The

TO MENC MEMBERS Each December, Music Educators Journal carries the financial statement of the Music Educators NationalConference in order that the members may be familiar with the fiscal status of their organization. 1971-1972 was a banner year in many respects, including the highest membership in history-a total of 61,425. Because of other factors, however, it was not the biggest year in Conference income.The membership should know that the National Executive Board felt that, in anticipation of reduced income, it should authorize expenditures from reserves to carry out the professional program of publications, public relations, conventions, committee and commission activity, and special projects. The Board, under the leadership of my predecessor Frances M. Andrews, is to be commended for directing the affairs of the Conference in such a way that the call on the reserves was fourteen thousand dollars rather than the eighty-seven thousand dollars that had been projected. The Board has approved a balanced budget for 1972-1973. Jack E. Schaeffer President ACCOUNTANT'S CERTIFICATE We have examined the balance sheet of Music Educators National Conference as at June 30, 1972, and the related statement of income and expenses for the year then ended. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting recordsand such other auditing procedures as we considered necessary in the circumstances.In our opinion, the accompanying balance sheet and statement of income and expenses present fairly the financial position of Music Educators National Conference at June 30, 1972, and the results of its operations for the year then ended, in accordance with generally accepted accounting principles applied on a basis consistent with that of the preceding year. BISSELLE, MEADE & COMPANY

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