by Ernie Werstler, Treasurer, KTA Board of Directors
At the KTA’s Fall Meeting, we projected that the KTA would show a small gain for the fiscal year ending September 30, 2014. We noted that the audit of the financial statements had not been completed at that time, but we would report the final audited numbers to you upon completion.
I am pleased to inform you that the audit is now completed. I am even more pleased to inform you that for the fiscal year ending September 30, 2014, the KTA shows a gain of $5,411, as evidenced on our Statements of Support, Revenue, Expenses, and Net Assets-Income Tax Basis in the full audit report (link below) That reverses the trend of the past several years, during which expenditures were consistently higher than revenue.
The gain this past fiscal year is the result of hard work and creative ideas by many people. Board members, staff, and volunteers all contributed to making this a good year. But the most important person, the person who helped the most, was you! You, who joined the KTA or renewed your membership. You, who contributed to one of our campaigns or volunteered at an event, made this happen. The power of you is what made this past year such a good year.
Over 50 years ago, hiking clubs throughout Pennsylvania realized that they could protect and improve more trails by working together; from this, the KTA was formed. Those organizations knew the truth of the matter. Be it trail maintenance, meeting with the State Game Commission, or testifying before a governmental committee, we can accomplish more when we work together.
So while we had a good year last year, the work is not over. The threats to our hiking trails continue, and with your continued support, the voice of the hiking community—via the KTA—will continue to strengthen. Together, we can ensure that hiking trails in Pennsylvania will be here for our children—and our children’s children—to enjoy.
Click here to access our full audit report, and see below for our FY2014 statement of assets, liabilities, and net assets.
FY2014 STATEMENTS OF ASSETS, LIABILITIES, AND NET ASSETS—INCOME TAX BASIS
|
ASSETS |
2014 |
2013 |
|
|
|
|
|
Current Assets |
|
|
|
Cash |
$126,892 |
$123,142 |
|
Accounts receivable |
$3,594 |
$3,214 |
|
Inventory |
$27,398 |
$28,089 |
|
Total current assets |
$157,884 |
$154,445 |
|
Property and equipment |
$465 |
$200 |
|
TOTAL ASSETS |
$158,349 |
$154,645 |
|
|
|
|
|
LIABILITIES AND NET ASSETS |
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
Accounts payable |
$329 |
$325 |
|
Payroll tax liabilities |
$2,247 |
$2,202 |
|
Accrued payroll |
$5,456 |
$5,351 |
|
Credit card payable |
$386 |
$207 |
|
Deferred revenue |
$0 |
$2,000 |
|
Sales tax payable |
$27 |
$67 |
|
Total current liabilities |
$8,445 |
$10,152 |
|
Net assets (total and unrestricted) |
$149,904 |
$144,493 |
|
TOTAL LIABILITIES AND NET ASSETS |
$158,349 |
$154,645 |