June 2010 WFPA Board Meeting

Treasurer’s Report

 

 

Current Accounts Summary:

 

                                                                                   

 

Last Month

This Month

Change

Checking

$2,712

$3,423

$711

Savings

$148,356

$148,356

$0

Total

$151,068

$151,779

$711

 

 

 

Monthly Comparisons

Year to Date Comparisons

 

Budget

Actual

Actual

Budget

Actual

Actual

 

May ‘10

May ‘10

May ‘09

FYE ‘10

FYE ‘10

FYE ‘09

Revenues

$15,444

$11,396

$18,535

$157,777

$145,993

$160,370

Expenses

$3,725

$14,115

$8,186

$120,092

$118,825

$85,979

Net Income

$11,719

-$2,719

$10,349

$37,685

$26,612

$74,391

 

Notes:

 

  1. This report represents the final May numbers (Annual Meeting report reflected a 5-25-10 cutoff), and a noted correction of the “Budget May 2010” Revenues, Expenses and Net Income  numbers cited in that report of $22,171, $8,464 and $13,707, respectively.
  2. May dues collections were $8,800 and off significantly from $20,534 in April.  This is a similar trend as compared with last year with $7,775 May ’09 dues collections, and reflective of the “burst” of donations received immediately following the 3-8-10 dues request.
  3. Dues collections of $58,488 from January to May 2010 are down 14.5% ($9,797) from the same period last year.  Number of donors are tracking at a 6% decline for the same period.  Average dues collected through 261 donations was $224 (versus 278 donations with an average of $243 for the comparable period last year).  The dues decline is split almost evenly between 17 fewer donors and the average dollar donation decline. 
  4. Expenses for the month were $10,390 over budget, due to the purchase of firefighter gear ($1,800), newsletter and dues collection expenses ($1,245), insurance ($2,723 prepaid in May vs. June), payroll ($2,143) and end-of-year booking of vehicle depreciation expense ($3,079).    
  5. The net loss of $2,719 resulted from lower than projected revenue and considerably higher expenses for the month (21.8% from non-cash, depreciation expense).     
  6. Designated donations for the EMS truck of $16,500 helped offset lower revenues to bring total income to $145,993, however, that was still $14,377 lower than 2009 revenues. 
  7. The WFPA missed budgeted revenues by $11,784 or approximately 7.5% and net income by $11,073 (29%).  
  8. Cash position remains strong at over $151,000 as of FYE and represents 1.26X curent year total budgeted expenses of $120,092.

 

 

 

 

 

 

Material Financial Activity for May 2010

 

Income:

Donations                                          $     8,800

Pancake Breakfast                           $        832

Mayorial Election                              $        197

Merchandise                                      $        785

Other                                                   $        782       $250 special donation for legal-Herrin

Total                                                    $    11,396

 

 

Expenses:

Utilities & Communications             $        822       Qwest, APS, Dispatch and propane

Insurance                                            $     2,723       VFIS

Depreciation (vehicles)                    $     3,194

Dues & Membership                        $     1,246       Dues and newsletter

Payroll                                                $     2,144

Firefighter Exp. & Gear                    $     2,483

Medical                                              $        628

Office                                                  $        205

Training                                              $        170

Merchandise                                      $        300

Other                                                   $        201

Total Expenses                                 $   14,115      

 

 

Other Financial Activities/Discussion: