Dear Board and Fellow ACA Members,
We do not have the financial statements ready to present this month. They are in an incomplete stage and the accountants do not feel they are accurate enough to issue. This was due to a combination of things that prevented the accountants from getting them completed for today’s meeting.
The first thing that occurred was we have a very short closing period due to the 1st being on a Saturday this month which only gave us 5 working days to complete the month end close process. This is the shortest amount of time we would ever have, and it did not give us any cushion in the event of any problems. So naturally according to Murphy’s Law we had a performance glitch with two of our software applications that caused a loss of some of the work completed that now must be done over again next week.
Having said that the accountants and the Finance Committee did meet Thursday evening and go over the data that is available at this time. Since the sales order imports from Amazon and Shopify were the areas affected by the glitch, any numbers related to those figures are incomplete. We do have some data that can be relied upon in other areas. For example, the balances in all of our cash accounts has been reconciled, the 7th Tradition Contributions were tallied and correctly reported and are posted on the service website under 7th Tradition Contributions, accruals for wages and payroll are accurate, and all of the expenses excluding COGS, shipping, or other sales related expenses are also reported accurately.
However, since the sales orders and revenues make up about 90 percent of our total income, we do not feel comfortable presenting the financials until they are corrected. Therefore, we are estimating it will be next Thursday they will be presented to the Finance Committee for review and approval before being posted to the website sometime next Friday.
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 protected]
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