Dear Board and Fellow ACA Members,
Here are the April 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 Board 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 $697,774 in Total Assets. This is a decrease of -$4,913 from the previous month.
Our Total Cash and Cash Equivalents decreased by -$34,190 which is offset by our inventory valuation increasing $36,951 after receipt of printing inventory. Despite the difficult period we all have been in, we are in very good financial condition considering the Covid-19 impact on our fellowship and the worldwide economy.
WSO’s Total Liabilities and Equity was $697,774 at the end of the period. This still leaves us with a Year-To-Date net income of $15,165 despite the effects of the pandemic.
Profit & Loss Statement – Previous Month
Looking at the P&L we can see Total Income for the month was $100,001 up from $72,687 in March. This is an increase of $26,658 in income, but still about 15% below our budgeted income amount of $115,000. The increased income is a result of a pick-up in sales on both our own website and Amazon, plus the royalties received from European printing and sales.
The Cost of Goods Sold (COGS) was $61,103 and was higher than the prior month’s COGS due to higher sales. This left WSO a Gross Profit of $38,898 before expenses.
Overall WSO Expenses were $39,875 compared to $33,787 the month before. These expenses include payroll and operating expenses. After deducting the expenses from the Gross Profit WSO was left a net loss of -$977 for the month.
P&L Actual to Budget
This report that shows us how we are performing monthly compared to the approved budget. We were on budget for total income after we take out the projected revenue from the cancelled face to face ABC/AWC.
Our expenses were also lowered than budgeted by $22,309 after eliminating the expenses for ABC/AWC and a financial audit.
Despite the actual net loss of -$977 for the month we still out performed the budget by $18,696. I won’t take the meeting’s time to go over the budget in detail, but if after your review you have any questions, please feel free to contact me at firstname.lastname@example.org.
7th Tradition Contribution Report:
WSO received $13,131 in 7th Tradition Contributions for the month from members, groups, and intergroups. This is up approximately 20% from the $11,000 per month we budgeted. A good percentage of the contributions came from the electronic 7th Tradition baskets during the virtual ABC / AWC.
WSO has created an electronic 7th Tradition basket using Venmo @acawso for contributions made inside the US and can still also easily accept contributions worldwide in our online shopping cart at shop.adultchildren.org.
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