AVALON HOLDINGS CORP
For the period ended Dec 31, 2023. Filed Mar 21, 2024.
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FY2023 · Filed Mar 21, 2024
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EX-13.1 · Contract Assets
Contract Assets
Contract assets include unbilled membership dues receivables related to the Avalon Golf and Country Club for the customers membership commitment which are billed on a monthly basis over the course of the annual agreement. Such amounts are stated at their net realizable value. Contract assets related to unbilled membership dues are classified as current as revenue related to such agreements is recognized within the annual membership period. Unbilled membership receivables in our Consolidated Balance Sheets were approximately $0.6 million at December 31, 2023 and 2022, respectively.
The following table presents changes in our contract assets during the years ended December 31, 2023 and 2022 (in thousands):
| Unbilled | ||||
|---|---|---|---|---|
| Balance at · Membership · Balance at | ||||
| Beginning of Period | Dues | Billings | End of Period | |
| Contract Assets: | ||||
| Unbilled membership dues receivable | ||||
| Year ended December 31, 2023 | $599 | $1,892 | $(1,924) | $567 |
| Year ended December 31, 2022 | $578 | $2,060 | $(2,039) | $599 |
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