Dear Board and Fellow ACA Members,
Here are the August 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 $756,792 in Total Assets. This is an increase of $75,080 from the previous month of $681,712.
Account 1000 which is our Total Cash and Cash Equivalents increased by $50,112. Our inventory assets also increased by $34,616.
WSO’s Total Liabilities and Equity was $756,792 at the end of the period. This still leaves us with a Year-To-Date net income of $106,670. This is primarily 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 and the payoff of about $80,000 in back sales taxes which removed that accrued liability from the balance sheet.
Profit & Loss Statement – Previous Month
Looking at the P&L we can see Total Income for the month was $106,668 which was a little bit down from $113,209 the month before. This was a decrease of $6,542 in income for the month, which is still about a 4% increase over our budgeted monthly target income amount of $102,420. Please remind your fellow travelers we depend on contributions to fund the rapidly expanding fellowship services side of the fellowship. It is part of spiritual responsibility to to ACA.
The combined Cost of Goods Sold (COGS) was $61,009 which was slightly less than the prior month’s COGS due to an overall decrease in sales. This left WSO a Gross Profit of $45,658 before expenses.
Overall WSO Expenses were down from $30,065 to $20,985 this month. These expenses include payroll, overhead, and operating expenses and we had less staff working this past month due to two leaves of absence. After deducting the expenses from the Gross Profit WSO was left with a net income of $20,985 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 slightly below budget for total income for the month in by $4,816 due mainly to lower than forecast literature sales out of our warehouse in Signal Hill. This was partially offset by better than budgeted sales in Amazon and improved 7th Tradition contribution for the month.
Our expenses were also lower than budgeted by $13,724 due in part to lower payroll due to staff leave of absences and a significant gain of $5,637 in Foreign Exchange fees from transferring international funds from Paypal at a time that was more favorable to the US dollar than when they were originally received. Overall for the month we out performed the budget by $10,560.
If after your review you these financial statements you have any questions, please feel free to contact me at email@example.com or on Slack at Bill_D_Treasurer.
7th Tradition Contribution Report:
WSO received $13,542.86 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. This is up approximately 23% from the $11,000 per month we budgeted. A huge thank you to those who contributed to help ACA continue to meet the growing need of the program throughout the world.
WSO has created an electronic 7th Tradition basket using the app Venmo with our account name @acawso for contributions from inside the US. We 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 firstname.lastname@example.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.
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