Gene Klodzen
01-04-2002, 02:27 AM
The following report is from NAWCC Treasurer David Wood, and posted for your information. Mr. Wood can be reached for comment at davhalwood@prodigy.net
Subj: November Financial Report
Date: 1/3/2002 11:53:16 AM Eastern Standard Time
From: davhalwood@prodigy.net (David Wood)
To: nawccnews@nawcc.org (NAWCC News)
Following is the text of the cover memo to the November financial
report.
November's net operating result was $3 thousand positive. That's $15
thousand better than budget due to favorable expenses and improved
school revenues. Dues at $101 thousand were somewhat weak--back to the
level of June-August, $6 thousand below budget and $14 thousand below
last year. Museum revenues were on budget in total.
For the full year to date, our net cash operating result is a positive
$17 thousand, which is somewhat short of budget but clearly better than
last year. The picture remains that spending is tighter than both budget
and last year, but key revenues are weaker. So far the lower spending
levels are the stronger factor, but revenue declines can catch up and
drive overall results negative again.
No transfers were made from investments in November to pay operating
expenses. The end-November gross liquidity reserve (investments less
loan balance) was $1.330 million, a $50 thousand decrease from October
due to a market value decline which was to be expected. Trade accounts
payable ended the month at $119 thousand, a $10 thousand increase over
October but in an acceptable range.
David Wood
Treasurer
This report has been edited to correct the email reply link. GK
[This message has been edited by Gene Klodzen (edited 01-04-2002).]
Subj: November Financial Report
Date: 1/3/2002 11:53:16 AM Eastern Standard Time
From: davhalwood@prodigy.net (David Wood)
To: nawccnews@nawcc.org (NAWCC News)
Following is the text of the cover memo to the November financial
report.
November's net operating result was $3 thousand positive. That's $15
thousand better than budget due to favorable expenses and improved
school revenues. Dues at $101 thousand were somewhat weak--back to the
level of June-August, $6 thousand below budget and $14 thousand below
last year. Museum revenues were on budget in total.
For the full year to date, our net cash operating result is a positive
$17 thousand, which is somewhat short of budget but clearly better than
last year. The picture remains that spending is tighter than both budget
and last year, but key revenues are weaker. So far the lower spending
levels are the stronger factor, but revenue declines can catch up and
drive overall results negative again.
No transfers were made from investments in November to pay operating
expenses. The end-November gross liquidity reserve (investments less
loan balance) was $1.330 million, a $50 thousand decrease from October
due to a market value decline which was to be expected. Trade accounts
payable ended the month at $119 thousand, a $10 thousand increase over
October but in an acceptable range.
David Wood
Treasurer
This report has been edited to correct the email reply link. GK
[This message has been edited by Gene Klodzen (edited 01-04-2002).]