[OSGeo Finance] Finance Report

[Tyler Mitchell (OSGeo)]

Hi,
As you might have noticed, I wasn't able to wrap it the changes re:  
accruals for yesterday after all.  I will follow up with you, Ken,  
re: some of the process I'm trying to straighten out since I could  
use some pointers.

Sorry we couldn't get the report together in time for the board  
meeting, but as soon as I can get the reworked numbers together I'll  
get it out for review.  Then we can take it to the board via email at  
least.

Tyler

On 16-Jul-08, at 7:15 PM, Dave McIlhagga wrote:

> I have to sign-off as I'm heading into non-connected lands at a  
> cottage on the water in the morning. I just wanted to pass along my  
> support for approving the financials for 2007 once we have clarity  
> on the issues surrounding cash vs. accrual reported data.
>
> In the interest of having this resolved soon - I'd be happy to  
> support the financials with this issue addressed based on the  
> support of the remainder of the finance committee. If Tyler can get  
> this information to the committee tomorrow - we can hopefully pass  
> recommendation to the board to approve allowing distribution of the  
> OSGeo Year-end report for 2007.
>
> Signing-off .. talk to you all in a couple of weeks.
>
> Dave
>
>
>
>
> On 16-Jul-08, at 11:06 AM, Tyler Mitchell (OSGeo) wrote:
>
>> I'm working on this, the only trouble I'm having is with  
>> quickbooks itself - it likes to have a single date and I set it to  
>> "cash basis" at the beginning.  This is only a problem when  
>> syncronising the bank account with the books using their automated  
>> tools.  More in a couple hours I hope.
>>
>> Tyler
>>
>>
>> On 10-Jul-08, at 1:05 PM, Dave McIlhagga wrote:
>>
>>> Hi Tyler,
>>>
>>> Because we're interested in the annual picture -- I think the  
>>> simplest thing to do would be to review a couple of things and  
>>> update the books accordingly:
>>>
>>> 1. Check the cash payments from January / February 2007 to see if  
>>> anything is related to 2006 expenses (this should be classified  
>>> in the previous year)
>>> 2. Check your sponsorship invoices / receipts from early 2007 to  
>>> see if these are related to 2006 invoices (should be in previous  
>>> year)
>>> 3. Check your invoicing from end of 2007 to see if there were any  
>>> outstanding payments at year end (make sure they are in the books  
>>> for 2007 as income)
>>> 4. Check payments made in early 2008 for any bills from 2007 (to  
>>> be classified as 2007 expenses)
>>>
>>> Apart from this -- the only thing that I think would be odd is  
>>> Frank .. um, that's not quite what I meant. :) All you have to do  
>>> for that is figure out as of end of Dec. 2007 exactly how much  
>>> from the sponsorships we have invoiced to date to determine total  
>>> GDAL project funds. Subtract from this all invoiced expenses as  
>>> of Dec 2007. The net amount is your liability.
>>>
>>> If you find all the relevant pieces from above -- you and I can  
>>> go through it and make sure it's classified properly.
>>>
>>> Let me know if you want to review it with me.
>>>
>>> Dave
>>>
>>>
>>>
>>>
>>>
>>> On 9-Jul-08, at 1:00 PM, Tyler Mitchell (OSGeo) wrote:
>>>
>>>> Hi Dave,
>>>>
>>>> Yes future costs are not part of the 2007 reports, so these are  
>>>> pretty much cash reports, (though at a quarterly scale there are  
>>>> a couple accrued donations from sponsors).  As a snapshot of  
>>>> 2007 I wouldn't expect 2008 commitments to be shown, but perhaps  
>>>> I should?  Additional contracts for GDAL were not let until 2008  
>>>> I believe, so that explains any missing ones there, but should  
>>>> that be in a 2008 outlook column?  I thought of adding a budget  
>>>> comparison column too.
>>>>
>>>> The accrual approach is certainly something I'm still trying to  
>>>> get used to.  I find it hard enough to keep up with updating  
>>>> cash status.  Do I need to enter all upcoming costs into  
>>>> quickbooks - or perhaps only ones over a certain cost  
>>>> threshold?  We have several monthly costs, some that are under  
>>>> budget, etc. - so I guess we'd have to do a cash-vs-accrual  
>>>> report to give a true cash picture too.  I'm feeling more and  
>>>> more like I need some professional help .. for these financial  
>>>> things.
>>>>
>>>> Tyler
>>>>
>>>>
>>>> On 9-Jul-08, at 9:23 AM, Dave McIlhagga wrote:
>>>>
>>>>> Hi Tyler,
>>>>>
>>>>> I've been through the documentation - the one thing I'm not  
>>>>> clear on is our cash vs income situation. I'm not certain --  
>>>>> but it seems like these numbers reflect the cash side rather  
>>>>> than income? For instance -- there is significant income from  
>>>>> project sponsors (for GDAL) but no indication of a liability  
>>>>> for future contracting that OSGeo is on the hook for. There may  
>>>>> be other examples like this that I'm not aware of.
>>>>>
>>>>> Could you provide some clarity on this? Although cashflow  
>>>>> management is important -- for a clear view of health and  
>>>>> sustainability of the organization (especially in an annual  
>>>>> report), it's critical that our income statement and balance  
>>>>> sheet be accurate.
>>>>>
>>>>> Thanks,
>>>>> Dave
>>>>>
>>>>>
>>>>>
>>>>>
>>>>> On 8-Jul-08, at 10:48 PM, Tyler Mitchell (OSGeo) wrote:
>>>>>
>>>>>> On 27-Jun-08, at 7:01 AM, Dave McIlhagga wrote:
>>>>>>
>>>>>>> In the meantime -- I will give the detailed information a  
>>>>>>> review, and would ask other interested committee members to  
>>>>>>> do the same. If possible I would ask that we have any  
>>>>>>> questions about 2007 financials from the committee posted  
>>>>>>> through this mailing list by next Thursday. Given the  
>>>>>>> Canadian and US holidays next week -- that's probably going  
>>>>>>> to be pretty tight as it is.
>>>>>>>
>>>>>>> We could then look to vote on a recommendation to the board  
>>>>>>> concerning the financials early the week following.
>>>>>>
>>>>>> Any more thoughts or feedback?  If we have a board meeting  
>>>>>> this week it would be nice to have the financials  
>>>>>> recommendation put forward.
>>>>>
>>>>
>>>> Tyler Mitchell
>>>> Executive Director
>>>> Open Source Geospatial Foundation
>>>> tmitchell at osgeo.org
>>>> P: +1-250-277-1621
>>>> M: +1-250-303-1831
>>>>
>>>>
>>>
>>
>> Tyler Mitchell
>> Executive Director
>> Open Source Geospatial Foundation
>> tmitchell at osgeo.org
>> P: +1-250-277-1621
>> M: +1-250-303-1831
>>
>>
>

Tyler Mitchell
Executive Director
Open Source Geospatial Foundation
tmitchell at osgeo.org
P: +1-250-277-1621
M: +1-250-303-1831