Dear Board and Fellow ACA Members,
The financial statements are presented herewith for your information. Please bear in mind these are not audited statements and may be subject to revision at a later date. This is the most accurate information our external accounting services provider has at this moment.
These financial statements are posted on the new ACA website at acawso.org. Click on Treasurer’s Report on the side menu.
ACA WSO ended the month with a decrease in Total Liabilities and Equity from the previous month of $34,123. This is primarily due to a reduction of inventory assets of $15,550 most of which came from BRB and YWB sales. We also had slightly lower cash assets and less prepaid expenses that contributed to the decrease in overall assets.
In reviewing the Balance Sheet we can see that WSO had Total Cash Assets of $366,321. WSO Inventory Assets were $153,013. Combining the Cash and Inventory Assets for the period leaves WSO with Total Assets of $647,128.
WSO’s Total Liabilities and Equity of $647,128 at the end of the period.
Profit & Loss Statement
Looking at the P&L we can see sales not including Cost of Goods Sold (COGS) were $64,616, slightly lower over the prior period’s sales of $65,990, but not a significant difference to cause concern. COGS was down as well to $15,757 due to fewer sales which left WSO with a Gross Profit of $48,859 before deducting expenses.
Overall Distribution Center expenses were $55,964. This left us with a net loss for the publishing side of the organization of $7,105 for the period. Part of this loss can be attributed to the ongoing temp staff in the office, however the most significant expense increase was for Amazon fulfillment costs. Last month it was $10,538 and this month the costs totaled $19,669. The reason for the nearly double fees is that there were three Amazon billing periods in June instead of the usual two periods.
The Fellowship Services side of the ledger shows Total Income of $12,067 with $8,951 of that coming from 7th Tradition Contributions from members, groups, and intergroups. The remaining balance came from audio and e-book sales. No royalties were received this month for international literature sold.
Expenses for the month were slightly lower than last month at $14,309.
This left WSO fellowship side of the organization with a net loss for the month of $2,242 which will likely be offset when the Amazon fulfillment cost in the publishing side is corrected.
7th Tradition Contribution Report:
To see the 7th Tradition Contributions for the month click the link below or on the 7th Traditions tab in the right-side menu of the acawso.org website.
If anyone has questions or comments about the Treasurer’s or Finance Committee’s reports, please feel free to contact me at [email protected].
With love and service,
Bill D., Treasurer and CFO
Chair, Finance Committee