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<div class="moz-cite-prefix">Am 19.04.2020 um 23:23 schrieb Allan
Mustard:<br>
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<p><font face="Helvetica, Arial, sans-serif">As I understand it
(fellow Board members, please correct me if I am wrong), the
micro-grant funds are covered by a donation earmarked for that
purpose so have no impact on the OSMF budget per se.</font></p>
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<p>I'm assuming that was referred to is the Pineapple fund donation
that AFAIK didn't have any strings attached and was accounted in
full as income. So in turn any grant financed out of that will hit
the P&L normally. Don't want to harp on that all too much, it
is just red numbers always need more explaining. <br>
</p>
<p>It does raise a couple of interesting accounting and tax
questions though (which are unlikely to be of general interest so
shutting up now).</p>
<p>Simon<br>
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cite="mid:13f43d06-f848-db9a-9fa9-3d5d3b3588a7@mustard.net">
<p><font face="Helvetica, Arial, sans-serif">Loss of SOTM revenue</font><font
face="Helvetica, Arial, sans-serif"><font face="Helvetica,
Arial, sans-serif"> may </font> affect us but it is too
early to tell, since expenses will be lower for a virtual
conference. We haven't done the calculations--there are some
unknowns out there. <br>
</font></p>
<p><font face="Helvetica, Arial, sans-serif">That said, we are
sitting on rather substantial reserves. Our current main
order of business is transferring from Barclays to a new bank,
because Barclays decided unilaterally to terminate its
business relationship with us. Once that is behind us and we
are settled into a new bank, we will start looking at both
revenue and expenses a bit more systematically. I apologize
for the delay in estimating a 2020 budget. We are working on
it but so far have funded the OWG request fully for 2020.<br>
</font></p>
<p><font face="Helvetica, Arial, sans-serif">Yes, we also want
quarterly financial reports.</font></p>
<p><font face="Helvetica, Arial, sans-serif">apm</font></p>
<div class="moz-cite-prefix">On 4/19/2020 2:06 PM, Simon Poole
wrote:<br>
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cite="mid:c361e308-e116-a1bd-22e7-4da577541840@poole.ch">
<pre class="moz-quote-pre" wrap="">I'm kind of curious and haven't seen any deliberations on this in any of
the minutes (and yes I'm aware there isn't a published 2020 budget): has
the board considered the effects of losing the income from SotM in 2020
and 21?
While the foundation is no longer as dependent on SotM surpluses as it
used to be when they were the only regular source of non-earmarked
funds, it would seem as if potentially this and next year could dip
slightly in to the red. This will naturally depend substantially on how
much of the micro-grant funds are distributed, as this is roughly 50% on
top of a regular OSMF budget, so we might worst case dip for guestimate*
Euro 100k in to the reserves.
Simon
* I know this has been sabotaged a bit by numerous accounting related
changes, but could we get quarterly financial reports back? Particularly
in a time of turmoil it is important to know where you stand and if it
isn't even for the members, the board should have them for itself.
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