[Ofa_boardplus] April Treasurer's Report

Jim Ryan jimdryan at gmail.com
Thu May 21 16:26:08 PDT 2020

Cash position increased slightly to $301,326. Accumulated surplus decreased
slightly to $193,379.

Net income was a loss of $6,115, slightly worse than the previous month.
Year to date is a greater loss of $26,077. We are continuing to see high
expenses for the Executive Director. These are a direct result of support
for OFA Bylaws and IPR policy work, and the interop program. We expect this
number to go and stay down as soon as the next report.

Our financial position reflects the recent decision to move sponsorship for
the Workshop to 2021. This is meant to be in the spirit of fiscal

As Acting Treasurer, I went through a modest exercise to revisit the notion
of “Required Reserves”, meaning the amount of money we need to hold in
reserve in the unlikely event of the dissolution of the OFA, as well as
ongoing, routine liquidity. The actual number turned out to be $92,959,
call it $100K. This is based on the worst case of several types of
obligations all coming due at the same time which is, needless to say, a
remarkably small possibility. Our accumulated reserves as reported here is
about twice this amount.

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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