4.1 - Financial Report

Due to the early SkillsUSA competition this year, I was unable to balance the May accounts in time to produce a Balance Sheet and Statement of Activity for today's meeting.

In the interim, I can report that revenue for May was $25,623.71, which is below the initial projection of $33,000. This shortfall is primarily due to ARDA sales being $5,000 to $6,000 lower than the four-year average for the same period.

On the other hand, we projected expenses of $21,400 but only spent $20,457.41. While a minor improvement, this figure includes paying off the credit card balance in full.

Based on the plan from the April 1 Board meeting, this month's projections are $62,700 in revenue and $33,600 in expenses. Assuming ARDA recovers and these targets are met, we are still on track to break even by the end of the fiscal year and pay down a portion of our current $21,000 credit card debt.

I will be preparing a comprehensive report that mirrors the structure and content of the one presented back in April. This new report will provide a detailed analysis and will also include my financial and performance projections for the first quarter of the next fiscal year, which corresponds to Q3 of the 2026 calendar year.

Bank Statement Report (i.e., "cash accounting):