[Lnc-business] July End-of-Month Financial Reports

[Steven Nekhaila]

I wholeheartedly agree, I would be in favor of instituting surplus 
spending and barring getting into debt unless absolutely necessary (for 
things like mortgages, etc). We should put time on the agenda to discuss 
this with our treasurer and go over the numbers moving forward, we many 
need to adjust our budget moving forward to keep our heads above water.

In Liberty,

Steven Nekhaila
Region 2 Representative
Libertarian National Committee

Impotentes defendere libertatum non possunt
"Those without power cannot defend freedom"

On 2018-08-27 03:32 AM, Caryn Ann Harlos via Lnc-business wrote:
> Alicia is utterly and absolutely RIGHT.  Warning bells need to be
>    sounding loud on this budget issue and all hands on deck.  Last LNC
>    left this LNC with a HUGE deficit budget (I would like us to 
> consider a
>    Policy Manual change about deficit budgets making them either
>    disallowed or very very difficult to pass).  I understand all the
>    arguments made for it last year - and did not vote for it myself.  
> But
>    that is water under the bridge, what are we going to do NOW?
>      ************
>      In Liberty,
>    [uc?id=1DeRjq-L8dvRZabgEG94VkkUvjoHatcfP&export=download]
>    Libertarian Party and Libertarian National Committee
>    Secretary - [1]Caryn.Ann. Harlos at LP.org or Secretary at LP.org.
>    Chair, LP Historical Preservation Committee - LPedia at LP.org
>    Call me at 561.523.2250 and follow my public figure page
>    at [2]facebook.com/pinkflameofliberty/
>    
> =======================================================================
>    ==
>    Peaceful Commerce With All Nations * Non-interventionism * 
> Re-Legalize
>    All Drugs * End Government Intrusion In The Bedroom * Repeal All Gun
>    Laws * Abolish All Taxation * Sound, Free-market Money * Abolish The
>    Fed * End Corporate & Individual Welfare * Abolish The IRS and 
> Repeal
>    the Income Tax * Privatize Transportation Infrastructure * 
> Free-market
>    Emergency Services * Open Migration * Transfer Government Schools To
>    The Private Sector * Eliminate Regulation *
>    VOTE LIBERTARIAN * 800-ELECT-US or [3]http://www.LP.org
>    
> =======================================================================
>    ==
> 
>    On Mon, Aug 27, 2018 at 12:49 AM Alicia Mattson via Lnc-business
>    <[4]lnc-business at hq.lp.org> wrote:
> 
>      Colleagues,
>      It is time for the LNC to start paying very close attention to our
>      finances.  We cannot just casually vote "yes" on every spending
>      request that makes us feel good.
>      The report that we just received says that we have $127k of cash,
>      but
>      we owe vendors $146k.  In addition, our other "current" 
> liabilities
>      (payable within 1 year) are another $40k.  Some of those current
>      liabilities will come due much sooner than others.  For instance,
>      accrued payroll will need to be paid much sooner than all the
>      accrued
>      vacation obligations.
>      We're essentially insolvent.  This is even after raising (without
>      looking) something in the realm of $60k at the convention
>      fundraising
>      banquet.
>      I presume that the bequests listed as current assets can't happen
>      until at least January when the FEC annual limits reset?  The only
>      other entry that looks like accounts receivable is another $5k of
>      convention revenues that I guess is unfulfilled pledges?  If they
>      haven't made good by now, it may not happen at all...
>      For the year, we've spent $138k more than we've taken in.  That
>      burned
>      through the cash surplus we had from past operations, and now 
> we're
>      a
>      in the hole.
>      It was a really bad idea to adopt a $245k deficit budget because 
> the
>      spending is all authorized, even without the revenues to support 
> the
>      spending.
>      -Alicia
>      On Sun, Aug 26, 2018 at 7:17 PM Tim Hagan via Lnc-business
>      <[5]lnc-business at hq.lp.org> wrote:
>      >
>      >    The July End-of-Month Financial Reports are attached. The
>      reserve is
>      >    still negative. We've managed by delaying paying the full
>      amount owed
>      >    to the Hyatt Regency. They were paid $50,000 in August.
>      >
>      >    ---
>      >    Tim Hagan
>      >    Treasurer, Libertarian National Committee
> 
> References
> 
>    1. mailto:Caryn.Ann.Harlos at LP.org
>    2. http://facebook.com/pinkflameofliberty/
>    3. http://www.lp.org/
>    4. mailto:lnc-business at hq.lp.org
>    5. mailto:lnc-business at hq.lp.org