Seattle Glider Council
Balance Sheet
As of December 31, 2010

Total
ASSETS
   Current Assets
      Bank Accounts
         Fidelity Account 36,300.10
         Keybank Account 54,361.83
      Total Bank Accounts $90,661.93 
      Accounts Receivable
         Accounts Receivable (183.78)
      Total Accounts Receivable $ (183.78)
      Other Current Assets
         Undeposited Funds 45.00
      Total Other Current Assets $45.00 
   Total Current Assets $90,523.15 
   Other Assets
      Bathroom-Shower 8,000.00
      Cessna 79D 30,000.00
      Pawnee 78P 36,000.00
      Scales-Contest 500.00
      Towplane Reserve 7,795.78
   Total Other Assets $82,295.78 
TOTAL ASSETS $172,818.93 
LIABILITIES AND EQUITY
   Liabilities
      Current Liabilities
         Other Current Liabilities
            Unfunded Towplane Reserve 7,795.78
         Total Other Current Liabilities $7,795.78 
      Total Current Liabilities $7,795.78 
   Total Liabilities $7,795.78 
   Equity
      Opening Bal Equity 84,660.89
      Retained Earnings 94,518.83
      Net Income (14,156.57)
   Total Equity $165,023.15 
TOTAL LIABILITIES AND EQUITY $172,818.93 

Friday, Mar 18, 2011 03:42:31 PM PDT GMT-7 - Accrual Basis

This report was created using QuickBooks Online.
Report: Profit & Loss
Seattle Glider Council
Profit & Loss
January - December 2010

Total
Income
   Banquet Income 2,209.00
   DG 1000 Operation 1,000.00
   Donation-Income 300.87
   Dues 3,000.00
   Facility Fee 2,877.00
   Interest Earned 23.48
   Late Fees 140.00
   RV Parking - Season 4,539.00
   Services 3,948.00
   Tow fees 15,486.72
   Trailer Parking 5,534.00
Total Income $39,058.07 
Gross Profit $39,058.07 
Expenses
   Administration 755.41
   Bank Charges 292.76
   Banquet Expense 2,069.11
   Donation 300.87
   Election 56.95
   Equipment 1,549.05
   Food 66.69
   Fuel 6,318.37
   Insurance
      DG1000 3,866.50
      Liability 531.00
      Property 600.00
      Tow Planes 4,017.00
   Total Insurance 9,014.50 
   Maintenance- Facilities 1,778.56
   Maintenance-Towplanes 10,500.24
   Miscel Exp. 729.22
   P.O.Box Fee 60.00
   Postage 64.05
   Purchases 243.55
   Registration Fees 170.00
   Rent
      Clubhouse 8,669.97
      Hangar 5,079.74
   Total Rent 13,749.71 
   SSA Membership 200.00
   Supplies 193.44
   Taxes
      Sales Tax 318.48
   Total Taxes 318.48 
   Travel 308.58
   Utilities
      Electric 1,220.03
      Refuse 452.28
      Telephone 309.63
      Water 493.16
   Total Utilities 2,475.10 
Total Expenses $51,214.64 
Net Operating Income $ (12,156.57)
Other Income
   Gain or (loss) on Sale of Assets (2,000.00)
Total Other Income $ (2,000.00)
Net Other Income $ (2,000.00)
Net Income $ (14,156.57)

Friday, Mar 18, 2011 03:40:08 PM PDT GMT-7 - Accrual Basis

This report was created using QuickBooks Online.
Report: Balance Sheet


Audit Results Letter