March 2017 & Fiscal 2017 Financial Recap

by Justin Ford, Chief Financial Officer

5th May 2018

Happy Cinco de Mayo to everyone its time for another financial update and the final month of fiscal 2017. Below you will see March's income and expense report accompanied by the balance sheet. You may be wondering why the organized play expense category is showing negative. I have classed our regional processing fees into this category since it directly relates to organized play to get a better idea of how this fee that we assess every year impacts our net expense for organized play supplies for the organization. You can also see our Accounts Receivable category is almost paid in full.

March Income Statement

March Balance Sheet

Now to talk about 2017 as a whole. With one year under ourselves I can report that our total income for 2017 came to $11,430.55 of which $2,276.55 came from other income which included the realized income from the Chairman's debt as well as the invoices sent out for 10th Anniversary T Shirts. Our total expenses for 2017 came to $7,693.16 of which $1,920.74 came from the basic operating necessities and $2,482.68 in miscellaneous expense came from mostly 2017 worlds prize packages. We finished 2017 with $3,482.62 cash available which is a good position to be in where we have the solvency to keep the basic functions running for approximately 21 months. Below you will find the 2017 Summary Report which includes the total entries generated by the accounting system I am using, the final income statement & balance sheet, and the post closing balance sheet which is the starting point for Fiscal Year 2018.

2017 Summary Statement

2017 Post Closing Balance Sheet

Look very soon for an update on the incorporation status of the organization, and like always any comments, questions, or concerns please feel free to drop me a PM or leave a comment/question in the discussion thread for this article.

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