We have examined the accompanying Balance Sheet of Funds of The National Council of Teachers of Mathematics as of 31 May 1976 and the related Statements of Revenues, Expenses, and Fund Balances prepared for the fiscal year then ended. The Council, with Board approval and on a progressive basis, commenced the conversion of its accounting system from the cash to the accrual basis effective for the fiscal year ended 31 May 1976. Accordingly, except for the recognition of Memberships, Subscriptions, and Accrued Annual Leave, which are planned for accrual basis recognition in the fiscal year commencing 1 June 1977, the statements examined and submitted were prepared on this basis. Our examination was made in accordance with
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