[OSGeo Finance] Balance Sheet Summary Q1-Q3

[Ken Tamura]

Thanks Tyler.

Regarding the last question, liabilities are recorded when services/goods have been received (when you owe money because you already received some benefit).

For salaries an hosting, it would only be liabilities if at the end of the month, you had not paid for the current month services.  Since salaries are paid automatically when they are due, there should be no liabilities.  For hosting, it would depend if they are invoice for past or future month.   Overall, quarterly process should include guidelines on how to record liabilities for reporting purposes. Normally, in these cases, it would be determined by criteria such as dollar size and/or significance.

Good to see progress is being made.  Thanks for sharing the report


Ken Tamura
Geospatial Solutions of Autodesk, Inc.
415-507-8313 (w)    415-299-1704 (c)


-----Original Message-----
From: Tyler Mitchell [mailto:tmitchell.osgeo at gmail.com] On Behalf Of Tyler Mitchell (OSGeo)
Sent: Wednesday, October 01, 2008 3:45 PM
To: Ken Tamura
Cc: finance at lists.osgeo.org
Subject: Re: [OSGeo Finance] Balance Sheet Summary Q1-Q3


On 1-Oct-08, at 2:26 PM, Ken Tamura wrote:

> Quick questions:
> *         Is it true that accounts receivables are growing each
> quarter?  This means that there are donation obligations that
> groups/people owe and are past due.

When I issue an invoice to a sponsor, I accrue for it.  So it's
automatically checking whether or not I've registered a payment - not
sure about "past due" or not, I don't think it differentiates at that
level.

We did a pretty large batch of project sponsorship renewals.  Some of
them may decide not to renew in the end.  Then there were the two
remaining Autodesk checks for the year - one I just received today.
So the amount isn't as huge as it might seem.

Any suggested changes to that process?

> *         Is it true that in the bank account there is cash
> available of over $160,000?  This should reconcile to the bank
> account.

Yes the bank accounts are matching these numbers.

> *         Finally, is it also true that as of Oct 1st, the
> organization does not have any outstanding obligations for services/
> goods received by Sept 30th? (meaning there are $0 liabilities at
> this time).

This is where I think we could improve, at least on the events side,
but perhaps in other areas.  Should staff salary/expenses, hosting
services, etc. be included here.  When is a cost considered a
liability?  When you have been invoiced, or should I just be entering
in regular bills/expenses ahead of time?  I assume so.

Thanks a lot for looking at it!  Please consider these draft until I
iron out these lumps.
Tyler