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

[Tim Hagan]

The December end-of-month financial reports are attached. 

A donor generously contributed $50,000 for the Building Fund. The funds
were used to pay for the $12,818 new HVAC along with paying down the
mortgage. The mortgage is now at $103,105. Incidentally, the
contribution limit for the Building Fund is $106,500. 

The December revenues on the Profit & Losses Report includes $60,768 for
the Building Fund, and various end-of-year adjustments done with the
auditor in preparation of his field work. The big adjustment was the
annual booking of CRM Development Expenses. While the Profit & Loss
Report shows a surplus of $108,969 for December, the Statement of Cash
Flow on page 12 shows the actual cash increase for the month was only
$29,999. 

Note that Candidate Support went over budget by $12,910. 

In last month's report, I mentioned the reserve showed a change from the
LNC changing how the reserve is calculated. A party member inquired how
the graph would look if we used the current formula for all of the
months in the graph. The attached Reserve Calculations.pdf shows the
reserve for each month of last year using the previous formula and the
current formula.

---
Tim Hagan
Treasurer, Libertarian National Committee
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