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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoPlainText>Some questions with regard to the EOM Financials:<o:p></o:p></p><p class=MsoPlainText><o:p> </o:p></p><p class=MsoPlainText style='margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'> </span></span><![endif]>My rudimentary knowledge of accrual accounting and GAAP tells me that, operationally (i.e. sans restricted funds and expenses), in 2013 we spent <span style='font-size:14.0pt;color:red'>$83,082</span> 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 <span style='font-size:14.0pt;color:red'>real</span> 2013 operational bottom line is.<o:p></o:p></p><p class=MsoPlainText style='margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'> </span></span><![endif]>Our basic source of operating revenue (lines 20 thru 23: generally unrestricted revenues) for 2013 appear to me to be <span style='font-size:14.0pt;color:red'>$177,612.95</span> 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?<o:p></o:p></p><p class=MsoPlainText style='margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='mso-list:Ignore'>3.<span style='font:7.0pt "Times New Roman"'> </span></span><![endif]>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?<o:p></o:p></p><p class=MsoPlainText><o:p> </o:p></p><p class=MsoPlainText>Norm<o:p></o:p></p><p class=MsoPlainText>--<o:p></o:p></p><p class=MsoPlainText>Norman T Olsen<o:p></o:p></p><p class=MsoPlainText>Regional Representative, Region I<o:p></o:p></p><p class=MsoPlainText>Libertarian National Committee<o:p></o:p></p><p class=MsoPlainText>7931 S Broadway, PMB 102<o:p></o:p></p><p class=MsoPlainText>Littleton, Colorado 80122-2710<o:p></o:p></p><p class=MsoPlainText>303-263-4995<o:p></o:p></p><p class=MsoPlainText>Norman.Olsen@lp.org<o:p></o:p></p><p class=MsoPlainText><o:p> </o:p></p><p class=MsoPlainText>"First they ignore you, then they ridicule you, then they fight you, then you win." -- Gandhi<o:p></o:p></p><p class=MsoPlainText><o:p> </o:p></p><p class=MsoPlainText>-----Original Message-----<br>From: Lnc-business [mailto:lnc-business-bounces@hq.lp.org] On Behalf Of Timothy Hagan<br>Sent: Sunday, February 02, 2014 9:23 PM<br>To: LNC Business<br>Subject: [Lnc-business] Fwd: EOM Financials Dec 2013</p><p class=MsoPlainText><o:p> </o:p></p><p class=MsoPlainText>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.<o:p></o:p></p><p class=MsoPlainText><o:p> </o:p></p><p class=MsoPlainText>Tim Hagan<o:p></o:p></p></div></body></html>