The American Academy of Oral and Maxillofacial Radiology (herein called “the Academy”) is a non-profit corporation
with §501(c)(6) status.

Academy continues to maintain the 3 accounts, a Certificate of Deposit and two (2) credit cards with the Bank of America,   1450 Walton Way, Augusta, Georgia 30904. The net worth of the academy is $236,929.25 as of September 30, 2006.

1. Accounts

   a. Checking Account: During the calendar year 2005, the Academy had a total income of $59,154.21 and totalexpenses of $71,838.35 for a total outflow of $12,684.14. In the period from 1/1/06 to 09/30/06, the Academy has had a total income of $31,449.00 and total expenses of $36,619.48 for a total outflow of $5,170.48. Refer to the attached Summary Statements for specific details of the Academy's 2005 (Appendix A) and 2006 year-to-date (Appendix B) status. The current checking account balance (9/30/06) is $53,804.86.

   b. AAOMR Radiology Centennial Scholarship Fund Account: During the calendar year 2005, the Scholarship Fund has had a total income of $11,966.01 and total expenses of $5,000.00. In the period from 1/1/06 to 09/30/06, the Scholarship Fund had a total income of $4,324.20. Refer to the attached Summary Statements for specific 2005 (Appendix C) and 2006 year-to-date (Appendix D) status. The current balance (9/30/06) for the fund is $82,797.61.

   c. AAOMR Annual Sessions Account: During the calendar year 2005, the Annual Sessions Account has had a total income of $54,965.00 and expenses of $42,928.05. In the period from 1/1/06 to 09/30/06, the Annual Sessions Account had a total income of $3,529.34 and expenses of $40,000.00 ($10,000 transferred to operating Account; $30,000 transferred to CD). Refer to the attached Summary Statements for specific 2005 (Appendix E) and 2006 year to-date (Appendix F) status. The current balance (9/30/05) for the account is $37,083.09.

2. Certificate of Deposit

The Academy placed $25,000.00 in a fixed term, Certificate of Deposit on August 27, 1997. The most recent maturity date was August 27, 2006 and the CD was allowed to renew automatically. In addition $30,000 was transferred from the Annual Sessions Account at the time of Renewal. The new maturity date is January 27, 2007. The rolled over amount was $33,243.69 plus the addition $30,000 to make a toal of $63,243.69 All interest is reinvested.

3. Credit Card

The Academy has a Credit Card for two signatories (currently the Executive Director and Treasurer each with different limits) that are used by both Executive Committee members as a convenience for expenses incurred that require immediate payment. The monthly statements are received by the Treasurer, who forwards details of the incurred expenses (e.g. invoices) along with statement of online electronic funds transfer for the entire balance to the President, AAOMR for verification. All transactions are recorded either within the Checking Account or AAOMR Annual Sessions Account

The Academy is in good financial standing.