[Lnc-business] Fwd: EOM Financials Dec 2013

[Geoffrey Neale]

Norm:

 

Re Top Two, and fighting it.  I recall that in Las Vegas in July the topic of Top Two in Arizona came up, and I believe that Bill Redpath communicated to us that Arizona did not want or require help at that time.  Where should we be fighting top two, and how?

 

The Legal Offense fund was “activated” to do a specific thing – raise the funds to file an appeal with the Supreme Court.  We raised more than needed, and the balance is still there.  The Policy Manual has some specific guidelines regarding projects, but IMO this really falls under core activities.

 

Geoff

 

From: Lnc-business [mailto:lnc-business-bounces at hq.lp.org] On Behalf Of Norm Olsen
Sent: Monday, February 03, 2014 4:19 PM
To: lnc-business at hq.lp.org
Subject: Re: [Lnc-business] Fwd: EOM Financials Dec 2013

 

Some questions with regard to the EOM Financials:

 

1.  My rudimentary knowledge of accrual accounting and GAAP tells me that, operationally (i.e. sans restricted funds and expenses), in 2013 we spent $83,082 more than we received.  Would the Treasurer please confirm this result in a rather clear definitive manner?  I got this number by subtracting what appeared to be restricted funds from the revenue side and restricted fund raising expenses from the expense side.  ($143,404 – 247,319 + 20,833)  Please advise what the real 2013 operational bottom line is.

2.  Our basic source of operating revenue (lines 20 thru 23: generally unrestricted revenues) for 2013 appear to me to be $177,612.95 less than budgeted. Our 2014 budget is based on increases (8%) in these (now) prior year numbers.  Are we not skating on some rather thin ice?

3.  The Chair is rightly concerned about the difficulty of creating and managing special projects.  We could not allocate budgetary funds for fighting Top Two because it was not a project.  Yet I see budget/revenue/and expense lines for Radio Ad Project and Legal Offense Fund.  Is there some double standard in play here? Who gets to create budget lines for projects?  Why is it that we can’t we have one for fighting Top Two?

 

Norm

--

Norman T Olsen

Regional Representative, Region I

Libertarian National Committee

7931 S Broadway, PMB 102

Littleton, Colorado  80122-2710

303-263-4995

Norman.Olsen at lp.org

 

"First they ignore you, then they ridicule you, then they fight you, then you win." -- Gandhi

 

-----Original Message-----
From: Lnc-business [mailto:lnc-business-bounces at hq.lp.org] On Behalf Of Timothy Hagan
Sent: Sunday, February 02, 2014 9:23 PM
To: LNC Business
Subject: [Lnc-business] Fwd: EOM Financials Dec 2013

 

The December End-Of-Month financial reports are attached. The Salary Expenses are higher since it includes the fourth quarter and end-of-year bonuses.

 

Tim Hagan



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