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The Profit and Loss report can also be called the Income Statement.
It gives the revenues and expenses for each month.<br>
The Statement of Operations is a broad summary of operational
activities, which is compared to the budget.<br>
<br>
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.<br>
<br>
Tim<br>
<br>
<div class="moz-cite-prefix">On 1/6/2014 1:31 PM, Norm Olsen wrote:<br>
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<p class="MsoPlainText">Hello Tim . . .<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Please advise if the following
statements are not correct:<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText"
style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1
lfo1"><!--[if !supportLists]--><span style="mso-list:Ignore">1><span
style="font:7.0pt "Times New Roman""> </span></span><!--[endif]-->The
"Statement of Operations" is essentially the equivalent of
what is normalloy called an "Income / Expense Report".<o:p></o:p></p>
<p class="MsoPlainText"
style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1
lfo1"><!--[if !supportLists]--><span style="mso-list:Ignore">2><span
style="font:7.0pt "Times New Roman""> </span></span><!--[endif]-->On
the report provided, the “Surplus/Deficit” category of the
bottom line includes some $234,408 of building fund revenues,
and<o:p></o:p></p>
<p class="MsoPlainText"
style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1
lfo1"><!--[if !supportLists]--><span style="mso-list:Ignore">3><span
style="font:7.0pt "Times New Roman""> </span></span><!--[endif]-->The
reported “Surplus/Deficit” for Jan-Nov 2013 is not really
$172,650, but from an Operations point of view is really <span
style="color:red">($61,758)</span>.<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">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.<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Norm<o:p></o:p></p>
<p class="MsoPlainText">--<o:p></o:p></p>
<p class="MsoPlainText">Norman T Olsen<o:p></o:p></p>
<p class="MsoPlainText">Regional Representative, Region I<o:p></o:p></p>
<p class="MsoPlainText">Libertarian National Committee<o:p></o:p></p>
<p class="MsoPlainText">7931 S Broadway, PMB 102<o:p></o:p></p>
<p class="MsoPlainText">Littleton, Colorado 80122-2710<o:p></o:p></p>
<p class="MsoPlainText">303-277-9967<o:p></o:p></p>
<p class="MsoPlainText"><a class="moz-txt-link-abbreviated" href="mailto:Norman.Olsen@lp.org">Norman.Olsen@lp.org</a><o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">"First they ignore you, then they
ridicule you, then they fight you, then you win." -- Gandhi<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">-----Original Message-----<br>
From: Lnc-business [<a class="moz-txt-link-freetext" href="mailto:lnc-business-bounces@hq.lp.org">mailto:lnc-business-bounces@hq.lp.org</a>] On
Behalf Of Timothy Hagan<br>
Sent: Saturday, January 04, 2014 1:09 PM<br>
To: LNC Business<br>
Subject: [Lnc-business] Fwd: EOM for Nov-13</p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">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.<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Tim Hagan<o:p></o:p></p>
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