Dear Board and Fellow ACA Members,
Here are the November Financial Statements for your review. 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 accountants have made available at this time.
These Financial Statements are posted on the new ACA website at acawso.org. Click on Treasurer’s Report on the side menu.
In reviewing the Balance Sheet we can see ACA WSO ended the month with $696,703 in Total Assets. This is a decrease of $24,928 from the previous month and is due primarily to a decrease in our Prepaid Deposits for book printing purchases. Cost of goods sold decreases inventory and cost of goods sold exceeded the inventory purchased in November. Liabilities decreased more than assets decreased because of the liabilities we paid off for the strategic planning meeting in October. We paid the vendor for the order. Our total cash increased by $6,086 and our inventory decreased as a sales offset. We are in good financial condition and are continuing to meet all our obligations without drawing into reserves.
This month’s inventory asset total was $149,888.
WSO’s Total Liabilities and Equity of $696,703 at the end of the period and a Year-To-Date net income of $84,106.92.
Profit & Loss Statement
Looking at the P&L we can see Total Revenue for the month was $87,985. This is lower than the previous month by $23,317. This is due to an overall decrease in both sales and contributions. It and December are historically lower sales months for us. The Cost of Goods Sold (COGS) was $49,648 and was also lower compared to the prior month’s COGS of $58,358 showing a Gross Profit of $38,338 before expenses. The impact of the lower sales revenues and the lower COGS was a lower Gross Margin of 49.6% compared to about a 39% average for the publishing industry. Gross margin is calculated by subtracting cost of goods sold (COGS) from total revenue and dividing that number by total revenue.
Overall WSO expenses were $33,821 including payroll and operating expenses resulting in a net income of $4,516 for the month.
7th Tradition Contribution Report:
WSO received $8,807.27 in 7th Tradition Contributions for the month from members, groups, and intergroups. This is down by about $4,000 from the prior month. We budgeted right at $10,000 per month needed in contributions to fund our committees and programs.
To see the 7th Tradition Contributions for the month click the link below or go to the 7th Traditions tab in the right-side menu of the acawso.org website.
Bill D., Treasurer