Youth Leaders
2019 FCCLA National Leadership Conference Business Session Financial Report Tate and Tryon performed an audit over the financial statement of the Family, Career and Community Leaders of America (FCCLA), which is comprised of the balance sheet as of August 31, 2018, the related statement of activities and cash flows for the year then ended, and the related notes to the financial statements. This audit was performed in accordance with accounting principles generally accepted in the United States of America (GAAP). FCCLA received an unmodified opinion, which is the desired opinion, meaning that the financial statements are fairly presented and free of material misstatements. For the year ended August 31, 2018, FCCLA recorded a net surplus of $652,642, comprised of revenue and expenses of $5,386,303 and $4,733,661, respectively. Total assets increased by $674,842 to $5,550,403, led by a $504,709 increase in cash and cash equivalents, as compared to August 31, 2017. Liabilities increased by $22,210 to $403,186, led by a $16,367 increase in accounts payable, as compared to August 31, 2017. This increase in accounts payable was due to FCCLA receiving invoices for expenses relating to Fiscal Year 2018, in Fiscal Year 2019. With the passing of the bylaw amendment at the 2019 National Leadership Conference in Anaheim, CA, FCCLA’s fiscal year end will now be on July 31, effective immediately.