[OSGeo Finance] Draft 2008 Financials

[Tyler Mitchell (OSGeo)]

Attached is the detailed profit and loss report.  Last night I only  
attached the summary.

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On 25-May-09, at 11:38 PM, Tyler Mitchell (OSGeo) wrote:

> 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.
>
> <report.html>
>
> 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.
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