[Ofa_boardplus] (no subject)

[Jim Ryan]

I'm very sorry for the delay in providing this report. There were some
obvious problem in the report as presented by the Linux Foundation (LF),
which took significant time to understand and report upon. My comments
follow, but please understand all of the numbers I comment upon are based
on an incorrect report, as explained in the attached report.

As always comments/questions welcome

thanks and regards, Jim, Treasurer, OFA
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March Treasurer’s Report



Cash position decreased about 20% to $174,406. Accumulated surplus
increased slightly to $119,114.



Net income was reported as $6,719, which would have been a significant
swing from a consistent loss record, most recently $7,078. However, the
number is incorrect as explained below. Net income, still positive, was
helped by another significant reduction in ED charges from 72% of budget to
59%. All other expenses were as expected.



A significant driver of achieving a positive net income was reporting
Workshop income of $22,500 against marketing expenses of $12,380.
Unfortunately, that number is overstated by $5,000. The correct number
should be $17,500 thanks to Intel’s sponsorship for the 2021 Workshop and
for the 2020 WS which was deferred and recognized this year. The incorrect
part was the sponsorship from AWS which will be deferred to next year’s WS.
Because the March books are closed this will be corrected in the next
report.



Comments/questions are more than welcome. I’ll send the actual financial
reports to anyone who wants to see them.



Thanks, Jim, Treasurer
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