DNS-OARC 2018 AGM Treasurer's Report · 2018. 10. 12. · Treasurer's Report Jacques Latour OARC29...
Transcript of DNS-OARC 2018 AGM Treasurer's Report · 2018. 10. 12. · Treasurer's Report Jacques Latour OARC29...
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DNS-OARC 2018 AGMTreasurer's Report
Jacques LatourOARC29 AGMOctober 2018
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DNS-OARC Financials 2017 Financial Statements once again indicate
audited with clean bill of health https://indico.dns-oarc.net/event/29/
attachments/620/991/OARC_2017_Financial_Statements.pdf
2017 break-even year $20k operating loss (2.7%)
2018 has been challenging for various reasons, but we believe we are on track for break-even
2018 YTD figures are for Jan-Sep
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2018 Financial Challenges Almost zero growth in paying new Members
Significant problems with existing bankers
Banking now split across two providers, migration painful/time-consuming
Exceptional unplanned costs of Systems Engineer change-over
Costs have however been contained to track below-budget revenue
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Financial Overview
2016 2017 2018YTD
2018Budget
Income $628k $741k $539k $829k
Expenses $727k $761k $541k $813k
Assets $360k $380k $457k
Cash $293k $341k $267k $309k
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Income Summary
2016 2017 2018YTD
2018 Budget
Member fees $506k $570k $450k $644k
Donations $25k $51k $60k $40k
Workshop Sponsorship, fees
$82k $63k $5k $95k
Project Funding $15k $57k $24k $50k
TOTAL $628k $741k $539k $829k
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Expenditure Summary2016 2017 2018
YTD2018
Budget
Consultants/Professional
$461k $510k $385k $552k
CapitalEquipment
$40k $22k $13k $52k
Co-location $21k $26k $17k $26k
Workshops $88k $93k $73k $97k
Other $117k $110k $53k $86k
TOTAL $727k $761k $541k $813k
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Long-Term Financial Targets
Strategy from Feb 2017 Retreat: $1M revenue by 2019 Build 1 year's operation of cash reserves
by 2020
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Questions ?