Expenditures and Donations
This year, 1996, we started out with about $2,450 in the bank. By the end of the year we had made the second property payment, had spent about $1,600 on operations and had about $12,600 in the bank. The following table, Table 4, reviews the cash flow during the year and compares it to 1995:
1996 FINANCIAL SUMMARY (unaudited)
| 1996 | 1995 | |||||
|---|---|---|---|---|---|---|
| Funds Balance at End of Previous Year (12/31/95) | $2,451.00 | $0.00 | ||||
| INCOME : | 29,450.00 | 12,451.00 | ||||
| Funds from State Sources | 4,000.00 | |||||
| Funds from private sources (see Table 5) | 25,450.00 | |||||
| EXPENDITURES : | 19,388.44 | 10,000.00 | ||||
| Wages and Employment Related Expenses | 0.00 | |||||
| Fund Raising and Public Relations | 46.00 | |||||
| Operations | 1,542.44 | |||||
| Employee relations | 72.00 | |||||
| Engineering | 0.00 | |||||
| Lease and rental | 0.00 | |||||
| Office expenses | 0.00 | |||||
| Repairs and maintenance | 473.08 | |||||
| Safety and security | 476.35 | |||||
| Supplies | 0.00 | |||||
| Tools | 143.75 | |||||
| Transportation | 292.96 | |||||
| Utilities and fuel | 84.30 | |||||
| Capital: | 17,800.00 | |||||
| Equipment | 0.00 | |||||
| Property | 17,800.00 | |||||
| Funds Balance at End of Year (12/31/96) | $12,612.44 | $2,451.00 | ||||
Since the Burrus is envisioned as an entity supported mainly by voluntarism (from students, mineral industry professionals and the minerals industry), it is with particular gratitude and pride that we list those who have helped us during the year. Table 5 lists funds contributed and Table 6 lists in-kind contributions.
Fund raising went well during the year. Total amount raised was $25,450, more than twice the amount raised the previous year $12,451. Slide presentations with attendant requests for financial assistance were made to the Northern Nevada section and the Northeastern Nevada section of the SME, and to the Miner's Pick committee (Mining Industry Suppliers) of the Nevada Mining Association. Solicitations were also made through the mailing of the 1995 annual reports. In addition, personnel contacts by Dr. Jaak Daemen, Acting Dean, and Mary Beth Gentry, MSM Director of Development, resulted in substantial contributions. Thanks to all those who contributed; we will do our best to earn your continuing support.
FINANCIAL CONTRIBUTIONS
| Received | From | Individual | Company | Matching | Cumulative |
|---|---|---|---|---|---|
| 1/16/96 | Jean-Michell Rendu/Newmont Mining | -- | -- | $50.00 | $50.00 |
| 1/29/96 | Richard W. Harris | $250.00 | -- | -- | $300.00 |
| 2/14/96 | Barrick Goldstrike Mines | -- | $5,000.00 | -- | $5,300.00 |
| 3/12/96 | Nevada Mining Association | -- | $1,000.00 | -- | $6,300.00 |
| 4/25/96 | H.N. Rhoden | $200.00 | -- | -- | $6,500.00 |
| 5/2/96 | David McLean | $20.00 | -- | -- | $6,520.00 |
| 5/8/96 | Geotemps | -- | $1,500.00 | -- | $8,020.00 |
| 5/22/96 | Doug Driesner | $80.00 | -- | -- | $8,100.00 |
| 6/12/96 | Northern Nevada Section SME | -- | $500.00 | -- | $8,600.00 |
| 6/19/96 | Humboldt Mining Services | -- | $200.00 | -- | $8,800.00 |
| 6/20/96 | Cobre mining Company | -- | $5,000.00 | -- | $13,800.00 |
| 6/27/96 | Sante Fe Pacific Gold Corporation | -- | $500.00 | -- | $14,300.00 |
| 6/27/96 | Jeff Smith | $50.00 | -- | -- | $14,350.00 |
| 6/27/96 | Echo Bay Minerals - McCoy Cove Mine | -- | $1,000.00 | -- | $15,350.00 |
| 7/2/96 | Cyprus Amax Minerals Company | -- | $1,000.00 | ---- | $16,350.00 |
| 7/3/96 | Legend Metallurgical Laboratories | -- | $100.00 | -- | $16,450.00 |
| 7/30/96 | Small Mine Development | -- | $2,000.00 | -- | $18,450.00 |
| 7/30/96 | Round Mountain Gold Coorporation | -- | $1,000.00 | -- | $19,450.00 |
| 8/12/96 | Newmont Gold Company | -- | $5,000.00 | -- | $24,450.00 |
| 10/22/96 | Nevada Mining Association, Miner's Pick Committee | -- | $1,000.00 | -- | $25,450.00 |
| Total Funds Contributed - 1996 | $600.00 | $24,800.00 | $50.00 | $25,450.00 | |
| Total Funds Contributed - 1995 | $1,801.00 | $10,650.00 | -- | $12,451.00 | |
| Total Funds Contributed Through 1996 | $2,401.00 | $35,450.00 | $50.00 | $37,901.00 |
Although the dollar amount of in-kind contributions was smaller in 1996 than in 1995, they were more focused on our immediate needs. In-kind contributions are donations of equipment, materials, services and supplies. This year we did not have the substantial used equipment donations from the Nevada Test Site. For now we are in pretty good shape equipment wise, but we will need a lot of services, materials and supplies in the future. Thanks to everyone who helped with in-kind donations.
IN-KIND CONTRIBUTIONS
| From | Description | Value1 |
|---|---|---|
| Tamrock Loaders Inc. (Mr. Reg Ives) | Operating, maintenance and parts manuals for 911B LHD | $125 |
| Billiton Minerals, USA (Mr. L.J. Martin) | Safety training materials and videos | $35 |
| Western Hog Ranch Co. (Mr. Butch Moore) | Two days of dozer work | $1,470 |
| Granite Construction, Inc. (Mr. Jim Roberts) | Front end loader work to recover our LHD | $1,200 |
| Sierra Pacific Power Co. (Mr. Mike Smart) | Two field first aid kits | $120 |
| H.B. Engineering (Mr. K.J. Buchanan) | Color copies, mileage | $53 |
| R.T. Donovan & Sons | Storage areas for mining equipment | $600 |
| Richard W. Harris, Esq. | ail, FAX, FedEX, etc. | $100 |
| Edward P. Jucevic | Field supplies, office supplies, equipment repair parts, fees | $497 |
| Total In-Kind Contributiuons -1996 | $4,700 | |
| Previous Contributions | $209,400 | |
| Total In-Kind Contributions Through 1996 | $214,000 | |
1 VALUE is estimated value at the time and in the condition received by MSM.