[OSGeo Finance] Finance Report

[Tyler Mitchell (OSGeo)]

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