by Michael Mitrano, Treasurer
The income statement and balance sheet below show the AAAP’s financial results for the fiscal year that ended on June 30, 2022, and our financial position at the beginning and the end of the year.
The AAAP had a $2,600 surplus for the fiscal year, driven again by substantial increase in membership. The chart below shows member dues for the past 15 years:
Dues were paid by 184 members during the fiscal year.
PayPal fees – incurred when members pay via PayPal – account for most of our banking fees and roughly equal eight members’ dues income. Payments via check to the PO box are always welcome.
Over the last two fiscal years, we had received $8,645 in contributions towards the observatory columns replacement. These receipts were not taken into income when received; instead they were held on the balance sheet until the project went forward. After the end of FY 2022, the work was completed. The total funds ultimately received covered the $9,700 cost of the masonry contractor; the AAAP covered permit costs from general funds.
Our cumulative reserves are close to $18 thousand, equaling about four years of the association’s expenses at last year’s level.
Kindly let me know if you have any questions about the report.