Treasurer's Report and Finance Committee Report - December 2016

Treasurer's Report

December was a good month for sales, although it's traditionally a little slower than other months because of the holidays.  The P&L Statement shows that there was a net profit of $4,288.  There was also an increase in 7th Tradition Contributions as WSO received additional individual contributions before the year end.  Contributions are listed separately in the left menu.  The Balance Sheet is available here

Finance Committee

Committee members: Jeffrey F. - Prague, David M. - Florida, Charlie H. - Virginia, and Mary Jo L., Treasurer - Illinois

The Committee spent considerable time analyzing costs and overhead for the Chips and Medallions. Because these products are not currently profitable, we prepared two motions to raise prices.  We also prepared motions to implement a previous motion that was passed regarding pulling the least selling tri-folds from the shopping cart that are to be made available through download from the website and also in the tri-fold assortment.  All remaining tri-folds will now be packaged in multiples of 20 with a price increase. 

Additionally, we prepared a motion to present chips and medallions to attendees at a ceremony at the ABC/AWC in April. We also prepared a motion to implement a per diem reimbursement for meals that will save a great deal of time and effort for Board members and our Accountant. 

We are also working on the 2017 budget along with changing the Chart of Accounts to more accurately reflect additional channels of distribution and other structural financial changes.

Respectfully submitted,

Mary Jo L., ACA WSO Treasurer