Chop dried cranberries into small pieces.

In a mixing bowl, with an electric mixer, combine cream cheese, mayonnaise, sugar and butter until smooth and creamy.

Add grated cheese and chopped cranberries. Mix.

Scoop mixture onto a piece of plastic wrap and wrap it around cheese ball mixture, forming a ball.

Refrigerate for one hour.

While mixture chills, place slivered almonds on a baking sheet and toast in a 350° oven just long enough to toast-lightly browned. Watch closely so they will not burn.

When cheese ball has chilled, remove from the refrigerator and roll it in toasted slivered almonds. Serve with Club Crackers. Refrigerate any leftovers.