|
Sam E. Hilburn, 33°
S.G.I.G. in Texas, Grand Treasurer General of the Supreme Council,
33°
401 W. Texas, Suite 407, Midland, Texas 79701–4426
The Supreme Council approves one million dollars
for disaster relief
related to the World Trade Center and Pentagon disasters.
 To
the Supreme Council: As you are aware, the investment climate
during this biennium has been extremely volatile, creating market
conditions with a high in 1999 to a low in 2001. Income from invested
funds has obviously been materially reduced, but your Finance
Committee is of the opinion that our financial well-being for
the next biennium is assured without a raise in the per capita
assessment.
Regular meetings of the Finance Committee have been
held during the biennium for the purpose of reviewing the objectives
and guidelines of each fund, to monitor investment performance,
and to discuss investment flexibility as necessitated by existing
market conditions. Investment guidelines for each fund have been
under constant study and altered when considered necessary to
cope with market conditions. Money managers handling Supreme Council
funds were present at these meetings to assist in the discussions.
In addition, monthly investment statements of each fund are studied
by the Finance Committee as well as by Supreme Council personnel
in order to keep abreast of market conditions and to determine
that transactions involving purchases, transfers, and withdrawals
within each fund are in conformance with Supreme Council guidelines.
Also the budget expense items are updated monthly.
The budget for the Supreme Council General Fund
which was adopted for this 2000–2001 biennium amounts to
$10,811,000. The budget proposed for the 2002–2003 biennial
amounts to $9,643,500. This is a reduction from the current biennium
budget of $1,162,500 and results from readjustment of certain
line-item costs which were required for this special 200-year
celebration of the Mother Supreme Council. Also the cost related
to the Ritual revision has been eliminated. The estimated net
revenue to the Supreme Council General Fund for the 2002–2003
biennium is $9,700,000, some $57,000 in excess of estimated expenditures.
As of August 31, 2001, the market value of the House
of the Temple Preservation Fund amounts to $11,332,692. We obviously
desire to build the corpus of this fund so that net revenue earnings
will ultimately sustain the needs associated with maintaining
this historic Masonic monument. The market value of the Scottish
Rite Foundation on August 31 this year was $9,829,341.
Brethren, it is the recommendation of your Finance
Committee that the Supreme Council of the Scottish Rite in the
Southern Jurisdiction contribute $1 million to the disaster relief,
which is so necessary after the tragic terrorist attack on New
York City and the Pentagon. One half ($500,000) will be deducted
from the House of the Temple Preservation Foundation, and the
other $500,000 will come from the Scottish Rite Foundation. In
connection with this, we would urge all Valleys and Orients in
the Southern Jurisdiction to contribute to this much-needed disaster
relief.
Your Finance Committee compliments and expresses
appreciation for the outstanding leadership and tireless efforts
of our Sovereign Grand Commander, Ill. C. Fred Kleinknecht, 33o,
to increase the corpus of these two foundations.
We also wish to acknowledge and compliment the efficient
efforts of Ill. William G. Sizemore, 33o, G.C., Grand Executive
Director, for his close supervision of the budgets and for working
closely with this committee throughout this biennium regarding
the status for each line item in the budgets.
All financial records are audited by the firm of
Watkins, Meegan, Drury & Company, L.L.C., Certified Public
Accountants, which also reviews internal central structures and
other operational procedures. The audit reports have been examined
and approved by the Finance Committee.
Brethren, your Finance Committee is proud to serve
this Supreme Council and the Scottish Rite Masons of the Southern
Jurisdiction in this capacity.
Sam E. Hilburn, Chairman
Earl K. Dille
H. Douglas Lemons
Dwight A. Hamilton
John E. Moyers
Committee
|
