The monthly financials for August 2016 are as follows:
- Balance Sheet (click here) – remains largely unchanged. WSO total assets are $634,677, which include cash assets, inventory on hand and down payments to vendors, furniture and equipment, and intangible assets such as the website.
- Profit and Loss Statement (click here)- there was a net income of $32,781, which was due to a number of factors, including a “catch up” in sales because the Distribution Center was out of some inventory in July. A specific breakdown of 7th Tradition Contributions is included in the tab below the Treasurer’s Report in the left margin of this Repository.
FINANCE COMMITTEE REPORT
Members: Jeffrey F., Melani M., Mary Jo L.
Bill D. has left the committee and we wish to thank him very much for his excellent input during his tenure with us.
The committee met two times within the past month and discussed the following:
- Consideration of changing pricing on the tri-folds because of increased distribution costs.
- Pricing of individual items that will be sold on Amazon UK
- Establishment of an Audit Committee, which was approved by the Board in June. This will not be a full audit of the organization but rather a preliminary audit to ensure that we have appropriate systems in place.
Volunteers for this comittee are always welcome. Please send an email to firstname.lastname@example.org if you are interested.
Mary Jo L., ACA WSO Board Member and Treasurer