[Ofa_boardplus] Treasurer's report for Thursday's Board meeting
jimdryan at gmail.com
Mon Apr 16 16:17:09 PDT 2018
Treasurer's report: March 2018, reported April 16
Under GAAP accrual accounting we had net income of -$5,130, resulting in a
decrease in equity to $320,561 on the balance sheet. The report also shows
$510,100 in cash.
Our budget report shows a surplus of $320,561. Recall this has to be put in
the context of the "operating reserve" we agreed to earlier of $140,000 and
a Workshop reserve of $20,000.
The LF also produces a "Cash Flow Statement" which adjusts the net
income reported earlier to produce a number that drives changes in our cash
position each month. This report shows an increase in our cash position by
$46,853 to $510,100.
The LF is also busy processing membership dues and fees for participation
in the interop/logo program. All members have been invoiced and new members
are being processed. membership dues that have not been paid are being
escalated and I'm copied.
Comments/question/requests are more than welcome, whether to the group or
to me individually. Also, I'll send the actual reports to anyone who wants
to see them
thanks, Jim, acting Treasurer
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