DAAS Finance Committee of the Dominica Academy of Arts and Sciences

Treasurer's 2005 Annual Report

Submitted February 17, 2006 by Dr. Thomson Fontaine

Dear DAAS Membership

It gives me great pleasure to once again report on the finances of the DAAS for yet another year.

In 2005 we witnessed an improvement in the number of paying members, but this number represents less than 5 percent of the membership. During the year, several members contributed graciously to the successful staging of the International Youth Soccer Tournament in Dominica, which served to raise the profile of the organization on the island and introduce Dominica to dozens of young men with Dominican ancestry.

Late in 2005, Mr. Williard De Fillips from the United States, made a pledge of lands and cash in Dominica to the DAAS of approximately EC$0.25 million (US $95 000). As of December 2005, two of the properties were already transferred and are reflected in the attached statement.

Despite our successes, I view the nonparticipation of members in the raffle as a huge failure. I still believe that this approach is a good way to raise much needed funds. Our efforts can only be advanced if we do what is necessary to help ourselves. The drawing of the raffle is now scheduled for March 31, 2006 and will feature one grand prize of $1 000, to allow the DAAS to realize about $1,000 from the effort.

Looking ahead, I would hope that the membership would be more involved in the planned activities of the DAAS and that we would strive for much more success in this wonderful experiment at nation building. We have come a long way, but we need a deepened commitment from members even as we plan the way forward.

To those of you who continue to toil selflessly in the interest of our country, I say a hearty congratulations and thank you. I commend the leadership for its vision in leading us through what is largely uncharted territory. Special thanks to Mr. De Fillips and his wife for the huge gift and for trusting in the integrity of the organization. To all of you who paid your dues and contributed to the Camp, thank you.

As for me, I continue to pledge my support for the DAAS and its vision by recommitting to the work we have started. Our country needs us, and its people are paying attention.

Thank You

Dominica Academy of Arts and sciences
Financial Statement 2002 - 05
(as of December 31 in US Dollars)

	2002	2003	2004	2005

Opening Balances	0	1,831	1,274	4,642

Revenues	2,038	2,233	3,058	29,403
Membership Contributions /1	443	900	1,073	1,932
National Development Fund /2	1,595	123	60	0
Cultural CD Project	0	960	0	0
Princess Margaret Hospital	0	50	0	0
Advertisement	0	200	50	140
Dominica Project Grant /3	0	0	1,350	0
Grenada Relief Fund	0	0	425	0
Dominica Relief Fund	0	0	100	200
Soccer Camp	0	0	0	25,191
Raffle	0	0	0	1,940

Loan for Cultural CD Project (Repayment)	0	1,300	-1,100	0

Expenses	207	1,490	790	26,681
Bank Charges	14	0	0	16
Inland Revenue Service	0	150	0	0
Dominica Project /4	0	0	339	1,114
Pay Pal Charges	0	0	19	199
PO Box Charges	100	100	100	100
Website Maintenance	93	93	93	93
Cultural CD Project	0	960	0	0
Other	0	187	240	144
Raffle	0	0	0	183
Soccer Camp	0	0	0	24,795

Closing Bank Balance	1,831	1,274	4,546	6,165
Pay Pal Account /5	0	0	97	1,199

Closing Cash Balances	1,831	1,274	4,642	7,364
Fixed Assets /6	0	0	0	52,626
Total Assets	1,831	1,274	4,642	59,990

/1 Includes members contributions towards maintaining of website, PO Box rental
and in 2004, charges associated with retreat in Buffalo.
/2 In 2002, includes $995 earmarked for the St. Mary's Academy.
/3 Funds secured by Dr. St. Jean for projects in Dominica.
/4 Spending on project in Dominica linked to (3). In 2004 payment for assistance on survey;
and 2005 purchase of Police boat.
/5 Pay Pal used for credit card transactions.
/6 Value of land and buildings donated to DAAS by Williard De Fillips

Thomson Fontaine

Treasurer - DAAS