With the entire recording, reconciling, and balancing of your organization's ledger, you are probably wondering what you are going to do with this information. Well, this information is crucial data that your organization needs in order to operate effectively and successfully. The question most frequently asked by members is "How much is available for us to spend?" The financial report will definitely give you a global picture of the kind of financial transactions that have occurred and accurate feedback as to how the organization is doing financially. One of the many duties of a financial officer is that of preparing financial reports. The following guidelines will assist you in carrying out this assignment:

• Include type of report (financial) and date the financial report is covering o Total like class code descriptions (e.g. printing - $524, telephone - $782)
• Total and list alphabetically each revenue description and amount
• Determine total revenues and double rule total
• Total and list alphabetically each expense description and amount
• Determine total expenses and double rule total

The bottom of report should include:

• Total revenues
• Total expenses
• Profit or loss
• Beginning fiscal year balance
• Net balance as of present date

Note comments that may affect the true amount of any balance.

Include the name, title and organization of person responsible for preparing the financial report.

Financial reports should be prepared monthly, quarterly, semi-annually and annually.

Each month present financial report to the organization's members.