Dear Board and Fellow ACA Members,
Here are the July Financial Statements as promised at Saturday’s monthly board meeting. The accountants did a good job getting all of the lost data for the month back into the accounting program this week. 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 $675,983 in Total Assets. This is a decrease of $50,960 from the previous month of $726,944.
Our Total Cash and Cash Equivalents decreased by $26,047 which is primarily due to payments of back sales taxes. Our inventory assets decreased by approximately -$15,700 due to continued brisk book sales. We have met all of our obligations for the month and are in solid financial condition.
WSO’s Total Liabilities and Equity was $675,983 at the end of the period. This leaves us with a Year-To-Date net income of $80,157.
Profit & Loss Statement – Previous Month
Looking at the P&L we can see Total Income for the month was $110,032 which was slightly up from $107,554 the month before. This was an increase of $2,478 in income from the prior month, which is about a 7.5% increase over our budgeted income amount of $102,420. The 7th Tradition Contributions returned to right at the budgeted level this month which helped the bottom line. Please remind your fellow group members we depend on the group’s contributions fund the rapidly expanding fellowship services.
The combined Cost of Goods Sold (COGS) was $68,229 which was a little higher than the prior month’s COGS. This left WSO a Gross Income of $41,803 before expenses.
Overall WSO Expenses were $31,554 compared to $36,595 the month before. These expenses include payroll, overhead, and operating expenses. After deducting the expenses from the Gross Profit WSO was left with a net income of $10,269 for the month.
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