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TREASURER REPORT
YEAR ENDING DECEMBER 31, 2017

The COLEG Fund added three new scholarships in 2017 with generous donations given from Phyllis Berntson of $100,000.00 for the Herman and Myrtle Nelson Memorial Scholarship Fund and from Robert (Skip) Rither in the amount of $50,004.71 for the Eunice E. Smolak Memorial Scholarship Fund and Lowell Homstad Memorial Scholarship Fund.

During 2017 the COLEG had total cash income from all sources of $151,378.00. For the same period, expenses (not including award reimbursements) were $384.24. At year-end the COLEG had combined assets valued at $881,472.35, compared to year-end 2016 assets of $604,120.00. These assets consisted of cash and securities in a brokerage account that totaled $871,539.21, and a non-interest bearing checking account with a balance of $9,933.14. At year-end, scholarship award liabilities totaled $80,550.00. This left the COLEG with a net worth of $800,922.35 at year end, versus $533,370.00 this time last year.

Cash, in order of amount received, came from the following sources: 1) New Named Funds; 2) Investment income; 3) Memberships and contributions; 4) Memorials and honorariums; 5) Annually funded scholarships.

Expenses were low again this year, amounting to .0006% of the COLEG's assets. Tuition reimbursements during the year totaled $16,200.00.

The Endowment Fund which was valued at $523,834.89 at year end 2016, finished 2017 with a valuation of $781,711.48 after year-end adjustments as a result of tuition award reimbursements.

2017 ended with seven named lump sums within the Endowment Fund, in addition to that which is earmarked as the COLEG portion. These book entry accounts in order of value and approximate percentage representation are as follows: COLEG $295,056.07 (37.74%), Kenneth & Evelyn (Lindquist) Berg $133,697.97 (17.10%), William & Ruth (Norland) Wilebski $128,758.68 (16.47%), Herman & Myrtle Nelson $116,476.55 (14.90%), Al & Irene Arneson $35,401.02 (4.53%), Lowell Homstad $29,806.70 (3.81%), Eunice E. Smolak $29,806.70 (3.81%), and John & Ann Hugg $12,707.78 (1.63%).

Shelly Westerberg
Treasurer

 

 

TREASURER REPORT
YEAR ENDING DECEMBER 31, 2016

During 2016 the COLEG had total cash income from all sources of $39,273.93. For the same period, expenses (not including award reimbursements) were $214.00. At year-end the COLEG had combined assets valued at $604,120.00, compared to year-end 2015 assets of $536,343.18. These assets consisted of cash and securities in a brokerage account that totaled $594,662.62, and a non-interest bearing checking account with a balance of $9,457.38. At year-end scholarship award liabilities totaled $70,750.00. This left the COLEG with a net worth of $533,370.00 at year end, versus $473,943.18 this time last year.

Cash, in order of amount received came from the following sources: 1) investment income, 2) memberships/contributions, 3) memorials and honorariums, and 4) annually funded scholarships

Expenses were low again this year, amounting to .0003% of the COLEG's assets. Tuition reimbursements during the year totaled $18,000.00.

The Endowment Fund which was valued at $472,614.07 at year end 2015, finished 2016 with a valuation of $523,834.89 after year-end adjustments as a result of tuition award reimbursements.

2016 ended with four named lump sums within the Endowment Fund, in addition to that which is earmarked as the COLEG portion. These book entry accounts in order of value and approximate percentage representation are as follows: COLEG $249,041.74 (47.54%), Kenneth and Evelyn (Lindquist) Berg $117,911.91 (22.51%), William & Ruth (Norland) Wilebski $113,742.91 (21.71%), Al & Irene Arneson $31,568.29 (6.03%), and John & Ann Hugg $11,570.04 (2.21%).

Shelly Westerberg
Treasurer

TREASURER REPORT
YEAR ENDING DECEMBER 31, 2015

During 2015 the COLEG had total cash income from all sources of $32,059.71. For the same period expenses (not including award reimbursements) were $271.00. At year-end the COLEG had combined assets valued at $536,343.18 compared to year-end 2014 assets of $576,012.94. These assets consisted of cash and securities in a brokerage account that totaled $526,441.80, and a non-interest bearing checking account with a balance of $9,901.38. At year-end scholarship award liabilities totaled $62,400.00. This left COLEG with a net worth of $473,943.18 at year-end versus $526,412.94 this time last year.

Cash, in order of amount received, came from the following sources:
1.  investment income
2.  memberships/contributions
3.  memorials and honorariums
4.  annually funded scholarships

Expenses were low again this year amounting to .0005% of the COLEG's assets. Tuition reimbursements during the year totaled $14,400.00.

The Endowment Fund which was valued at $526,412.94 at year-end 2014, finished 2015 with a valuation of $472,614.07 after year-end adjustments as a result of tuition award reimbursements.

