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FIRST AND FINAL ACCOUNT OF
Orrstown Bank
Executor For
ESTATE OF Edith R. CARBAUGH, Deceased
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Date of Death:
April 24, 2007
Date of Executor's Appointment
May 11,2007
Date of First Advertisment of
Grant of Letters
May 16, 2007
Accounting for the Period:
April 24, 2007 to
May 15,2008
Purpose of Account: The Executor offers this Account to acquaint interested parties with the
transactions that have occurred during the Administration.
It is important that the Account be carefully examined. Requests for additional information, questions
or objections can be discussed with:
Attorney for the Estate:
Law Office Forest N. Myers
13 7 Park Place West
Shippensburg P A 17257
717.532.9046 (Ph.)
717.532.8879 (Fax)
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SUMMARY OF ACCOUNT
PAGES
PRINCIPAL
Receipts 3 $443,841.86
Net Gain (or Loss) on Sales or Other
Dispositions 6 29,360.76
473,202.62
Less Disbursements
Administration Cost 7 2,956.00
Debts and Payables 7 422.71
Federal and State Taxes 7 60,136.00
Fees & Commissions 7 39,547.00
Misc. Administrative Expenses 7 63.06
Misc. Expenses 7 1,009.10
-$104,133.87
Balance before Distributions 369,068.75
Distribution to Beneficiaries 0.00
Principal Balance on Hand 8 $369,068.75
For Information:
Investments Made
Changes in Holdings 9
INCOME
Receipts 12 21,043.58
Less Disbursements 0.00
Balance Before Distributions 2],043.58
Distributions to Beneficiaries 0.00
Income Balance on Hand 13 20,183.58
COMBINED BALANCE ON HAND 389,252.33
Proposed Schedule of Distribution 14
to Beneficiaries
Verification 15
2
PRINCIPAL RECEIPTS
Assets Listed in Inventory
(Valued as of Date of Death)
Government Bonds
100.00 Shares US Savings Bonds HH
Stocks and Mutual Funds
200.00 Shares Fed Farm Credit Banks 3.55
200.00 Shares Fed Home Loan Banks 4.5
99.6880 Shares Fed Home Loan Banks 5.03
1.00 Shares Fed Money Market - Income
1.00 Shares Fed Money Market - Principal
Tenn Valley Authority 3.3
9.7700 Shares Vanguard IT
10.6100 Shares Vanguard ST
TOTAL INVENTORY
3
19,937.60
19,768.80
24,922.00
1,704.71
150,133.38
19,662.40
18,770.42
171,243.33
$43,000.00
426,142.64
$469,142.64
05/11/2007
07/26/2007
08/28/2007
PRINCIPAL RECEIPTS (Continued)
FORWARD
SUBSE~UENT RECEIPTS
Estate Account received from Shippensburg Health Care Center
Estate Account Final funds (dividends accrued) from Trust Account No.
228
Estate Account received from Capital Blue Cross
4
$1,030.00
333.70
274.31
$469,142.64
1,638.01
ADJUSTMENTS TO INVENTORY
05/08/2007 Tenn Valley Authority 3.3 Price changed from $19,662.4000 to
$20,000.0000
Adjusted value 20,000.00
Value per inventory $19,662.40 337.60
05/08/2007 Vanguard ST Price changed from $171,243.3310 to $174,810.4200
Adjusted value 174,810.42
Value per inventory $171,243.33 3,567.09
05/08/2007 Vanguard IT Price changed from $18,770.4171 to $20,000.0000
Adjusted value 20,000.00
Value per inventory $18,770.42 1,229.58
05/08/2007 Fed Home Loan Banks 4.5 Price changed from $19,768.8000 to
$20,000.0000
Adjusted value 20,000.00
Value per inventory $19,768.80 231.20
05/08/2007 Fed Home Loan Banks 5.03 Price changed from $24,922.0000 to
$25,000.0000
Adjusted value 25,000.00
Value per inventory $24,922.00 78.00
05/08/2007 Fed Farm Credit Banks 3.55 Price changed from $19,937.6000 to
$20,000.0000
Adjusted value 20,000.00
Value per inventory $19,937.60 62.40
05/08/2007 US Savings Bonds HH Bonds deposited to Estate Account this date
Adjusted value 7,253.56
Value per inventory $43,000.00 (35,746.44)
05/08/2007 Fed Money Market - Income Price changed from $1,704.7100 to
$4,146.4900
Adjusted value 4,146.49
Value per inventory $1,704.71 2,441.78
PRINCIPAL RECEIPTS (Continued)
TRANSFERS TO/FROM PRINCIPAL
Transfer from income to principal
07/02/2007 US Savings Bonds HH Transfer from income to principal
$860.00
TOTAL PRINCIPAL RECEIPTS
443,841.86
5
.
