[Lnc-business] Fwd: EOM for Nov-13

[Timothy Hagan]

The Profit and Loss report can also be called the Income Statement. It 
gives the revenues and expenses for each month.
The Statement of Operations is a broad summary of operational 
activities, which is compared to the budget.

You are correct about the surplus/deficit including Building Fund 
revenues. That's why I've mentioned in a couple of the monthly reports 
that even though the Total Support and Revenue was above the budget, the 
unrestricted revenues were below the budget. We will look into 
separating the unrestricted from the designated funds in the reports.

Tim

On 1/6/2014 1:31 PM, Norm Olsen wrote:
>
> Hello Tim . . .
>
> Please advise if the following statements are not correct:
>
> 1>The "Statement of Operations" is essentially the equivalent of what 
> is normalloy called an "Income / Expense Report".
>
> 2>On the report provided, the "Surplus/Deficit" category of the bottom 
> line includes some $234,408 of building fund revenues, and
>
> 3>The reported "Surplus/Deficit" for Jan-Nov 2013 is not really 
> $172,650, but from an Operations point of view is really ($61,758).
>
> Being a relatively accounting novice, I would appreciate a standard 
> operating "Income/Expense Statement" which does not include any 
> designated funds; i.e. a document which describes our basic operations.
>
> Norm
>
> --
>
> Norman T Olsen
>
> Regional Representative, Region I
>
> Libertarian National Committee
>
> 7931 S Broadway, PMB 102
>
> Littleton, Colorado  80122-2710
>
> 303-277-9967
>
> Norman.Olsen at lp.org
>
> "First they ignore you, then they ridicule you, then they fight you, 
> then you win." -- Gandhi
>
> -----Original Message-----
> From: Lnc-business [mailto:lnc-business-bounces at hq.lp.org] On Behalf 
> Of Timothy Hagan
> Sent: Saturday, January 04, 2014 1:09 PM
> To: LNC Business
> Subject: [Lnc-business] Fwd: EOM for Nov-13
>
> The November end-of-month financial reports are attached. I apologize 
> for the delay. Where I was staying during the holidays does not have 
> Internet connection.
>
> Tim Hagan
>
>
>
> _______________________________________________
> Lnc-business mailing list
> Lnc-business at hq.lp.org
> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://hq.lp.org/pipermail/lnc-business/attachments/20140106/868ed583/attachment-0002.html>