[Ofa_boardplus] May Treasurer's Report

[Jim Ryan]

Cash position decreased slightly to $281,976. Accumulated surplus decreased
slightly to $187,847.



Net income was a loss of $18,032, enough of a decline to warrant an
explanation. Year to date is a greater loss of $44,109. There was a
significant, one-time loss, recorded as negative income of $12,500 due
Workshop losses. This was evidenced by negative total income for the first
and only time



We are continuing to see mixed expenses for the Executive Director. The ED
is very busy with significant projects such as the OFA Bylaws and IPR
policy work, and the interop program and so on. Fortunately, these projects
will end eventually, so one can hope for more reasonable expense levels.
The over budget amounts we’re seeing, are self-imposed because we
consciously reduced the daily time budget from 4 to 3 hours for 2020 based
on 2019 actual activity levels. If we had stayed at 4 hours we wouldn’t be
reporting a budget concern now.



I had planned on providing quarterly financial reviews as we navigate
through this deliberate loss period. Somehow the first quarter got away
from me, but I commit to being ready with a first-half report for the July
Board meeting.



Sadly, we’re going to have face the fact we’re losing one of our members,
after numerous attempts to get current on dues.



This information is being offered for your information. It will likely be
reviewed and further analyzed before it becomes accepted as final.



Comments/questions are more than welcome, whether to me or the group. I’ll
send the actual report to anyone who wants to see it.



Thanks, Jim Acting Treasurer
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