Dear Board and Fellow ACA Members,
Here are the June 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 $715,201 in Total Assets. This is an increase of $1,971 from the previous month of $713,230.
Our Total Cash and Cash Equivalents increased by $17,084 which is offset by our inventory asset decreasing -$13,441 due primarily to book sales. In spite of everything, we are in good financial condition.
WSO’s Total Liabilities and Equity was $715,201 at the end of the period. This still leaves us with a Year-To-Date net income of $74,994. This is largely due to the cancellation of the ABC AWC which WSO has subsidized much of the expenses in the past to keep costs down for members.
Profit & Loss Statement – Previous Month
Looking at the P&L we can see Total Income for the month was $107,891 which was significantly down from $121,777 the month before. This was a decrease of $13,879 in income, which is still about a 5% increase over our budgeted income amount of $102,420. The decreased income is primarily a direct result of drop off in 7th Tradition Contributions. Please remind your fellow members we depend on the group’s contributions fund the rapidly expanding fellowship services.
The combined Cost of Goods Sold (COGS) was $61,815 which was slightly less than the prior month’s COGS due to lower sales. This left WSO a Gross Income of $46,076 before expenses.
Overall WSO Expenses were $36,595 compared to $33,438 the month before. These expenses include payroll, overhead, and operating expenses. After deducting the expenses from the Gross Profit WSO was left a net income of $9,480 for the month.
P&L Actual to Budget
This report that shows us how we are performing monthly compared to the approved budget. We are ahead of budget for the month in total revenue by $5,471 due to the free month of rent and better than forecast Amazon sales.
Our expenses were also lower than budgeted by $8,447 due in part to cancellation of events and travel due to Covid 19. Overall for the month we out performed the budget by $10,856.
If after your review you these financial statements you have any questions, please feel free to contact me at firstname.lastname@example.org or on Slack at Bill_D_Treasurer.
7th Tradition Contribution Report:
WSO received $7,376.75 in 7th Tradition Contributions for the month from members, groups, and intergroups. This is down approximately 33% from the $11,000 per month we budgeted. A big thank you to those who contributed to help ACA continue to expand to meet the growing need of the program throughout the world.
WSO has created an electronic 7th Tradition basket using Venmo @acawso for contributions from inside the US and can still also easily accept contributions worldwide in our online shopping cart at shop.adultchildren.org. We can also accept Zelle transfers by sending them to email@example.com.
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.
In closing if you are interested in service at the world level we would welcome you to join our committee and learn more about the finances of WSO while helping us build solid bonds with our members, groups, intergroups, and regions.
Bill D., Treasurer