May 2010 WFPA Board Meeting

Treasurer’s Report

 

Current Accounts Summary:

 

                                                                                   

 

Last Month

This Month

Change

Checking

$2,325

$2,712

$387

Savings

$130,339

$148,356

$18,017

Total

$132,664

$151,068

$18,404

 

 

 

Monthly Comparisons

Year to Date Comparisons

 

Budget

Actual

Actual

Budget

Actual

Actual

 

Apr. ‘10

Apr. ‘10

Apr. ‘09

Apr. ‘10

Apr. ‘10

Apr. ‘09

Revenues

$22,171

$21,181

$26,271

$142,333

$134,597

$141,837

Expenses

$8,464

$2,937

$7,923

$116,367

$104,673

$78,452

Net Income

$13,707

$18,244

$18,348

$25,966

$29,923

$63,385

 

Notes:

 

  1. April dues collections were $20,534 compared to $26,950 collected in March.  Dues collections from January to April for 2010 are now tracking at 14% less than last year (versus 28% less last month),which confirms last months belief that a large part of the difference was earlier timing of the 2009 dues campaign.  Number of donors are tracking at a 9.6% decline for the same period.  Average dues collected through 226 donations was $228 (versus 250 donations with an average of $240 for the comparable period last year). 
  2. Expenses, were under budget at $2,937 and lower than April ’09 by a similar amount. 
  3. Net income as a result, was $18,244 and essentially flat with 2009.  Net income did exceed budget by approximately $5,000 due to deferred expenses including building, newsletter and district expenses.    
  4. Designated donations for the EMS of over $16,500 helped level off the lower other revenues this year to bring total income to $134,597, $7,240 lower than last year’s revenues. 
  5. Extraordinary expenses related to the Craft Show and legal expenses continue to reflect a net $26,221 negative variance to last YTD.  Year-to-date actual to budget is favorable at $3,957  due to tighter control of budget expenses and delay of some expenditures.           
  6. WFPA will probably not hit its budgeted net income of $37,685 by the end of this fiscal year, but will likely exceed $32,000, a very good showing given the state of the economy during the past fiscal year.
  7. Cash position remains strong at over $151,000 as of 4-30-10 and represents 1.25X curent year total budgeted expenses of $120,092.

 

Material Financial Activity for April 2010

 

Income:

Donations                              $   20,534

Pancake Breakfast               $        390

Merchandise                          $        257

Total                                        $   21,181

 

 

Expenses:

Utilities & Communications $        914       Qwest, APS, Dispatch and propane

Medical Supplies/Warranty  $          580

Dues & Membership            $        970       Dues and newsletter

Pancake Breakfast               $        389

Other                                       $          84                  

Total Expenses                     $      2,937                 

 

 

Other Financial Activities/Discussion: