[Lnc-business] Fwd: EOM Financials Dec 2013

[Timothy Hagan]

On the Standard Statement of Operations (page 5 of the financial 
reports), the rows that are restricted revenues and expenses are 
25-Project Program Revenue, 37-Building Fundraising Expenses, 58-Campus 
Outreach, and 90-Project Program Other. If you don't include these 
amounts, then the totals for unrestricted funds are:

Support and Revenues:         $1,046,303.81
Cost of Support & Revenues: $243,131.32
Program Expenses:                 $866,526.53

Thus, the operational deficit for 2013 was $63,354.04. 
(1046303.81-243131.32-866526.53)
Since the budgeted revenues was $1,163,250, the unrestricted revenues 
were $116,946.19 less than budgeted. The Cost of Support & Revenues and 
the Program Expenses also ran below budget.

Tim Hagan

On 2/3/2014 2:19 PM, Norm Olsen wrote:
>
> 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
>
>
>
> _______________________________________________
> Lnc-business mailing list
> Lnc-business at hq.lp.org
> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://hq.lp.org/pipermail/lnc-business/attachments/20140204/a6956a2c/attachment-0002.html>