2014 ended with four named lump sums within the Endowment Fund, in addition to that which is earmarked as the COLEG portion. These book entry accounts in order of value and approximate percentage representation are as follows:
COLEG: $217,627.66 (46.05%)
Kenneth & Evelyn (Lindquist) Berg: $109,155.54
William & Ruth (Norland) Wilebski: $105,512.42 (22.33%)
Al & Irene Arneson: $29,333.99 (6.21%)
John & Ann Hugg: $10,984.46 (2.32%)

Shelly Westerberg/Treasurer

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TREASURER REPORT
YEAR ENDING DECEMBER 31, 2014

During 2014 the COLEG had total cash income from all sources of $33,556.97. For the same period, expenses (not including award reimbursements) were $301.44. At year end the COLEG had combined assets valued at $576,012.94, compared to year-end 2013 assets of $525,205.44. These assets consisted of cash and securities in a brokerage account that totaled $565,490.66, and a non-interest bearing checking account with a balance of $10,522.28. At year-end scholarship award liabilities totaled $49,600.00. This left the COLEG with a net worth of %526,412.94 at year end, versus $483,005.44 this time last year.

Cash, in order of amount received, came from the following sources:
1.  investment income
2.  memberships/contributions
3.  memorials and honorariums
4.  annually funded scholarships

Expenses were low again this year amounting to .0005% of the COLEG's assets. Tuition reimbursements during the year totaled $14,100.00.

The Endowment Fund which was valued at $486,488.80 at year end 2013 finished 2014 with a valuation of %526,412.94 after year-end adjustments as a result of tuition award reimbursements.

2014 ended with four named lump sums within the Endowment Fund, in addition to that which is earmarked as the COLEG portion. These book entry accounts in order of value and approximate percentage representation are as follows:
COLEG: $235,064.55 (44.65%)
Kenneth & Evelyn (Lindquist) Berg: $124,382.10 (23.63%)
William & Ruth (Norland) Wilebski: $120,447.08 (22.88%)
Al & Irene Arneson: $33,844.55 (6.43%)
John & Ann Hugg: $12,674.65 (2.41%)

Shelly Westerberg/Treasurer

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TREASURER REPORT
YEAR ENDING DECEMBER 31, 2013


During 2013, COLEG had total cash income from all sources of $22,764.97. For the same period, expenses (not including award reimbursements), were $259.09. At year end, the COLEG had comgined assets valued at $525,205.44 compared to year-end 2012 assets of $429,010.73. These assets consisted of cash and securities in a brokerage account that totaled $517, 214.82, and a non-interest bearing checking account with a balance of $7,990.62. At year-end, scholarship award liabilities totaled $42,200.00. This left COLEG with a net worth of $483,005.44 at year-end, versus $385,610.73 this time last year.
Cash, in order of amount received came from the following sources: 1) investment income; 2) memberships/contributions; 3) annually funded scholarships; 4) memorials and honorariums.
Expenses were low again this year, amounting to .0004% of the COLEG's assets. Tuition reimbursements during the year totaled $3,700.00.
The Endowment Fund which was valued at $374,464.01 at year end 2012, finished 2013 with a valuation of $486,488.80 after year-end adjustments as a result of tuition award reimbursements.
2013 ended with four named lump sums within the Endowment Fund, in addition to that which is earmarked as the COLEG portion. These book entry accounts in order of value and approximate percentage representation are as follows: COLEG $210,889.05 (43.56%), Kenneth & Evelyn (Lindquist) Berg $117,247.28 (24.10%), William & Ruth (Norland) Wilebski $113,667.49 (23.36%), Al & Irene Arneson $32,608.69 (6.70%), and John & Ann Hugg $12,076.28 (2.48%).

Respectfully submitted, Shelly Westerberg/Treasurer

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Treasurer�s Report
For the year ending December 31, 2012

During 2012 the COLEG had total cash income from all sources of $23,352.10. For the same period, expenses (not including award reimbursements) were $282.70. At year-end the COLEG had combined assets valued at $429,010.73, compared to year-end 2011 assets of $376,686.04. These assets consisted of cash and securities in a brokerage account that totaled $424,751.02., and a non-interest bearing checking account with a balance of $4,259.71. At year-end scholarship award liabilities totaled $43,400.00. This left COLEG with a net worth of $385,610.73 at year end, versus $333,136.04 this time last year.

Cash, in order of amount received came from the following sources: 1) investment income; 2) memberships/contributions; 3) annually funded scholarships; 4) additions to named lump sums within the Endowment Fund; 5) memorials and honorariums.

Expenses were low again this year, amounting to .0006% of COLEG's assets. Tuition reimbursements during the year totaled $10,200.00.

The Endowment Fund which was valued at $299,195.62 at year end 2011, finished 2012 with a valuation of $374,464.01 afater year-end adjustments as a result of tuition award reimbursements.

2012 ended with four named lump sums within the Endowment Fund in addition to that which is earmarked as the COLEG portion. These book entry accounts in order of value and approximate percentage representation are as follows: COLEG $158,837.99 (42.42%); Kenneth & Evelyn (Lindquist) Berg $91,697.95 (24.49%); William & Ruth (Norland) Wilebski $89,001.71 (23.77%); Al & Irene Arneson $25,454.12 (6.8%); and John & Ann Hugg $9,472.24 (2.53%).



Shelly Westerberg
Treasurer