First quarter financial update for Nova Roma:

Beginning balance as of 1/1/03: $4,771.59


Eagle subscriptions: $148
Flag revenue: $279.50
Taxes: $635.51
Donations: $12

Total: $1,075.01


PayPal fees: $70.98
Reimbursement to Marcus Antonius Bianchus for 2002 Lacus Magni event: $150
Transfer to Ad Funds Res (land fund): $250
Transfer to Fideicommissum (scholarship fund): $400
Incorporation fee: $20
Reimbursement to Cassius for flags sold: $128.25

Total: $1,019.23

Ending balance: $4,827.37


The tax revenue is presented only through 4/1/03; the second-quarter report should contain a full accounting of the amounts received.

These totals do not include any reimbursement for Eagle expenses, as the Treasury had not received a statement from the editor. We expect such a statement to be forthcoming and plan to cover these expenses.

Nova Roma came close to breaking even this month despite the annual transfer of funds to our long-term goals. This argues well for our financial health.