[OSGeo Finance] Draft 2008 Financials

[Tyler Mitchell (OSGeo)]

Any more questions or flags on the profit and loss report?  Ken, I'd  
be interested if the results look like you were picturing when we  
talked last time.

I'm attaching an updated and refined Finance Committee Report as  
well.  Assuming the numbers are okay, please give me any further  
feedback on the content.

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On 26-May-09, at 8:40 AM, Tyler Mitchell (OSGeo) wrote:

> Attached is the detailed profit and loss report.  Last night I only  
> attached the summary.
>
> <report.html>
>
> 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.
>> ---------_______________________________________________
>> Finance mailing list
>> Finance at lists.osgeo.org
>> http://lists.osgeo.org/mailman/listinfo/finance
>