Dear Board and Fellow ACA Members,
Here are the September Financial Statements for your review. Please bear in mind these are not audited statements and may be subject to revision later. 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 $807,021 in Total Assets. This is an increase of $77,810 from the previous month of $729,211.
Our Total Cash and Cash Equivalents (Account 1000) increased by $18,210. Our inventory assets also increased by $49,496. We also increased our prepaid expenses.
WSO’s Total Liabilities and Equity was $807,021 at the end of the period. This leaves us with a Year-To-Date net income of $97,458.
Profit & Loss Statement – Previous Month
Looking at the P&L we can see Total Income for the month was $99,002 which was a decrease of $7,726 in income from $106,727 the month before. This is about 11% under our budgeted income amount of $111,484. Please let your fellow travelers know ACA depends on contributions to fund the rapidly expanding fellowship services needs.
The combined Cost of Goods Sold (COGS) was $61,871 which was slightly less than the prior month’s COGS due to a decrease in sales. This left WSO a Gross Income of $37,130 before expenses.
Overall WSO combined Expenses were $40,618 this month. These expenses include payroll, overhead, and operating expenses. These expenses were 11% higher than budgeted due to an unplanned charge from the accountants for processing all the state tax returns and paying the back-state sales taxes. That was one-time charge and now that we have set all of our sales tax states to autofile there won’t be any additional costs going forward from the accountants. After deducting the expenses from the Gross Profit WSO was left with a net loss of ($3,488) for the month.
P&L Actual to Budget
This report that shows us how we are performing monthly compared to the approved budget. We did not meet our budget for the month in total income. This was due mainly to lower than forecast literature sales at Signal Hill and in Europe. This was partially offset by better than budgeted sales in Amazon.
Our expenses were higher than budgeted by $3,854 due mainly to the higher accounting fee for the back-sales tax processing and payments. Overall, for the month we underperformed the budgeted $12,194 net income by ($15,682).
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 $12,384.22 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. This is down about 11% from the prior month. 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 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