Dear Board and Fellow ACA Members,
Here are the November 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 $730,990 in Total Assets. This is an increase of $14,396 from the previous month of $716,593.
Our Total Cash and Cash Equivalents (Account 1000) increased by $30,623, while Inventory Assets (Account 1400) decreased by $14,520. Overall, we had a net increase of Total Assets $14,396 once we factor in the Fixed Assets.
WSO’s Total Liabilities and Equity was $730.990 at the end of the period. This is an increase of $14,396 from the previous month. Accounts Payable decreased $3,868 and Other Liabilities decreased by $535 since the prior month. Year-To-Date net income is $111,636.
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. Our Total Income of $104,014 was $7,470 or about 7% less than what we budgeted. Book sales were down in Signal Hill and slightly higher on Amazon against the budget. The 7th Tradition Contributions exceeding Budget by approximately $11.5K partly due to one member’s donation of $5,000 and the request for more contributions from members and groups. Traditionally end of the year giving is higher than other months of the year.
Our expenses were 3.4% higher than budgeted, by $1,240. Overall, for the month we under performed by $1,459 against a Budgeted Net Income of $12,194, resulting in an actual Net Income of $10,735.
If after reviewing 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 $22,959 in 7th Tradition Contributions for the month from members, groups, intergroups and regions, including an individual member contribution of $5,000. There was an increase of $2,070 total donations from prior month. A huge thank you to those who responded to the $7 for the 7th program which was a request for each member to give an individual contribution of $7 as a way to help celebrate ACA’s 43rd Birthday coming up in January. As always thanks to those members, groups, Intergroups, and regions 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 firstname.lastname@example.org. Please let your fellow travelers know ACA depends on contributions to fund the rapidly expanding fellowship services’ needs.
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