[Lnc-business] updated financials before voting on South Dakota?

[Tim Hagan]

Sorry, forgot to attach the report.
Tim
      From: Tim Hagan <timhagan-tyr at yahoo.com>
 To: lnc-business <lnc-business at lp.org> 
 Sent: Thursday, September 3, 2015 6:16 PM
 Subject: Re: [Lnc-business] updated financials before voting on South Dakota?
   
The July End-of-Month Financial Reports are attached.

I consulted with the auditor, and we decided to re-book the bequest into 2015. The amount booked in 2014 kept changing when we received new estimates. In order to conform to GAAP, bequests will be booked when the first payment is made, or when we receive notice of the exact & final amount from a will's probate.

There was a mix-up or miscommunication resulting in 2014 Year-End Bonuses to be erroneously paid. The former Chair had originally told staff that the goal for bonuses in 2014 will be $1.4 M. The files did not get updated to reflect the Executive Committee setting the goal to $1.5 M. The two employees affected have paid back their bonuses via payroll deductions.

Tim Hagan
   

   From: Alicia Mattson <agmattson at gmail.com>
 To: lnc-business <lnc-business at lp.org> 
 Sent: Thursday, September 3, 2015 2:15 PM
 Subject: [Lnc-business] updated financials before voting on South Dakota?
   
Since the FEC filing for the month of July was due on Aug 20, could the EC get at least a preliminary set of updated financials before we vote potentially spending $17k-$20k tonight?  The latest financials I could find were as of the end of June.

On the call tonight, I will also want to know what our unrestricted cash is and what our current liabilities are as of this week.

Thanks,
Alicia


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