USASA Financials September 2020

| 05-Nov-2020

 






 


US Adult Soccer Association

All,

Please find financials for the period Jan - Sept 2020 compared to Jan - Sept 2019 and then a budget column for each of the 3 scenarios. The budgets are on an annual basis - 12 month as there is no way to estimate what month player registrations may come in based on changing state and local restrictions.

For the period Jan - Sept 2020, we have recorded a net loss of $562,085 compared to a net loss of $138,197 for the same period last year.

38,076 players have registered for the period Jan - September 2020, compared to 145,674 players January - September 2019. A decrease of 74%.

Most of the activity on the income statement, not related to player registrations are the fixed costs: rent, audit fees, professional fees, office insurance and D&O insurance. We have incurred legal fees related to bylaw review.

Balance Sheet - The balance of cash at 9/30/2020 was $2,025,602 compared to $2,673,278 at 9/30/2019. We have a receivable of $247K related to a prepayment of insurance which will increase the cash balance in October. Below is a simplified cash flow. This looks different from the statement of cash flows included in the audit as it is a simplified approach. The balances reflect the change from 9/30/19 to 9/30/20.

USASA Income Statement Jan - Sept 2020

USASA Balance Sheet 9.30.20





Contact TSSAS

TSSAS Registrar
Harmony Smith
2022 Pillard Summit,
San Antonio, TX 78245

Email: registrar@tssas.org

By Phone: 210-326-5942

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