FINANCIAL STATEMENTS FOR MAY BOARD MEETING
Document Type:
CREST [1]
Collection:
Document Number (FOIA) /ESDN (CREST):
CIA-RDP85-00375R000200010004-6
Release Decision:
RIPPUB
Original Classification:
K
Document Page Count:
1
Document Creation Date:
December 12, 2016
Document Release Date:
September 17, 2001
Sequence Number:
4
Case Number:
Publication Date:
May 5, 1977
Content Type:
MF
File:
| Attachment | Size |
|---|---|
 CIA-RDP85-00375R000200010004-6.pdf [3] | 55.76 KB |
Body:
Approved For Release 2002/01/08 : CIA-RDP85-0034'5R000200010004-6
5 May 1977
MEMORANDUM FOR. Executive Secretary,
Educational Aid Fund
SUBJECT : Financial Statements for May Board Meeting
Attached is the Educational Aid Fund Financial Statement as of
29 April 1977, which reflects the establishment of the Loans Receivable
account as required by the 1976 Audit Report. Also attached is the
Projected Income Statement for the Calendar Year 1977.
.In July 1976, thirty-nine letters were sent to students who had
received EAF loans and who, according to our records, should have
graduated by June 1975. Of these, eleven have so far failed to reply,
and replies received from two indicate that the possibility of any
repayment is remote..
It is recommended that the following loans be written off as
potentially uncollectible:
Loan #
72-39
$ 500.00
Loan #
72-21
$ 550.00
72-4
1,300.00
73-20
700.00
72-3
700.00
73-6
700.00
72-40
500.00
72-9
500.00
72"-37
600.00
73-17
600.00
73-5
600.00
73-13
700.00
72-8
500.00
i.e. Thirteen loans for a total write-off of $8,450.00
Write-off of these loans does not preclude acceptance of payments
should any be received at a later date.
A second group of twenty-three letters was sent in January 1977 to
those students who had expected to graduate by June 1976. By May 1978 is
will be possible to recommend a further write-off based on the answers
received. This should establish a workable procedure whereby letters are
mailed early every year, and the answers from the previous year are
received in time for evaluation prior to the May Board meeting.
STATINTL
Approved For Release 2002/01/08 : CIA-RDP85-00375R000200010004-6