Yes that’s right. When the accounts are read out they have money coming in to the congregation and then money coming in for the Watchtower society. Then in terms of expenses they have local expenses that are deducted from the donations to the congregation, plus the money sent from the congregation to the Watchtower society that is also deducted from the donations to the congregation. In my congregation I think the congregation donation to Watchtower was reduced from £600 to £300 over the past couple of years, and direct donations from local publishers to Watchtower are often low, and sometimes even zero.
I think insiders have recently indicated that money bequeathed in wills is a major source of revenue for Watchtower, perhaps more significant than the regular donations, and enough to keep them afloat and comfortable for the foreseeable future.