Because our expenses were not as great in February, the Balance Sheet this month shows that our Net Assets increased about $30,000 over January. (This is explained in the next paragraph.) Something that does not change the Balance Sheet bottom line is payments for the new Website development. No payments were made in February as we didn’t receive the Web Developer’s invoice before the end of the month. However, two payments will be made in March. But as I noted last month, when these payments are made, the decrease from that account under Savings in Current Assets shows up as an increase in the Fixed Asset account for the website.
So our Net Assets do not change, except that it’s an asset that starts immediately depreciating. It’s also important to note that all of the funds in checking and savings are earmarked, including for hiring additional Staff this year.
The Net Asset increase noted above corresponds to the last line on the Profit and Loss Statement, which is a monthly snapshot of our income and expenses. The income was greater in February because of lower wage expense, and we have a three month credit on our rent that started with February, which saves us $1,357 each for this month, March and April. Actually, our expenses in general were lower for the month as you can see. In March that should change as we start to pre-pay expenses for the ABC.
7th Tradition Contributions are noted in the sub-category under Treasurer’s Report at the left. That amount was $4,093.50 for February. Thank you to all groups and individuals who were able to contribute. Please remember that contributions are listed as Anonymous unless a meeting number is indicated. For Telephone meetings, give us the TEL meeting number, not the passcode.
The Pie Charts are also available for the many of you who appreciate the visual representation of income and expenses.
The Treasury Committee met twice in February to discuss the viability of selling at discounted rates to bookstores and domestic Intergroups, that in order to determine salary requirements for new Staff, we’ll need a detailed job description, what the Annual financial report should contain for the ABC, and that we will review the budget figures. Thank you to Martin C. from the UK and Allen C., one of our Trustees for participating on this Committee.
Respectfully submitted, Mary Jo L., ACAWSO Treasurer