TWELVE-YEAR BALANCE SHEET OF SCOUTING. LIVE ASSETS. All boyhood knows about scouting. Over 2,500,000 boys reached. Over 400,000 active scouts now enrolled. Ten times our membership ready to become scouts if given leadership. Earnest scout endeavor on the increase. Period of active membership increasing. More scouts becoming scout leaders. Over 35,000 active scoutmasters and assistant scoutmasters. Over 80,000 men in local councils, troop committees, and other volunteer capacities. Five hundred and ninety-six first and second class councils in operation. Seventeen thousand eight hundred and fifty active troops. As institutions, the church, school, press, periodicals, business, labor, the professions, statesmen, business clubs, national organizations, motion-picture interests, writers and artists, the home and womanhood indorsing and ready to call to actively support the extension of the movement and are cooperating. Democratic and harmonious form of official supervision of troops. Federal protection of name, uniform, and insignia. Adequate national registration system. Tested and proved national administrative methods with efficient facilities. Standard handbooks and other literature. Sound financial condition. A high reputation for good-turn services. Active influence on boy literature. Seven hundred trained men on full time. An indelible record in American history of war services. Civic-service spirit and ability developed in boys. Genuine public enthusiasm for the movement. Momentum in merit badge work. College courses in scouting. Recognized as a powerful Americanizing influence. Recognized as a leading factor in the reduction of juvenile delin quency. STERN LIABILITIES. To maintain conditions so that boys will always want to be scouts, and men will be willing to volunteer as leaders. To maintain standards and policies of the movement. With such assets we should not fear to face our obligations. Respectfully submitted. JAMES E. WEST, Chief Scout Executive. REPORTS OF DEPARTMENTS AND COMMITTEES. REPORT OF THE TREASURER, NATIONAL COUNCIL, FOR THE FISCAL YEAR ENDED DECEMBER 31, 1921. To the National Council, Boy Scouts of America: NEW YORK, March 22, 1922. In accordance with the requirements of the constitution and by-laws, there is submitted herewith the balance sheet of the Boy Scouts of America as of December 31, 1921, together with the income and surplus accounts for the fiscal year ended at that date, with supporting statements showing the operations in detail of all the departments of the Boy Scouts of America. It is very gratifying to report that the operations of the Boy Scouts of America for the year 1921 show a net surplus of $127,205.43. Pursuant to action of the executive board, the books have been audited by Messrs. Price, Waterhouse & Co., whose certificate is attached to the balance sheet. Very truly yours, Current assets: BOY SCOUTS OF AMERICA. Boy Scouts of America balance sheet, December 31, 1921. ASSETS. We have examined the books and accounts of the Boy Scouts of America for the year ended December 31, 1921, and certify that the above balance sheet and the relative income and surplus account are correctly prepared therefrom and, in our opinion, fairly set forth the financial position of the Boy Scouts of America at December 31, 1921, and the results of its operations for the year. Signed: FRICE, WATERHOUSE & Co. STATEMENT OF THE BOY SCOUTS OF AMERICA TRUST FUND HELD BY TRUSTEES. Cash in bank. $69, 372. 89 Accounts assigned to trustees by Boy Scouts of America: in accordance with indenture dated June 27, 1921... $320, 397. 13 Additional subscription.............. Interest received on bank balances... Total... 100.00 $320, 497. 13 746. 30 $321, 243. 43 NEW YORK, March 20, 1922. We have examined the books and accounts of the Boy Scouts of America trust fund for the period from June 27, 1921, to December 31, 1921, and certify that the above statement is correctly prepared therefrom. Signed: PRICE, WATERHOUSE & Co. Income and surplus account for the year ended December 31, 1921. Net income by departments, including interdepartment transactions: $20, 109.75 Field and service department (Exhibit 2). $42, 596. 61 Less uncollectible pledges of local council quotas written off.. 15, 463. 94 27, 132. 67 Deduct general expenses: Interest on indebtedness incurred prior to receipt of Cost of Boys' Life Magazine sent to scoutmasters.. Expenses of prior period paid during current year. Add contributions for working capital.. Deduct reserve for contingencies... Balance.. Surplus on Dec. 31, 1920. Deduct good will of Boys' Life Magazine written off. Surplus on Dec. 31, 1921, carried to balance sheet.... $267, 205. 43 140, 000. 00 $127, 205. 43 35, 412. 26 $162, 617. 69 73, 864. 67 88, 753. 02 EXHIBIT 1.—Administration department operations, fiscal year ended December 31, 1921. Income: Contributions.. Troop registration fees.. National.council membership dues.. $11, 085. 22 465.60 Appropriation from net profits of commercial departments 41, 829.07 1, 567.98 EXHIBIT 2.—Field and service department operations, fiscal year ended December 31, 1921. EXHIBIT 3.-Supply department operations, fiscal year ended December 31, 1921. Operating profit.. Deduct depreciation written off or reserved for losses on merchandise inventories and accounts receivable.. Balance carried to income account.. 1 $62,026.05 of this amount is unpaid at December 31, 1921, and is considered collectible. |