I have the pleasure of presenting to you a report on the financial condition of the American Fern Society, Inc., for the year 2012. Current receipts amounted to $61,214.11. With $4,068.31 in my checking account and $2,537.47 in the Membership Secretary's savings account at the beginning of the year, the grand total of receipts was $67,819.89. Receipts from the dues category amounted to $20,474.11. This figure includes dues received by the Membership Secretary from the British Pteri-dological Society and dues received by the Treasurer from BSA by online transactions. The Membership Secretary received three life memberships this year. Gifts were about one-third less than the amount received last year. The society received no bequests and very little income from the Spore Exchange. Sales of back issues/volumes were about the same as for last year, and sales of Pteridologia were about three times more than last year. Receipts for page charges were about two-thirds less than for last year. Interest earned from checking and savings bank accounts was about half the amount this year than the amount for last year due to a continued downturn in the national economy. Revenue from Bio One, JSTOR, the Copyright Clearance Center, and the Gale Group was about $1,000.00 higher this year than last. The revenue from these organizations is a valuable help in paying expenses. The society received no Botany 2012 meeting revenue share this year from BSA. A statement on the financial status of the several accounts accompanies the Treasurer's Report along with a statement of assets and liabilities. Overall, the receipts for 2012 were higher than for 2011 due to a slight increase in receipt of dues, revenue sharing, and a large withdrawal from savings to pay for the production and printing of Pteridologia 4 and increased costs of printing and mailing issues of AFJ.
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