4.6.1 - Financial Report
Highlights of the Statement of Finacial Position, dated October 31, 2020.
- Revenue is almost 8% ahead of last year at this time.
- Expenditures are more than 10% less than at this time last year.
- Cash-flow is 1,400% greater year-over-year.
- However, revenue is $11,000 short of our budget projection. This can be attributed to conferences, essentially the only revenue category that is in the negative compared to last year.
- On the opposite side of the financial scale, expenditures are down $38,000 compared to budget projections.
- The result is a positive income to date of $27,500.
Highlights of the Statement of Financial Position, dated October 31, 2020.
- Cash-on-hand is substantially higher than October 2019, thanks to the PPP Loan.
- As a result, our net equity, even with $40,325 in debt, is 28.65% up year-over-year.
- The PPP Loan forgiveness application will be submitted in the month of December, rumors are it could take six months for the approval from the SBA.