Dear Board and Fellow ACA Members,
Here are the February 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 blue ACA service website at acawso.org. Click on Treasurer’s Report on the side menu to view this report.
In reviewing the Balance Sheet we can see ACA WSO ended the month with $747,729 in Total Assets. This is an increase of $4,200 from the previous month and is due in large part to ABC AWC registrations and food tickets purchased. We also continued to experience higher than projected literature sales. Our Total Liabilities decreased by $11,048. Overall our Cash and Cash Equivalents increased by $3,300 while our inventory valuation decreased accordingly as a sales offset. We are in solid financial condition and are continuing to meet all our regular obligations without drawing into reserves.
WSO’s Total Liabilities and Equity of $747,729 at the end of the period that leaves us with a Year-To-Date net income of $39,709.
Profit & Loss Statement – Previous Month
Looking at the P&L we can see Total Income for the month was $114,592. This is less than the previous month. This is due in part to the decreased sales due to out of stock inventory as well as a decrease in contributions. The Cost of Goods Sold (COGS) was $60,309 and was a little higher compared to the prior month’s COGS of $54,252 leaving WSO a Gross Profit of $54,282 before expenses.
Overall WSO expenses were $39,034 compared to $48,360 the month before. These expenses include payroll and operating expenses after deducting them from the Gross Profit resulted in a net income of $15,248 for the month.
P&L Actual to Budget – This is a new report that will show us how we are performing by month compared to the approved budget.
We exceeded budgeted sales revenue by $3,108. I won’t take the meeting’s time to go over each area of the actual versus budget variances, but if after your review you have any questions, please feel free to contact me.
7th Tradition Contribution Report:
WSO received $10,166 in 7th Tradition Contributions for the month from members, groups, and intergroups. We budgeted about $11,000 per month in contributions needed to fund our committees and programs worldwide so we were a little short of that goal this month.
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