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS
TOTALS
$35,746.44
($6,385.68)
NET GAIN TRANSFERRED TO SUMMARY
$29,360.76
6
DISBURSEMENTS OF PRINCIPAL
ADMINISTRATION COST
05/10/2007 Register of Wills; Cumberland County Probate costs
(opening estate)
05/15/2008 Reserve for filing First and Final Accounting
DEBTS AND PAYABLES
OS/22/2007 Millennium Pharmacy Systems Inc
FEDERAL AND STATE TAXES
07/31/2007 Register of Wills; Cumberland County
04/09/2008 IRS Final lifetime tax payment
FEES & COMMISSIONS
05/31/2007 Orrstown Bank 2006 Tax preparation fee
12/20/2007 Law Office Forest N Myers
05/15/2008 Orrstown Bank
05/15/2008 Orrstown Bank
MISC. ADMINISTRATIVE EXPENSES
07/12/2007 The Sentinel Estate Advertisement
MISe. EXPENSES
05/31/2007 US Treasury Reverse Social Security Benefits for May
2007
TOTAL DISBURSEMENTS OF PRINCIPAL
7
.
$456.00
2,500.00
422.71
60,000.00
136.00
250.00
19,088.00
1,211.00
18,998.00
63.06
1,009.10
$2,956.00
422.71
60,136.00
39,547.00
63.06
1,009.10
$104,133.87
PRINCIPAL BALANCE ON HAND
Stocks and Mutual Funds
1.00 Shares Fed Money Market - Income
1.00 Shares Fed Money Market - Principal
TOTAL PRINCIPAL BALANCE ON HAND
8
VALUE AT
05/01/2008
$2,935.49
366,133.26
$369,068.75
FIDUCIARY
ACQUISITION
VALUE
$4,146.49
150,133.38
$154,279.87
04/24/2007
05/08/2007
05/18/2007
04/24/2007
05/08/2007
05/18/2007
.04/24/2007
05/08/2007
05/18/2007
04/24/2007
05/08/2007
CHANGES IN PRINCIPAL HOLDINGS
ACCOUNT
VALUE
Fed Farm Credit Banks 3.55
200 Shares Inventoried at $99.69 each
Value increased from $19,937.6000 to $20,000.0000
200 Shares Carried at
Sold, carried at $0.00 each
200 Shares No Longer Held
$19,937.60
$62.40
$20,000.00
-$20,000.00
$0.00
Fed Home Loan Banks 4.5
200 Shares Inventoried at $98.84 each
Value increased from $19,768.8000 to $20,000.0000
200 Shares Carried at
Sold, carried at $0.00 each
200 Shares No Longer Held
19,768.80
$231.20
$20,000.00
-$20,000.00
$0.00
Fed Home Loan Banks 5.03
99.69 Shares Inventoried at $250.00 each
Value increased from $24,922.0000 to $25,000.0000
99.69 Shares Carried at
Sold, carried at $0.00 each
99.69 Shares No Longer Held
24,922.00
$78.00
$25,000.00
-$25,000.00
$0.00
Fed Monev Market - Income
1 Shares Inventoried at $1,704.71 each
Value increased from $1,704.7100 to $4,146.4900
1 Shares Carried at
1,704.71
$2,441.78
$4,146.49
9
CHANGES IN PRINCIPAL HOLDINGS (Continued)
ACCOUNT
VALUE
Fed Money Market - Principal
04/24/2007 1 Shares Receipt of principal at $150,133.38 each 150,133.38
05/11/2007 received from Shippensburg Health Care Center $1,030.00
1 Shares Carried at $151,163.38
08/28/2007 received from Capital Blue Cross $274.31
1 Shares Carried at $151,437.69
07/26/2007 Final funds (dividends accrued) from Trust Account No. $333.70
228
1 Shares Carried at $151,771.39
05/18/2007 Sold, carried at $0.00 each $19,716.83
1 Shares Carried at $171,488.22
05/18/2007 Sold, carried at $0.00 each $170,759.14
1 Shares Carried at $342,247.36
05/18/2007 Sold, carried at $0.00 each $18,693.57
1 Shares Carried at $360,940.93
05/18/2007 Sold, carried at $0.00 each $19,540.00
1 Shares Carried at $380,480.93
05/18/2007 Sold, carried at $0.00 each $24,775.00
1 Shares Carried at $405,255.93
05/18/2007 Sold, carried at $0.00 each $19,940.20
1 Shares Carried at $425,196.13
08/1 0/2007 Sold, carried at $0.00 each $43,000.00
1 Shares Carried at $468,196.13
07/02/2007 Transfer cash in the amount of$860.00 from US Savings $860.00
Bonds HH to Fed Money Market - Principal
1 Shares Carried at $469,056.13
04/24/2007
05/08/2007
Tenn Valley Authority 3.3
Inventoried Value
Value increased from $19,662.4000 to $20,000.0000
05/18/2007
Carried at
Sold, carried at $20,000.00
No Longer Held
19,662.40
$337.60
$20,000.00
-$20,000.00
$0.00
10
CHANGES IN PRINCIPAL HOLDINGS (Continued)
11
ACCOUNT
VALUE
RECEIPTS OF INCOME
Fed Farm Credit Banks 3.55
05/18/2007 Interest Income Dividend received for FFCB 3.55 .
