Gene Klodzen
03-03-2002, 07:03 AM
The text of the cover memo to the January Financial Report, and sent to NAWCC NEWS, is as
follows:
January's net operating result was $9 thousand positive. Member dues of
$141 thousand were the highest this year and, although below budget and
last year, were stronger than I expected after December's big inflow.
School revenues were also the highest this year, reflecting filled
classes. This was a 3-payday month and so showed a spike in the month's
compensation expenses. That spike was largely offset because we had very
low printing expenses during the month.
For the full year to date, our net cash operating result is a positive
$71 thousand. This is substantially better than budget or prior year
despite declining dues, primarily because of successful efforts to
reduce costs, with revitalization of the School now also a factor.
Several central inflow items--donations and miscellaneous income--are
also helpfully stronger than budget.
Trade accounts payable ended the month at $29 thousand, a $31 thousand
decrease from December's already low level. Of that decrease, $20
thousand was for the one item still outstanding from new building
construction (an exhibit, on which we'll owe another $20 thousand once
completed). The end-November gross liquidity reserve (investments less
loan balance) was $1.322 million, a minor $3 thousand decrease from
December and still well above prior year. We've not tapped the reserve
to pay operational expenses since October. Overall, we're in clearly the
best shape in recent years from the standpoint of available funds vs.
amounts owed.
At this point it appears that we'll end the fiscal year with positive
cash flow and materially improved net liquidity. Those will be good
results in a turbulent year and give us good positioning for a new year
with different and probably more challenging issues.
David Wood, Treasurer
davhalwood@prodigy.net
follows:
January's net operating result was $9 thousand positive. Member dues of
$141 thousand were the highest this year and, although below budget and
last year, were stronger than I expected after December's big inflow.
School revenues were also the highest this year, reflecting filled
classes. This was a 3-payday month and so showed a spike in the month's
compensation expenses. That spike was largely offset because we had very
low printing expenses during the month.
For the full year to date, our net cash operating result is a positive
$71 thousand. This is substantially better than budget or prior year
despite declining dues, primarily because of successful efforts to
reduce costs, with revitalization of the School now also a factor.
Several central inflow items--donations and miscellaneous income--are
also helpfully stronger than budget.
Trade accounts payable ended the month at $29 thousand, a $31 thousand
decrease from December's already low level. Of that decrease, $20
thousand was for the one item still outstanding from new building
construction (an exhibit, on which we'll owe another $20 thousand once
completed). The end-November gross liquidity reserve (investments less
loan balance) was $1.322 million, a minor $3 thousand decrease from
December and still well above prior year. We've not tapped the reserve
to pay operational expenses since October. Overall, we're in clearly the
best shape in recent years from the standpoint of available funds vs.
amounts owed.
At this point it appears that we'll end the fiscal year with positive
cash flow and materially improved net liquidity. Those will be good
results in a turbulent year and give us good positioning for a new year
with different and probably more challenging issues.
David Wood, Treasurer
davhalwood@prodigy.net