District 16 Financial Reports
District 16 ACBL Treasurer’s Report
YTD December 31, 2024
By Jamie Southerland
District 16 Executive Treasurer
Attached are the Statement of Financial Activities for the twelve months ending on December 31, 2024, and the Statement of Financial Position depicting the financial condition of District 16 as of December 31, 2024.
Our revenue in excess of expenditures amounted to $8,914. This is the first year we have had positive income since 2020. This is encouraging news!
We earned a net “profit” of $9,205 from STaC games, of which $3,690 was attributable to prior year STaC revenue. The $1,318 shown as Accounts Receivable on the Statement of Financial Position is the total amount of STaC fees that clubs still owe for October 2023 and March 2024. I recently began sending formal invoices to these clubs in an attempt to collect the money. The amount due today is less that $800. ACBL has taken over collection of the STaC table charges, and they just send us the fees less sanction fees, which greatly simplifies matters on our end.
We spent $1,333 more in Grass Roots funds than we brought in this year. We spent $4,563 more on Scorecard Contractor expenses that we took in as revenue. Dues and Subscriptions is comprised largely of our QuickBooks Online subscription. Most of the other categories are self-explanatory (to me, anyway). If they are not for you, please ask me to clarify.
During 2024, our bank and investment account balances increased $6,263 and accounts receivable increased $1,318. Our only true liability was $826 in accounts payable, which was paid off in January 2025.
There remained $26,566 of unused Grass Roots funds to be used for future support of the GNT and NAP events. The amount earmarked for use in future D16 NABCs is now $7,227, and increase of $3,002.
As evidenced by these financial statements, the District remains in a strong financial position and is in good standing to continue its mission.
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