Magazine article American Jails

Financial Statement for Fiscal Year Ending December 31, 2018

Magazine article American Jails

Financial Statement for Fiscal Year Ending December 31, 2018

Article excerpt

We are pleased to provide the American Jail Association's Annual Auditor's Report for the fiscal year ending December 31, 2018.

In accordance with the bylaws of AJA, the books of account of the organization have been audited by the independent auditing firm of Smith Elliott Kearns & Company, LLC. The audit produced an opinion based on review of our financial statements and accounting practices that the changes in our net assets and cash flow for the calendar year ending December 31, 2018 were in accordance with Generally Accepted Accounting Principles (GAAP). Further, that in the opinion of the auditors, the organization's financial statements present fairly, in all material respects, the financial position of AJA for the year ending December 31, 2018.

In summary, AJA had assets and liabilities of $1,680,452 in 2018, compared to $1,851,096 in 2017. Total revenues for 2018 were $1,796,869 compared to $1,765,416 in 2017. Total expenses in 2018 were $1,922,576 compared to $1,817,419 in 2017.

This resulted in a net to fund balance of ($125,707) in 2018, compared to a net to fund balance of ($52,003) in 2017. In addition, we had net unrealized and realized gains on investments of ($38,188) resulting in a total net income for the year of ($163,895). This adjusted our fund balance, or retained earnings, to $798,174.

Highlights of the Audit Report are as follows.

Revenue

Overall, operating and conference revenue for 2018 was $1,796,869. Most revenue categories, with the exception of a few, were within several percentage points compared year over year and to budget. …

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