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Brian W.- WSOB Treasurer
I submitted a report
Finance Committee Report
INTRODUCTION AND OPENING COMMENTS:
The Finance Committee met during the C.A. World Services Convention in Los Angeles. We also had phone and email communication throughout the year. The committee’s focus during the year was to finish the ìFinancial Guidelines for Cocaine Anonymous’. This was a project, which stemmed from three referrals received in 2002 (#2131,2602,2672). The outcome of this project was included in your last Delegate mailing, pursuant to S.R. 14. Our other major project is a continuation of the Cocaine Anonymous World Services Contribution Program. We are looking at new ways to get the message out about this incredibly innovative program that is designed to help C.A. grow financially and allow us to carry the message at this level.
COMMITTEE INTRODUCTIONS:
Returning committee members:
WSC Finance Chair – Brian M. T.
WSO Treasurer Brian – K. W.
Trustee Representative -Elizabeth S.
Idea People Heidi J., Skip H.
New Members: Debbie D., Paul P.
REFERRALS THAT WERE WORKED UPON DURING THE YEAR:
The Committee will be focusing on continuing its goal of “full funding for needed world services,” of making C.A.W.S. fully self-supporting with adequate reserves. We will look to educate the fellowship so we can have the funds necessary to continue the growth of the fellowship in accordance with our Twelve Traditions. We will also be working on
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next year’s budget (“The absolute most fun one can have in life”). The budget will be based on the C.A.W.S. Internal budget.
CLOSING COMMENTS:
In your registration packets you received a copy of the C.A. World Services Contribution Program. PLEASE, help us continue to get this program off the ground and rolling by signing up NOW. Even a small amount, $5 or $10 a month, multiplied by all of you would be a great start to helping the W.S.O. carry the message. Of course we will also be more than happy to accept larger contributions. Thank you in advance to all of you who choose to participate. The committee welcomes your referrals and we are looking for fresh faces and ideas in the exciting and invigorating field of finance! We are a small but intimate group, so come join us as we trudge the road of happy fiscal responsibility.
With a balance sheet and break down of the expenses including Trustee Expenses etc.
Cocaine Anonymous World Service Office
Draft Budget Overview
July 2005 through June 2006
| Draft YE 2006 | ||
| Income | ||
| 400401 | Sales -Chips & Lit | 170,000.00 |
| 400402 | Sales – Books | 50,000.00 |
| 400402 | Sales – Vol 2 Book | 20,000.00 |
| 400404 | Merchandise Shipping | 30,000.00 |
| 400406 | Contrib – 7th Tradition | 95,000.00 |
| 400407 | Contrib – 7th Donor | 3,000.00 |
| 400409 | Royalties | 1,200.00 |
| 400410 | Interest Income | 1,000.00 |
| 804800 CAWS 2006 | 126,000.00 | |
| Total Income | 496,200.00 | |
| Gross Profit | 496,200.00 | |
| Expense | ||
| 500500 | Program Services | 315,000.00 |
| 600600 | Administrative Expenses | 45,000.00 |
| 711000 | Atantic North | 5,050.00 |
| 712000 | Atantic South | 5,000.00 |
| 713000 | Midwest | 5,000.00 |
| 714000 | Southwest | 5,000.00 |
| 715000 | Pacific North | 5,000.00 |
| 716000 | Pacific South | 3,000.00 |
| 721000 WSO Trustee | 2,600.00 | |
| 722000 World Service Trustee | 2,600.00 | |
| 723000 | Trustee @ Large 1 | 2,000.00 |
| 724000 | Trustee @ Large II | 2,000.00 |
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| 726000 | Trustee Election Commit | 500.00 |
| 751000 | Structures & Bylaws | 250.00 |
| 752000 | Lit. Chips & Formats | 575.00 |
| 753000 | Hospitals & Institutions | 525.00 |
| 754000 | Conference Committee | 13,800.00 |
| 755000 | Convention Committee | 300.00 |
| 756000 | Public Information | 300.00 |
| 757000 | Unity Committee | 300.00 |
| 758000 | Finance Committee | 50.00 |
| 759000 | Internet Committee | 50.00 |
| 903500 CAWS Chicago | 0.00 | |
| 904500 CAWS 2006 | 82,000.00 | |
| Total Expense | 495,900.00 | |
| Net Income | 300.00 | |
I wanted to go through the Profit and Loss.
Explanation of line items.
I will always be available to answer questions
Greg B. ––Regarding the 90,000 prudent reserve, how did you come up with that figure? Brian W. It was just a number out of a hat. We have looked at that number and we are looking at 3 to 4 months operating expenses as being a prudent reserve. It does though seem like– a reasonable amount based on our experience and information.
Philip There have been so many cut backs, where is the emphasis now? On cut back or prudent reserve?–
Brian W. On Prudent reserve.
Bob C. – Finance committee will be looking at the budget as well, we only make recommendations. It’s a work in progress.
Danny H. – The 59,000 what is the 17,000.00?
Brian W. – Currently there is 17,000 in prudent reserve. This report ends in June. Diane W. – How can the fellowship be of help for the translation of the book.? Brian W. – We look to volunteers to help with the translation process.
Barry H. – Where is the prudent reserve on the balance sheet?
Brian W. – It is all in the current assets, cash balance.
Sherri H. – The book reserve dollars, is that a part of the current prudent reserve?
Brian W.– It is separate from the cash balance. Currently that is 25,000.00
John W. –Would you clarify where the convention was held?
Brian W–. Yes it was in San Fernando Valley. Tad S. What is your goal for the prudent reserve? Brian W. – We have a goal of 90,000 it is a process.
Kevin M.- How are we doing are we getting away from cost cutting matters, i.e. inventory– reduction etc.?
Patty F. Our Accounts Payable are 10,000.00 we have not been late on a payment in 7 months. We– have renegotiated with vendors so that we can order smaller quantities. Dan S.M. – Is there any consideration of normalizing the convention proceeds? Brian W. Yes everything possible is being done to move conventions.
Dan S.M. Are we looking at considering funding for that activity?
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Brian W. – In my opinion that is several years away.
Pilar R. Can you please tell us about the effects that would have taken place had the WSC not been successful.
Brian W. We would be at a 22,000.00 deficit. If we would have had 26,000.00 we would have– broke even
Brian B. Is there any other way to raise funds?
Brian W. We have been discussing new ways and ideas to increase funds.
Arnold M. What are you doing to increase the prudent reserve?
Brian W. Now that we have the final numbers we will do an analysis and find ways to build that up as soon as possible.
Phillip L. Can you explain the book sales budget?
Brian W. It has been declining for 4 years. We are hoping with the new book, that it will revise that.