January was a good month financially for the Fellowship. The Profit and Loss Statement shows a Net Income of just over $20,000. This seems to partially compensate for much lower December sales than expected. Part of that increased income was also due to a larger total for 7th Tradition Contributions. Thank you to all groups who are able to contribute according to the 7th Tradition guidelines, as well as to those individual ACAs who make contributions. All contributions are listed in the document section under Treasurer's Report entitled Donations Received.
The Balance Sheet shows a distribution of expected expenditures in the Current Assets section. The Board is actively planning for the future and how to assure that WSO will be able to meet any expected or unexpected expenses.
Some of the customary expenses that are not usually reported regularly are those for our Accountant to prepare the tax returns, both the annual Federal return and quarterly Sales Taxes to the State of California. As soon as the 2014 Federal taxes are files, the Finance Committee will begin working on preparing financials for the ABC.
Incidentally, if you read the Treasurer's report on a regular basis, you will have heard the Finance (or Treasury) Committee referenced since June of 2013. We currently have two members, Martin C. and myself, and we need more volunteers. If you have a background in finance or accounting, or just an interest in either that is backed up with some level of experience in dealing with finances, please consider volunteering to join us. We have recently been focusing our efforts on belatedly preparing a 2015 budget as well as considering what needs to happen for the ABC.
If you have any questions about WSO finances, please address an email to me at the following address: [email protected]
Respectfully submitted,
Mary Jo L.
