[sac-board] Re: Financial Report

From: Paul Dickson <sac-treasurer@xxxxxxxxx>
To: Jeff Hopkins <phxjeff@xxxxxxxxxxx>
Date: Fri, 10 Oct 2003 18:12:42 -0700
On Fri, 10 Oct 2003 08:40:52 -0700, Jeff Hopkins wrote:
> Some suggestions for your financial report. As someone else suggested 
> it would be better to use a more standard approach of income and 
> expenses plus have an asset/liabilities report (what assets, e.g., 
> telescopes, equipment, books, tee shirts etc., does the club have 
> along with their estimated fair market value and what liabilities, 
> such as insurance due, room rent, etc.)in addition to a separate 
> budget report.

Sorry, I'm not an accountant so I don't know the "standard approach".  The
only assets I track is the money.  We have no valuations on "real" things
the club may own, and I doubt anyone cares to track this.

> It is also very important to have columns total what is above them. 
> The way your report reads, the additions column total is not the 
> total of add/additions. Also, it is unclear what "add/additions" are. 
> It would seem they are just the same item. If you feel it would help, 
> sub-itemizing items would be fine.

The article included with the newsletter says the "Additional" column is
my expectations additional expenses for rest the year.  We may or may not
be spending that before the year ends.  The PDF version of the spreadsheet
I mention in SAC Forum has a slight format change, with the totals on
separate lines.

> You should also provide a beginning balance for the club checking 
> account, total withdrawals and total deposits and the ending balance. 
> This should be done monthly.

This information in inmaterial to the report.  The report is about how
income and expenses balance or don't, not about how much money we have in
the bank.

> To summarize:
> 
> * Monthly
> A checking account statement.
> Deposits/withdrawals
> Beginning balance/ending balance

This is pretty meaningless.  It provides no context.

> * Quarterly or semiannually
> A financial report showing income and expenses plus assets and liability.

I see part2 of tonight's report (attached).  Please substract the 2004
dues, since it's not really 2003 income (I think I might just move this
into equity, so it's not part of 2003).

> * Annually
> A next year budget and analysis of the current year's budget and expenses.

Not really my job, I'm at term limit.  I can provide next year's treasurer
with the numbers and a number of suggestions, but ultimately it's not up
to me.

> It is really pretty easy to do. Ask if you need help.
> 
> That will give you and the board and club a much better picture of 
> what the status of the club's finances are.

We don't need a better picture.  The attached PDF is what I read from each
month.  In fact, the assets part is usually all that's read, because it's
pretty dry and the numbers are pretty meaningless when read aloud.

I don't understand what you don't comprehend from my report on pages 8 and
9 in the newsletter?

        -Paul

FYI - The attachments won't go through the mailing list.  I'll forward
them upon request.      -Paul



-- Binary/unsupported file stripped by Ecartis --
-- Type: application/pdf
-- File: treasurers-report.20030912.pdf


-- Binary/unsupported file stripped by Ecartis --
-- Type: application/pdf
-- File: treasurers-report.20031010.part1.pdf


-- Binary/unsupported file stripped by Ecartis --
-- Type: application/pdf
-- File: treasurers-report.20031010.part2.pdf
[sac-board] Re: Financial Report

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