DATE: September 11, 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 July 2024 financial reports are attached.
The Balance Sheet illustrates PPACG assets, liabilities, and fund equity. Assets as of July 31, 2024, were $4,889,652. This is an increase of $453,452 over year end 2023. Total Assets include Cash of $2,397,651 and Accounts Receivable of $2,008,261. Liabilities as of July 31, 2024, were $1,599,389. This is an increase of $282,639 over year end 2023. Total Liabilities include Accounts Payable of $851,386 and Unearned Revenue of $526,514. Total Equity as of month end July 31, 2024, was $3,290,264.
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 July 31, 2024, was $6,930,989. This is 50% under the total 2024 budget. Year to date Expense as of July 31, 2024, was $6,760,174 and is 51% under total 2024 budget. Net Revenue over Expense as of July 31, 2024, was $170,815.
I am available to address any questions that Board members may have about the report information.