January ‘10 WFPA Board Meeting

Treasurer’s Report

 

Current Accounts Summary:

 

                                                                          

   Last Month This Month  Change

Checking

$11,500

$7,755

-$3,745

Savings

$96,288

$104,299

$8,011

Total

$107,788

$112,054

$4,266

 

 

 

Monthly Comparisons

Year to Date Comparisons

 

Budget

Actual

Actual

Budget

Actual

Actual

 

Dec. ‘09

Dec. ‘09

Dec. ‘08

Dec. ‘09

Dec. ‘09

Dec. ‘08

Revenues

$5,757

$12,468

$4,261

$71,651

$78,923

$65,128

Expenses

$5,295

$4,557

$4,517

$89,618

$89,422

$49,092

Net Income

$462

$7,911

-$256

-$17,967

-$10,499

$16,036

 

Notes:

 

  1. December reflected a net cash increase in the operating accounts of $4,266, due to over $8,500 in EMS fund donations with one very large anoymous donation helping to reach a close out of the fund along with $516 in special one time Pancake Breakfast collections.  In addition,  $3,385 in annual dues was also collected. 
  2. This resulted in a favorable comparison to last December 2008 and budgeted revenues of $4,517 and $5,757 respectively.   Thw WFPA did not have any large expenses for the month and spent less than $3,700 after newsletter postage expenses and merchandise purchases.  December profitability compared very favorably to last year and budget with almost $8,000 in profits.      
  3. The stronger December results contributed to a $7,000 pickup in both revenues and profitability over budget for the month.  Revenues were slightly less than $79,000 for the seven-month interim period and the year to date loss improved to $10,500 versus budget at almost $18,000.  Expenses were effectively managed at budget.      
  4. The WFPA continues to report higher revenues and a higher loss when compared with the same seven-month period in 2008.  Primary drivers of the $40,000 in higher interim expenses remain the Arts and Crafts Show expenses ($19,668 net of other fundraising expenses), legal ($10,244 difference),  turnout expense ($7,946), vehicle repair ($5,800) and payroll expenses ($4,500). 
  5. Revenue sources are expected to remain lite until the 2010 dues drive begins, sometime between February and March.  Although dues revenue through 12-31-09 is roughly only half of the $33,000 amount collected in the prior year, cash reserves at 12-31-09 remain strong and represent 93% of total FY 2009 expenses and 370% of budgeted expenses for the remainder of the year.  Financial condition for the WFPA is good going into its lean revenue months and a considerably stressed economic environment.

 

 

 

 

 

 

 

 

 

Material Financial Activity for December 2009

 

Income:

Donations                              $     3,952

EMS Donations                     $     8,516

Total                                        $   12,468

 

 

Expenses:

Equip, Repairs &Fuel           $     1,607      

Payroll                                    $        437      

Utilities & Communications $        624       Qwest, APS and Dispatch

Newsletter Postage              $        518      

Merchandise                          $        361

Building Expense                  $        451

Other                                       $        559      

Total Expenses                     $      4,557                 

 

 

Other Financial Activities/Discussion:

  • The fall/winter newsletter was mailed in November.
  • A $1,200 merchandise order is payable in January for merchandise ordered in December.