[Businessmtg] TREASURER REPORT to BM - November 2018

[Steve Rankin]

Hi ASPers,

 

I am submitting the November Treasurer's Report as your Treasurer Pro Tem. 

 

As Jerry mentioned, the transition from the previous Treasurer(s) is not
quite complete. This process has been very challenging, incredibly
frustrating and astonishingly time consuming. Partly because of things not
done by our previous Treasurer, and partly by PayPal policies and support.
The details of both have been reported to the Steering Committee ad nauseum,
but are not appropriate to discuss here in the Business Meeting. 

 

The good news is that the transition process is virtually complete. We are
just waiting for end of month bank statements to wrap it up. 

 

The two financial reports are modified versions of traditional financial
reports:

.       Income and Expense Statement 

.       Balance Sheet

 

This is actually very simple. The Income and Expense Statement shows the
INCOME - funds that have come into ASP - and the EXPENSES - funds that have
left ASP due to expenses during a specific period of time such as a month or
quarter. The Income and Expense Statement does not show you how much money
we have, however. That is the job of the Balance Sheet which I will discuss
in a moment.

 

If you look at the Income and Expense Statement you will see that ASP has
had no income recently. However, we have had expenses, so the "Net Income"
is a negative number. This tells us that we are spending more than we are
receiving from the Seventh Tradition. That is most likely because we haven't
had any Seventh Tradition announcements in the meeting for a while. 

 

The Balance Sheet is a snapshot of how much money we have on a specific
date, typically the end of the month for the reporting period. A Balance
Sheet also shows where those funds are and what liabilities the organization
may have.   

 

If you look at the Balance Sheet, you will see that we do have money in the
bank account, however we also have liabilities. That is because I provided
the funds to open the new bank account, get a new PO Box and order checks.
Another complication with PayPal is that some funds (donations) have
expiration dates. The gist of it is that if those funds are not transferred
to the bank account before the expiration date, PayPal returns the money to
the sender. But, we couldn't transfer the money to our bank account because
PayPal wouldn't link to the new bank for several weeks. So, to avoid losing
$238.76, I transferred those funds to my PayPal account while we resolved
the issues with PayPal. I thought that was resolved a few days ago and the
funds have been returned to the ASP PayPal account, but yesterday PayPal
balked when I tried to transfer that money to our new bank account. More
shall be revealed, I guess.  

 

Once the dust has completely settled after the October bank statements and
donations start coming in again, I should be able to reconcile the bank
accounts and determine that we do have enough money to reimburse the $300 I
fronted ASP, as well as pay for our server and still have enough money in
the bank to avoid monthly fees. Those details will be part of the January
Treasurer's Report. 

 

Lastly, I'd like to say something about our current Steering Committee. As
y'all know, I've been around ASP since the gitgo and I've seen a lot of
water go over the dam in the last 22+ years. Not all of it smooth and clear.
What I'm seeing recently is the best Steering Committee in ASP history. Not
only is everyone doing the job you elected them to do - which doesn't always
happen -  everyone is participating in the Steering Committee discussions.
To be sure, not everyone agrees on every detail. That's a good thing. J
Anyway, I just wanted to say that so the folks in the Business Meeting would
know how good a job your trusted servants are doing - each doing their
individual jobs and working together very well.  Thank you!       

 

Love and SERENITY,

Steve

 

 

 

 

 

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