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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 $116,946.19 less than budgeted. The Cost of Support
    & Revenues and the Program Expenses also ran below budget.<br>
    <br>
    Tim Hagan<br>
    <br>
    <div class="moz-cite-prefix">On 2/3/2014 2:19 PM, Norm Olsen wrote:<br>
    </div>
    <blockquote cite="mid:008801cf212d$fc7c1930$f5744b90$@com"
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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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      <pre wrap="">_______________________________________________
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</pre>
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