[OSGeo Finance] Draft 2008 Financials

[Tyler Mitchell (OSGeo)]

Hi all,
I reworked many items on the reports today.  The following are my raw  
notes in case you need to compare Frank's report to the summary I  
have attached.  It should address all the issues, except for the  
Balance Sheet ones for tracking project funds as liabilities.

After trying a few things re: liability tracking earlier I changed it  
back to the way we've been tracking it, but in a clearer way.  Now  
our restricted Project Funds will appear as a line item under Income,  
instead of being buried under Donations.  I think in the future we  
will want to give each restricted project it's own "bank/cash"  
account in Quickbooks and move items in/through them.  Quickbooks is  
not set up to do the type of "fund" tracking that we are trying to  
do, so this is the best workaround I've read about.

But hopefully by having the Project Funds item in the Profit and Loss  
report, it will not be needed in the Balance Sheet.  If we want it  
there in the reports then we will have to adopt this other approach  
sooner than later.

-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://lists.osgeo.org/pipermail/finance/attachments/20090525/2b9d25b4/report-0001.html
-------------- next part --------------


INCOME CHANGES

1 / Reclassed Expense:Contributions -> Income:Contributions from  
FOSS4G - 14,709.32

2 / Removed Invoices (total: 12500 GDAL, 3000 Associate Sponsor))
* Associate Sponsor: WhereGroup invoice - 3,000
* GDAL: Waypoint - 3,000
		AGI - 9,000
		Timberline - 500

3 / Reclassed Income:Services -> Donations:Unrestricted General + 2,836

4 / Reclassed Income:Project Restricted(Event Specific) ->  
Income:Project Funds:Event Specific - 7,000

5 / Reclassed Income:Restricted GDAL -> Income:Project Funds:GDAL -  
12,500
----------
Total Income changed:
552,332 - 12,500 (GDAL invoices)
	- 3,000 (Associate sponsor)
	- 14709 (FOSS4G contributions)
= 522,123
----------

EXPENSE CHANGES

1 / Renamed Expense:Contract Labour:Project -> Expense:Project  
Dispursements

2 / As in #1 in Income changes above - moved Expense:Contributions - 
 >  Income:Contributions from FOSS4G - 14,709

3 / Reclassed Expense:Insurance -> Travel:Planning Costs + 63.42

4 / As in #2 in Income Changes above - voided a bunch of invoices to  
eliminate Uncollected Debt item - 15,500

---------
Total Expenses changed:
512,455 - 15,500 (void invoices)
	 - 14,709 (contributions)
= 482,246

No change to Net Income.
---------