Dear Fellow ACA Members,

Treasurer’s Report

ACA WSO started the year off with a strong financial performance for January primarily due to increased literature sales and one extraordinary 7th Tradition contribution. In reviewing the P&L Statement we can see sales were up $14,318 (minus COGS) over December’s sales as the WSO inventory has consistently been available in our own headquarters and on the Amazon channels due to improved purchasing methods.

We ended January with $96,786 in total income and $81,479 in total expenses for net income of $15,307.

Also of significance in the income numbers was a very generous  year end contribution made by an ACA member for $7,500 that was deposited in our account in early January.

In the expense section of the P&L there were not any unexpected expenditures for the month. Freight and shipping costs were up about $4,000 as a result of the increase of inventory and sales. A payment of $5,000 retainer for the audit was made to the CPA firm conducting the audit. Wages were back down to normal due to there being two pay periods in January instead of three as we had in December.

To see all of the 7th Tradition Contributions for January click on the 7th Traditions tab in the side menu.

The January 2018 Profit & Loss Statement can be seen here.

We had a net income for the month of $15,307. This surplus is due primarily to the increased sales and extraordinary 7th Tradition contribution previously mentioned.

The January 2018 Balance Sheet can be seen here. The balance sheet shows an decrease in Liabilities and Assets of $27,786 over last month’s reported Liabilities and Assets.

Finance Committee Report

The Finance Committee continues to work on our accounting system upgrades and has been focusing this past month on improving our chart of accounts, moving from cash based accounting system to accrual accounting, and making recommendations to the board for modifications to the Fiscal Policy section in the OPPM.

The Finance Committee was able to put the annual budget before the board in December and have it adopted at a January board meeting. We plan to provide regular reports to the board and committee chairs that will enable them to see how the organization is doing financially compared to the budget and more specifically, how each area is performing as compared to the projected budget.

If anyone has questions or comments about the Treasurer’s or Finance Committee’s reports please fell free to contact me at [email protected].