Report of the Treasurer to the Council 1995-1996 (1996) / Chapter Skim
Currently Skimming:
Explanatory Notes to the Financial Statements
Explanatory Notes to the Financial Statements
Pages 36-44
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From page 36... ...
To enable it to respond effectively to both the disciplinary concerns of the research community and the complex interdisciplinary problems facing American Society, the National Research Council is organized into ten major units, which are responsible for most study activitiesCommission on Behavioral and Social Sciences and Education; Commission on Engineering and Technical Systems; Commission on Geosciences, Environment, and Resources; Commission on Life Sciences; Commission on Physical Sciences, Mathematics and Applications; Office of International Affairs; Office of Scientific and Engineering Personnel; Board on Agriculture; Transportation Research Board; Center for Science, Mathematics, and Engineering Education. The financial activity and results of the National Research Council are included in the NAS's financial statements (see Exhibits A, B
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From page 37... ...
Temporarily Permanently Unrestricted Restricted Restricted Totals Fund balances as July 1, 1995 as previously reported: General funds Private programs funds Endowment and trust funds Net assets as of July 1, 1995 as restated Contributions $ 24,341 24,341 11,461 1,969 13,430 36,023 22,475 69,766 128,264 $ 71,825 $24,444 $69,766 $166,035 Contributions' including unconditional promises to give' are recognized as revenues in the period received. Conditional promises to give are not recognized until the conditions on which they depend are substantially met.
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From page 38... ...
Use of Estimates The preparation of these financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions. These estimates and assumptions may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements.
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From page 39... ...
of the Internal Revenue Code. The investing vehicles under this voluntary plan are retirement annuity contracts issued by TIAA/CREF and mutual funds offered by the Vanguard Group, Inc.
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The accrued postretirement benefit obligation is reported as accrued employee benefits on the statement of financial position. The post-retirement benefit cost for 1996 includes the following components.
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From page 41... ...
Scientific and Engineering Personnel Transportation Research Board Institute of Medicine Engineering and Technical Systems Behavioral and Social Sciences and Education Geosciences, Environment & Resources Physical Sciences, Math & Applications International Affairs Commission on Life Sciences Science, Mathematics & Engineering Education Policy Division National Sciences Resource Center National Academy of Engineering Board on Agriculture Other Strategic Highway Research Program Total up 50,193 40,874 14,127 11,012 10,381 10,054 9,879 8,026 7,020 3,644 3,275 2,816 2,082 994 907 236 $ 175,520 NOTE 10: INDIRECT COSTS The NAS received fixed indirect rates for fiscal year 1996. The overhead rate was 63.0% and the general and administrative (G & A)
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From page 42... ...
The income generated by these assets is to be used to support donor-specified programs or general activities of the NAS. As of June 30, 1996, the NAS held the following permanently restricted net assets, classified by the purpose for which the income is to be used.
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From page 43... ...
Graham, Chair Ellis B Cowling Marye Ann Fox Jack Halpern David M
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