Dear Board and Fellow ACA Members,
Here are the October 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 $716,586 in Total Assets. This is a decrease of $90,697 from the previous month of $807,283.
Our Total Cash and Cash Equivalents (Account 1000) decreased by $91,370. This is because of a $66,000 payment for book purchases and $25,000 in payments for other expenses that were liabilities from the prior month
WSO’s Total Liabilities and Equity was $716,586 at the end of the period. Accounts Payable decreased $65,485 and Other Liabilities decreased by $28,000 since the prior month. The Year-To-Date net income is $101,297.
Profit & Loss Statement – Current and Previous Month
Looking at the P&L we can see Total Income for the month was $98,241 which was a decrease of $3,540 (or 3%) in income from $101,780 the month before. This is about 11.9% under our budgeted income amount of $111,484.
The combined Cost of Goods Sold (COGS) was $53,914 which was less than the prior month’s $62,450 COGS due to a decrease in sales. This left WSO a Gross Profit of $44,326 before expenses.
Overall WSO combined Expenses were $40,674 this month. These expenses include payroll, overhead, and operating expenses. These expenses were slightly higher than the prior month. There was in increase in Payroll costs with an offsetting decrease in accounting expenses from the prior month. After deducting the expenses from the Gross Profit WSO was left with a net income of $3,652 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 partially offset by better than budgeted sales in Amazon and 7th Tradition Contributions.
Our expenses were 13% higher than budgeted, by $6,089, due mainly to the higher Payroll costs due to the hire of a new special worker, and payment of prior year unused vacation accrual. Overall, for the month we overperformed by $1,458 over a budget of $2,194, resulting in net income of $3,652.
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 $20,888.83 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. This also includes a Bequest of $7,500, resulting in an increase of $8,504 total donations 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. Please let your fellow travelers know ACA depends on contributions to fund the rapidly expanding fellowship service needs.
To see the list of 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.
Click here to see a Graph of 2020 monthly 7th Tradition Contributions
Click here to see a Graph of 2013 to 2020 YTD Annual 7th Tradition Contributions
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