures and, in our opinion, are stated fairly in all material respects when considered in conjunction with the basic financial statements taken as a whole.
February 9, 1971
PNVC00001263
LEAD INDUSTRIES ASSOCIATION. INC. Statement of Receipts and Disbursements
Year ended December 31, 1970
Receipts: Assessments (note 2): Membership Industrial development
(pig
lead
sales)
Interest on savings bank deposits Reimbursement for publications Miscellaneous
Total receipts
Disbursements: Administrative (Schedule 1) Promotion and development (Schedule 2) Total disbursements Excess of receipts over disbursements
Budget Actual
207,,000 764,,700 971,,700
CO Oh
206,,344 779.,073
,417
5, 000 5,,000
-
981, 700
2,,519 4,,127
1,,185
993,,248
352, 800 601, 600
954, 400
336,,811 647,,335
984, 146
27, 300
9, 102
Notes: (1)
(2)
The Association has a noncontributory pension plan covering all eligible employees. The disbursements for the plan amounted to $16,092 for the year. There are no unfunded prior service costs.
Receipts do not include $9,338 received in 1971 for 1970 assessments.
PH1C000'Q\Zb`*
LEAD INDUSTRIES ASSOCIATION. INC. Statement of Changes in Fund Balances
Year ended December 31, 1970
Fund balances (deficit) at beginning of year
Transfer between funds Excess of receipts over disbursements
Fund balance at end of year
Represented by: Cash: Commercial Savings Petty cash Miscellaneous Deposit
receivable
Operating Fund
Health and Safety Fund
146,908 (6,680) 9,102
149,330
(6,680) 6,680
*
96,660 51,845
100 300 425
149,330
See notes on accompanying statement of receipts and disbursements.
PNYC00001265
LEAD INDUSTRIES ASSOCIATION, INC. Administrative Disbursements Year ended December 31, 1970
Schedule 1
Salaries Payroll taxes Pension premiums Business insurance Group insurance Office rent Travel and expenses Meeting expenses Professional fees Printing and office supplies Telephone and telegrams Postage and express Subscriptions - books and periodicals Furniture and equipment Office services Technical association membership dues Miscellaneous
Budget Actual
$ 217,800 9,000
16,000 1,500 2,500
24,000 40,000
3,000 5,000 6,000 6,000 7,500
800 5,000 7.000
700 1,000
? 352.800
203,658 5,815
16,092 1,570 3,141
24,000 36,203
4,478 4,853 5,362 5.981 10,689 1,032 4.404 7,679
698 1,156
336,811
PNYC00001266
LEAD INDUSTRIES ASSOCIATION, INC. Promotion and Development Disbursements
Schedn1p
Year ended December 31, 1970
Operating Fund:
Publicity program:
Agency fees
Other
Space advertising:
Architectural and construction
Industrial Battery Program
Pigments and chemicals
Product Promotion and Design Engineers
Miscellaneous and production costs
Industrial Battery Program:
Film
Literature
Miscellaneous
Conventions and exhibits:
Plant Engineering and Maintenance Show)
Design Engineering Show
)
National Plumbing Exposition
)
Central Specifications Institute
)
Miscellaneous
)
New publications:
Lead Monograph
Corrosion Handbook
Existing literature expense:
Lead Magazine
Annual Review
Lead Abstracts
"Sweets" Catalog File
Miscellaneous
Reprinting technical articles
Test Programs
Illustrative and photographic expenses
Motion picture - "The Lead Matrix:"
General distribution
U. S. Bureau of Mines
Apprentice contest
Contributions to technical societies:
National Shooting Sports Foundation)
Steel Structure Painting Council )
Electric Vehicle Council
)
Zinc and lead international service
Battery powered airport buses
Study on "off the road electric vehicles"
Health and Safety Program:
Hill and Knowlton - fee
)
Kettering abstracts
)
Hill and Knowlton "T-E-L"
)
"Facts about Lead and Pediatrics")
Childhood Lead Poisoning movie
)
Miscellaneous
)
Contingency - Material from ILZRO
Miscellaneous
Budget Actual
$ 75,000 5.000
75,000 6,98 7
55,900 60,200 19.100 47,200 29.100
58,708 61,146 20,285 44,642 25,460
1.000 1,000 2,000
68 2.043 2,325
15,000
4,521 5.044
715 2,087 1,717
3.000 6.000
540
45.000 2,000
16.000 11,000
3.000 10,000
5.000 1.000
50,209 1,996
14,087 11,233
6,429 11,851
882 2,232
10,500 2,000 1,500
9,554 2,000 1,338
2,900
15,400 13,000
650 1,000 1,000 14,450
7,584
130,800
10,000 3,000
$ 601,600
72,466 18,014 85,973
5,290 200
10.338 7,192 79
647,335
PNYC00001267