We’ve made some changes to the financial statements in an effort to clarify our financial picture. The Balance Sheet shows a new breakout for the Savings section that has our best estimates of where money will have to be spent and what needs to be kept as a Prudent Reserve. We made a shift in the structure of the Profit and Loss Statement, separating things into
two cost centers – Distribution Center (DC) at the top and Administrative below that. This will help give us a better picture of the profitability of the operations portion of WSO. Please note that in the DC section, the cost of shipping and handling is shown as income proportionately for each literature category. Although handling charges have to be reported as income, the shipping charges that are taken in are offset by line items in the Expense section.
To see the 7th Tradition donations for August, please click on the Donations Received tab on the left. Included there is a reminder of how meetings are asked to determine their 7th Tradition donations.
Other notable items are the donation of a used van that we purchased at a time when the Staff had to transport all orders to the Post Office. Since we now use UPS for most things, we donated the van to Wheels for Wishes that benefits the Make a Wish Foundation. This is shown as a Loss on Disposal of Asset for the Administrative Cost Center.
For those who like our Pie Charts, please note they do not show the break out the two cost centers, as noted above.
We continue to work on improving the inventory reconciliation process, which is mainly a problem because of our GoDaddy Shopping Cart. When we get a new website, we will also move to a better Shopping Cart system, which especially will be a very happy day for the Staff and our Accountant.
Thank you to the Treasury Committee members, Allen C., Martin C. and Luke J. Click here for the August 13th Committee minutes.
Respectfully submitted,
Mary Jo L.
