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, and its financial position at the beginning and the end of the year.
The AAAP once again had a surplus for the year – this time $480 – and this increased its cumulative surplus to over $23 thousand. This leaves the association in a strong position to fund the proposed second Washington Crossing State Park observatory as described in the July 9, 2013 meeting minute below.
There was no StarQuest during FY 2013. Our 50th anniversary event, however, was a big financial success, and represented over 70% of the AAAP’s revenue and expense for the fiscal year. Due to strong support from sponsors and donors, it had a surplus of about $500 – roughly equaling the AAAP’s overall surplus for the year.
Expenses for the existing Washington Crossing observatory were higher than usual this year, reflecting costs to repaint the rails, refurbish the masonry pillars, and replace the adapter panel circuit board on the Paramount. Hopefully these repairs will leave the Simpson Observatory in good shape for a while.
Please let me know if you have any questions about the report.