Board of Directors – July 10, 2024: Financial Reports


DATE: July 10, 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 May 2024 financial reports are attached.

The Balance Sheet illustrates PPACG assets, liabilities, and fund equity. Assets as of May 31, 2024, were $4,740,477. This is an increase of $304,277 over year end 2023.  Total Assets include Cash of $2,355,527 and Accounts Receivable of $1,915,921. Liabilities as of May 31, 2024, were $1,527,437. This is an increase of $210,687 over year end 2023. Total Liabilities include Accounts Payable of $615,586 and Unearned Revenue of $692,928. Total Equity as of month end May 31, 2024, was $3,213,040.

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 May 31, 2024, was $4,615,939. This is 67% under the total 2024 budget. Year to date Expense as of May 31, 2024, was $4,522,348 and is 67% under total 2024 budget. Net Revenue over Expense as of May 31, 2024, was $93,591.

I am available to address any questions that Board members may have about the report information.

ATTACHMENT(S)