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The November and December Financials are attached. I did not have
good Internet access where I was at the last week of December. I
don't believe that the November report got sent, so it is included
here.<br>
<br>
The LNC ended the year 2012 under budget for both revenues and
expenses. The year's revenues were $1,484,850, and expenses were
$1,646,065. The revenues were $141,050 less than the budget
expected, and expenses were $138,335 under budget. The cost of
support and revenue accounted for 25.3% of expenses, 21.8% was
administrative and overhead costs, and 52.9% was spent on programs.
The largest amount on programs went to ballot access.<br>
<br>
Building Fund<br>
<br>
The Building Fund has $116,717, not including pledges.<br>
The first motion that passed concerning purchasing a building (Mr.
Wiener's motion) had as one condition for unrestricted general fund
balance must exceed $167,000 before a purchase contract and loan
agreement are finalized. On the December End-of-Month report, the
Total Assets minus Restricted Balances equals $140,409 ($275,000 -
$134,591). My understanding is that the motion that passed January
31 (Mr. Hinkle's motion) supersedes the previous motion. If that is
true (please correct me if I am wrong), then we do not need to track
the amount of unrestricted assets as part of determining when a
building may be purchased.<br>
<br>
Tim Hagan<br>
Treasurer<em><br>
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