During the 1997/98 year the office of treasurer has been a lot busier than it previously had, as the UVic Chapter of the P.E.A. evolved and took on financial responsibilities of its own. A second chapter expense allocation was granted from the Provincial Executive in the amount of $3204.09 in December 1997. With monthly interest accumulating to $10.17 for the year, this bought our yearly income to $5292.52. This income is to provide our Chapter with the ability to fund activities and events that will benefit UVic PEA members without the need to apply for funding from the Provincial body. The head office will still organize and finance all matters pertaining to the day to day running of the association, however.
As you will see from the financial statements we continued to accrue minor printing and computing costs, along with last year's AGM refreshments, in the old FAS account through 31 March 1998. These costs totaled $186.99. As of the 1 April, 1998 the University changed to the new EASY system. The previous costs were not carried forward but remained in an FAS account that was not immediately identified to the undersigned. Hence they still remain as one of our payables. We hosted the CUUE, B.C. meeting in April, held an executive retreat locally at Queenswood House on Arbutus, held a very successful series of seminars this summer, and with other minor expenses our total expenditures from 1 September,1997 amounted to $2725.97. With the outstanding FAS amount, and allowing for cash on hand we have a balance of $2412.80 as of 31 October, 1998. The new chapter executive can also apply for the 1998/99 chapter expense allocation from the Provincial Executive at this time. It should be noted that the Provincial Executive has recently changed the allocation policy such that any chapter may accumulate a total of three years expense allocation allotments.
I have enjoyed my time as Treasurer, but now hand over to the new executive with the Chapter on a sound financial footing. I therefore look forward to bigger and better things in the future.