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Application of Funds:
Freedom Savings Bank #3058417 4,546
Freedom Savings Bank CD #4006814 10,327
Cadillac (1986) 16,713
Chevy truck (1986) 13,855
Gifts to Larry 168,359
Gifts to Ronnie 56,734
Gifts to Sylvia 25,928
Personal living expenses for 4 persons 21,025
Total application of funds 217,487
Excess of applications over sources of funds $193,387
1Our revisions to Larry’s source and application of funds
analysis for this year indicates an excess application of funds
of $90,643. See Appendix L. Respondent’s Appendix 5 (Frank)
uses $68,359 for gifts to Larry for this year even though
respondent shows an excess application of funds for Larry on his
source and application of funds analysis for 1988 of $94,067.
See Appendices A and G. We use $68,359 for our revisions to
Frank and Katherine’s source and application of funds analysis
for 1988 because, on the basis of Joint Findings of Fact No. 4,
we deem the lower amount to be a concession by respondent that
such amount is the proper amount to use.
1989
Source of Funds:
Social Security--Frank $2,902
Social Security--Katherine 3,070
Green Cove Springs Sale 23,978
Gambling income 1,002
Interest income 2,847
Freedom S&L #3058417 4,546
Freedom S&L CD #4006814 10,327
Total source of funds 48,672
Application of Funds:
Freedom Savings Bank #3058417 1,939
Glendale Federal #601219-0 39,919
Corvette (1976) 7,672
Gifts to Larry 10,094
Gifts to Ronnie 65,174
Gifts to Sylvia 20,648
Personal living expenses for 5 persons 22,243
Total application of funds 167,689
Excess of applications over sources of funds $119,017
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