DATE: October 9, 2024
TO: PPACG Board of Directors
FROM: Carol McBroom, Finance Director
THROUGH: Andrew Gunning, Executive Director
SUBJECT: Summary Financial Reports
ACTION REQUESTED: Information Only
SUMMARY
The August 2024 financial reports are attached.
The Balance Sheet illustrates PPACG assets, liabilities, and fund equity. Assets as of August 31, 2024, were $5,193,057. This is an increase of $756,857 over year end 2023. Total Assets include Cash of $2,164,571 and Accounts Receivable of $2,374,238. Liabilities as of August 31, 2024, were $1,893,581. This is an increase of $576,831 over year end 2023. Total Liabilities include Accounts Payable of $1,078,953 and Unearned Revenue of $591,177. Total Equity as of month end August 31, 2024, was $3,299,477.
Statement of Revenue and Expenses shows year-to-date income and expenses as compared to budgeted amounts and budget variances. Year to date Revenue as of August 31, 2024, was $8,063,226. This is 42% under the total 2024 budget. Year to date Expense as of August 31, 2024, was $7,883,199 and is 43% under total 2024 budget. Net Revenue over Expense as of August 31, 2024, was $180,028.
I am available to address any questions that Board members may have about the report information.