Re: [AISdiscuss] Feb. PresMes

[PlankMail@aol.com]

In a message dated 3/1/06 10:56:33 AM, loberg@adelphia.net writes:


> The annual insurance cost shown was only $1,150, which doesn't seem
> to be in line with the current discussion.   Jay did mention something
about
> an umbrella policy, but it is not clear.
>
>
Dear Kitty and all:
     I am sorry more current financial information is not up on the webpage.
 We will exert renewed efforts to get it there soon. (Webmaster Chris is away
on vacation.)
     Regarding the peculiar number for insurance in the April 2005 budget
report cited by Kitty.   The accounting for 2004-2005 was skewed because AIS
had
to pay in full the insurance premium for the 2004-2005 fiscal year which came
due before the 2004-2005 fiscal year began -- worse yet, a refund from the
canceled umbrella policy arrived after the 2004-2005 fiscal year began.
Later
when we dumped that company and contracted a better arrangement, the new
policy
premiums were distributed over the year of coverage so no large premium
payment was paid out in the fiscal year 2004-2005.   The plain fact is --
regardless of how it shows on the books for that one year, and regardless of
the
advantages this years carrier has over our previous carrier -- AIS is taking a
big
hit with insurance costs.
     If my explanation is poor-- I do hope Jill or Michelle will address the
accounting.
     Cheers!
          JEANNE

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