The Profit and Loss Statement for July shows an increase in net income of $1,988. There were 3 payroll periods last month for our Special Workers, which had an impact on that bottom line number. We are at a year-to-date net income of just over $41,000. Even though the final numbers are correct, some items were placed in the wrong categories and our Accountant is making the changes. I will post the corrected document when I receive it.
The Balance Sheet shows little change from last month.
The Finance Committee, which met twice in July, is comprised of Martin C., John M., and myself. Among other things, we submitted a structure to the Board for approval of the different levels of expenditures. We also discussed creating a new spreadsheet that will help compare financials month over month, a policy on how to list Reserve Funds, and continued to work on committee budgets.
Respectfully submitted,
Mary Jo L., WSO Treasurer and Trustee