Fed Home Loan Banks 4.5
05/18/2007 Interest Income Dividend received for FHLB 4.5.
Fed Home Loan Banks 5.03
05/17/2007 Interest Income Dividend received for FHLB 5.03 .
Fed Money Market - Income
03/03/2008 Dividend Income Dividends earned June 01,2007 _
March 03, 2008
05/01/2008 Dividend Income 4/1/2008 to 4/30/2008
Fed Money Market - Principal
03/03/2008 Dividend Income Dividends earned June 01, 2007 _
March 03, 2008
05/01/2008 Dividend Income 4/1/2008 to 4/30/2008
Tenn Valley Authority 3.3
05/18/2007 Interest Income Dividend received for TV A 3.3 .
US Savings Bonds HH
07/02/2007 Interest Income 4/24/2007 to 7/2/2007
Vanguard IT
06/01/2007 Dividend Income Dividend received for VANGUARD
IT.
Vang:uard ST
06/01/2007 Dividend Income Dividend received for VANGUARD
ST.
TOTAL RECEIPTS OF INCOME
12
563.21
56.28
16,974.04
947.87
$274.14
277.50
632.24
619.49
17,921.91
225.47
860.00
24.09
208.74
$21,043.58
INCOME BALANCE ON HAND
Stocks and Mutual Funds
Fed Money Market - Income
Fed Money Market - Principal
INCOME BALANCE ON HAND
13
$619.49
19,564.09
20,183.58
$20,183.58
PROPOSED DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
Per Article THIRD B of Will:
TO: Donna Schenk
TO: Thomas Jackson
TO: Carol Eckenrode
TO: Howard Shuman
TO: Messiah United Methodist Church
$30,183.69
30,183.69
30,183.69
30,183.69
30.183.69
150,918.45
Per Article THIRD C of Will:
TO: Betty Lynch
TO: Doris Kling
TO: Sandy Weaver
TO: Rose Jackson
59,583.42
59,583.42
59,583.42
59.583.42
238.333.68
TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
$389,252.13
14
VERIFICATION
Orrstown Bank, by Daniel K. Baer, Trust Officer, Executor of the Will of EDITH CARBAUGH, Deceased,
hereby declares under oath that is has fully and faithfully discharged the duties of its office; that the foregoing First
and Final Account is true and correct and fully discloses all significant transactions occurring during the accounting
period; that all known claims against the Estate have been paid in full; that, to its knowledge, there are no claims
outstanding against the Estate; that all taxes presently due from the Estate have been paid; and that the grant of Letters
Testamentary and the first complete advertisement thereof occured more than four months before the filing of the
foregoing First and Final Account.
This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to
authorities. ~
town ank, Executor
By: Daniel K. Baer, Trust Officer
S-\~-08
Dated:
It is hereby certified that written notice stating the date, time and place of the presentation of the First and
Final Account in the above estate and the statement of proposed distribution and stating the last day to file objections
to the account and statement of proposed distribution and includirtg a copy of the statement of proposed distribution
was given at least twenty-eight (28) days prior to the date fixed to every unpaid creditor who has given written notice
to his claim to the Accountant and to every other person known to the Accountant to have or claim an interest in the
estate as creditor, beneficiary, heir or next of kin, and further, said written notice was given to the Attorney General of
Pennsylvania pursuant to Rule 5.5 of the Pennsylvania Otphans' Court.
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Attorney for Accountant
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