Orange CTA Financial Statement 2024

ORANGE COUNTY CLASSROOM TEACHERS ASSOCIATION, INC.
Statement of Financial Position
August 31, 2024

Assets

Current assets: Cash and cash equivalents Accounts receivable Prepaid expenses Total current assets	$  1,919,276 278,550        17,738      2,215,564
Investment (note 4)	18,354
Property and equipment:
Land	61,000
Building and improvements	875,214
Furniture and fixtures	102,364
	1,038,578
Less accumulated depreciation	(778,997)
Total property and equipment, net	259,581
Total assets	$ 2,493,499

Liabilities and Net Assets

Current liabilities:
Accounts payable and accrued expenses	271,845
Accrued salary and vacation payable	65,543
Deferred revenue
Total current liabilities	337,388
Commitments and contingencies (notes 5 and 6)

Net assets without donor restrictions:

Undesignated	2,148,801
Designated by the Board	7,310
Total net assets	2,156,111
Total liabilities and net assets	$ 2,493,499

Statement of Activities
Year ended August 3I, 2024

Net assets without donor restrictions:

Revenues and other support:
Membership Dues and fees	$ 4,806,825
Florida Education Association grants/rebates	385,380
Investment  income	20,048
Other income	11,784
Total revenue and other support	5,224,037

Expenses:

Salaries and wages	730,443
Employee  benefits and payroll taxes	314,367
Building expenses	131,845
Per capita dues	3,325,745
Membership functions	145,896
General office	111,517
Arbitration and grievances	15,156
Political action	35,534
Negotiations	333,641
Conference, conventions and meetings	71,166
Community relations	72,088
Depreciation	29,502
Legal and professional	46,641
Other expense
Total expenses	5,363,541

Change in net assets	(139,504)
Net assets at August 31, 2023	2,295,615
Net assets at August 31, 2024	$ 2,156,111

Statement of Cash Flows
Year ended August 31 , 2024

Cash flows from operating activities:

Change in net assets	$ (139,504)
Adjustments to reconcile change in net assets to net cash provided by operating activities:
Depreciation	29,502
Unrealized gain on investment	(8,840)
Change in operating assets and liabilities:
Accounts receivable	(105,036)
Prepaid expenses	16,264
Accounts payable and accrued expenses	(60,340)
Accrued salary and vacation	22,752
Deferred revenue	(31,655)
Net cash provided by operating activities	(276,857)
Decrease in cash and cash equivalents	(276,857)
Cash and cash equivalents at beginning of year	2,196,133
Cash and cash equivalents at end of year	$1,919,276

Notes to Financial Statements
August 31, 2024

(6) Commitments
CTA  participates  in  a  defined  contribution,  multi  employer  pension  plan,  sponsored   by  National Education Association,  Inc., which covers all of CTA employees.   Employees become eligible to join upon employment and are fully vested after 60 months of service.   Employer contributions, which are based on a percentage of each covered employee’s gross pay, totaled approximately  $200,000 for the year ended August 31, 2024.
(7)  Functional Expenses
The  costs  of  programs  and  supporting  activities  for  the  year  ended  August  31,  2024  have  been summarized on a functional  basis as follows:

	Program Services	Management and General	Total Expenses
Operating Expenses:
Salaries and Wages	$ 547,833	182,610	730,443
Reimbursed Expenses
Employee benefits and payroll taxes	235,776	78,591	314,367
Building expense	118,660	13,185	131,845
Per capita dues	3,325,745	–	3,325,745
Membership functions	145,896	–	145,896
General office	22,302	89,215	111,517
Arbitration and grievances	11,367	3,789	15,156
Political action	28,427	7,107	35,534
Negotiations	250,231	83,410	333,641
Conference, conventions and meetings	53,374	17,792	71,166
Community  relations	57,670	14,418	72,088
Depreciation	22,127	7,375	29,502
Legal and professional	43,475	10,869	54,344
Other expense	–	–	–
Total operating expenses	$ 4,828,736	534,805	5,363,541

There shall be an annual independent audit, by a qualified CPA, conducted using generally accepted auditing standards. The annual audit report shall be made available for examination to any member upon request.