A.S. Haley: What Is Wrong with ECUSA's Financial Numbers?

Monday, February 7, 2011

The Finance Office of ECUSA has put online a preliminary December 2010 year-end statement. It permits a first look at how well ECUSA performed relative to its budget adopted for 2010. Taking the numbers at face value (something which the numbers themselves will not let us do, as discussed below), one can arrive at these preliminary observations:

Stated 2010 Revenues: $ 40,977,763
Stated 2010 Expenses: $ 36,086,557

Net Book Surplus for 2010: 4,891,206

Ordinarily, one should be proud of producing a budget surplus of nearly $5 million, right? Now, dig a little deeper. There is much more there than meets the eye. the rest