by Michael Mitrano, Treasurer
The income statements and balance sheet show the AAAP’s financial results for the fiscal year that ended on June 30, 2014, and the AAAP’s financial position at the beginning and the end of the year. (Click on links below to view tables.)
You will see that, once again, the AAAP had a strong surplus for the year: about $2,400. StarQuest made a positive contribution and our income from dues and contributions was larger than expenses for the observatory and lecture programs.
As you will also see in the eight-year income statement history also shown below, the AAAP has achieved a surplus in each of those years and has added $13 thousand to its reserves during that time.
Our cash balances and cumulative reserves are close to $25 thousand, equaling roughly four years of the association’s total annual expenses.
Kindly let me know if you have any questions about the report.