Dear Board and Fellow ACA Members,
Here are the December 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 $755,159 in Total Assets. This is an increase of $54,435 from the previous month of $700,724.
Our Total Cash and Cash Equivalents (Account 1000) increased by $50,499, Inventory Assets (Account 1400) increased by $11,413, while Prepaid Expenses decreased by $4,373. Overall, we had a net increase of Total Assets $54,435.
WSO’s Total Liabilities and Equity was $755.159 at the end of the period. This is an increase of $54,435 from the previous month. Accounts Payable increased $36,2580, which includes an invoice for book purchases, and Other Liabilities increased by $7,367 over the prior month. Year-To-Date net income is $120,262.
Profit & Loss Statement – Current and Previous Month
Looking at the P&L we can see Total Income for the month was $120,051 which was an increase of $16,106, or 15.5% in income from $103,945 the month before. This is about 7.7% over our budgeted income amount of $111,484.
The combined Cost of Goods Sold (COGS) was $65,413 which was more than the prior month’s $55,771 COGS due to the increase in sales. This left WSO a Gross Profit of $54,638 before expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $44,668 this month, which were higher than the prior month by $6,169. This resulted from a small increase as compared with the prior month in Contractor Costs, Inventory Adjustments, and Travel Expenses (an expense from the prior year). After deducting the expenses from the Gross Profit WSO was left with a net income of $9,970 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 $120,051 was $8,566 or about 7.7% more than what we budgeted. Book sales were down in Signal Hill and higher on Amazon against the budget. The 7th Tradition Contributions exceeding Budget by $18.585. See section below regarding 7th Tradition Contribution Report.
Our expenses were 21.5% higher than budgeted, by $7,905. Overall, for the month we under performed by $2,225 against a Budgeted Net Income of $12,194, resulting in an actual Net Income of $9,970.
If after reviewing 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 $30,092 in 7th Tradition Contributions for the month from members, groups, intergroups and regions, including a WEB Group contribution of $3,000. Our ACA anniversary campaign of $7 for the 7th brought in $1,265. Also notable, there were 9 contributions that were $500 or more. This resulted in an increase of $7,133 total donations from prior month. Traditionally end of the year giving is higher than other months of the year. 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 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 team and learn more about the finances of WSO.
Bill D., Treasurer