[OSGeo Finance] Draft 2008 Financials

Tyler Mitchell (OSGeo) tmitchell at osgeo.org
Mon May 25 19:57:27 EDT 2009

I've done all the changes, comments below...

>> 1) The "Contributions" expense item (14709.32) is really the  
>> portion of
>> the FOSS4G 2008 profits that were provided to GISSA and the GISSA
>> education fund.  I'm not sure why "Summer of Code" and "Promotion"  
>> got
>> subcategories while this did not.
> I'll move this into its own category.  I didn't expect this to be  
> recurring so making it into a subcategory didn't seem apparent at  
> first, but I will move this so it reports a bit better.

After discussing this with Ken, it seemed more appropriate to handle  
it specifically as an "income" item rather than as an "expense".  It  
now shows under the INCOME heading, though with a negative amount.   
By showing it up there we make it clear that our event profit helped  
to fund those contributions.  Also, note that we actually will not  
have any specific transaction for the profit sharing from FOSS4G -  
it's all just on paper.

This is a bit different than simple donations we made for summer of  
code mentors and general promotion opportunities that are currently  
under the "contributions" account - though we could certainly handle  
these the same way if it made sense.

>> 2) I'm not sure why the Geoconnextion payment went into "Services"  
>> while
>> stuff like Google Summer of Code Mentorship payments went into  
>> "Unrestricted
>> General".

I've changed this now so they are the same.

>> 3) I see a $968.62 expense under professional fees which turns out  
>> to be
>> a payment for FOSS4G 2009, presumably for Tyler.  Is there a  
>> reason this
>> is not included in the "Event Fee" category under Travel and  
>> Entertainment?
> For FOSS4G 2008 but not for me - this was for hosting the board  
> meeting - venue rental, catering services, support, networking,  
> etc.  Putting it under Professional Fees --> Meetings seemed  
> natural, but we can move it if needed.

I didn't modify this any further as I think it fits best there and is  
a recurring cost each year unless paid for out of event funds directly.

>> 4) I was surprised to see $15510 for uncollectable debt.  I  
>> thought the new
>> plan was not to treat withdrawn sponsorship invoices this way?  I  
>> generated
>> this report on Friday.

Okay, this is all done now.  I voided the unpaid invoices and deleted  
the credit memos we had for banking the uncollected debt side.

Overall, I think it's looking a LOT tighter now - thanks for the  
feedback Frank and for the guidance Ken.

The only outstanding task I have here is to find a better way to  
handle the Restricted project funds.

Frank wrote:
> I have adjusted the balance sheet report again
> to report the GDAL project restricted funds as a liability.  I know  
> Ken
> didn't like this, but I can't seem to find the email where he  
> suggested
> an alternative, and I've been paralysed on this front for too long.

I've moved the INCOME -> Restriced GDAL & QGIS accounts to a parent  
account called PROJECT TRUSTS.  (Don't panic - I can easily switch it  
back :) I set this up as a set of bank/cash Trust Accounts.  Doing it  
this way makes it show up on the balance sheet (without manual  
manipulation!) as a specific category of an asset.  This is my  
attempt at responding to Ken's Oct 15th discussion on this.  The  
downside to this is that, at the moment, it doesn't show as "income"  
in the profit & loss report, but only as cash in the balance sheet.   
More on this as I iron it out tonight, but I think we're really close.


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