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On the Standard Statement of Operations (page 5 of the financial
reports), the rows that are restricted revenues and expenses are
25-Project Program Revenue, 37-Building Fundraising Expenses,
58-Campus Outreach, and 90-Project Program Other. If you don't
include these amounts, then the totals for unrestricted funds are:<br>
<br>
Support and Revenues: $1,046,303.81<br>
Cost of Support & Revenues: $243,131.32<br>
Program Expenses: $866,526.53<br>
<br>
Thus, the operational deficit for 2013 was $63,354.04.
(1046303.81-243131.32-866526.53)<br>
Since the budgeted revenues was $1,163,250, the unrestricted
revenues were $116,946.19 less than budgeted. The Cost of Support
& Revenues and the Program Expenses also ran below budget.<br>
<br>
Tim Hagan<br>
<br>
<div class="moz-cite-prefix">On 2/3/2014 2:19 PM, Norm Olsen wrote:<br>
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<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"><a class="moz-txt-link-abbreviated"
href="mailto:Norman.Olsen@lp.org">Norman.Olsen@lp.org</a><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 [<a class="moz-txt-link-freetext"
href="mailto:lnc-business-bounces@hq.lp.org">mailto:lnc-business-bounces@hq.lp.org</a>]
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>
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