Financials

APC Financials

The SERVICES shown are paid for from Maintenance fees and Volunteer groups. The APC component covers at least 80% of total expenses. Each volunteer group collects money and may spend it as they see fit, accounting, as they must, to the donors. The bulk of of the income and expense are recorded on a Quick Books application solely under the control of Sra Bethania Almonte de Tejada, the Project Manager. Bethania possesses a degree in Business Administration, with an accounting major. A monthly Profit and Loss statement is produced, that will be made available to the community on this Web Site. She attends Board meetings as a non voting member to discuss and advise on our financial condition. Bethania is our friendly face to the community, responsible for day to day operations.

Banking is conducted at the Scotiabank in Puerto Plata, with all checks requiring two signatures. Signing authorities are Stanley Bobyk, Don Docker, Sandro Falla and Claudia Docker. Invoices, receipts, or any other documentation required, is presented and examined in support of Bethania’s request for signatures. A Petty Cash fund is kept at the office to cover small cash transactions. Receipts are issued and presented when Bethania wants to replenish the Petty Cash. Deposits are made frequently to prevent an undue amount of cash being kept over night in the office.

As mentioned Bethania is the only person who inputs the data for APC accounting systems, while CPA Eddie Mercado does the Year End Financial Statements, as required by Rentas Internas (Internal Revenue). In addition Bob Curtis is a consultant who is familiar with programming financial systems. He has, in the past, done compliance audits of volunteer fund raising, and last year, of the APC accounts mentioned here. His analysis requires an explanation for questionable transactions that get must get resolved to his satisfaction. He also makes suggestions to improve our financial accounting to the membership. The handling of our money is well controlled by independent professionals, and decisions affecting the outlay of your money are recorded in the Minutes of the Board of Directors maintained at the APC office.

The APC will post the year and statements, when audited by a CPA, normally in later January of every year.

We will also post quarterly financial statements for ongoing operations throughout the year.

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APC Profit and Loss 2011 – 2014


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