While it would be clever to be able to start this month’s report with something witty and different, finance is finance. And you just want the facts.
The Profit and Loss Statement shows most of those facts. As you read it, keep in mind that we have two cost centers and the true bottom line is on Line 116. We made this change in August to help us determine the profitability of the Distribution Center, which helps us know where we need to make improvements in efficiency. We have a decrease in Staff as of October 20th, and although it isn’t as apparent this month, we should start seeing a definite decrease in salary expenses. Note: The Piecharts show a visual of the combined income and expenses for both cost centers.
The Balance Sheet shows a substantial Prudent Reserve, but what you can’t tell at this point is how most of those funds are earmarked for future expenditures, including the expense for the first printing of the Meditation Book. The remaining future expenditures will become more apparent when the 2014 Budget is completed. When this budget is approved, a further breakdown of expected expenses will be shown in the Balance Sheet.
7th Tradition donations are listed under the “Donations Received” tab on the left menu. Reminder: if your meeting wants to be doubly sure that its 7th Tradition donations are received, the meeting number should be indicated when the donation is sent. Otherwise, we list the donation as Anonymous.
The Treasury Committee continued to focus on the budget and strategic planning. Because this is the first ever budget to be created for World Service, we are trying to capture what has not been captured before. A draft was previously presented to the Board for comment, and another was presented this past week. Amendments will be made and presented for approval by the next teleconference. I want to extend my personal gratitude to Allen C. and Martin C. for their dedication and focus to this Committee’s work.
Mary Jo L.