[Osmf-talk] [OSM-talk] Modus operandi of the board

Simon Poole simon at poole.ch
Wed Oct 22 11:20:44 UTC 2014

Am 22.10.2014 12:15, schrieb Martin Koppenhoefer:
> btw, there should be a "all values in GBP" or similar on this page:
> http://www.osmfoundation.org/wiki/Finances/Balance_Sheet_2012
> I wonder if there shouldn't be some explanatory words in general for
> these tables, they are not really selfexplaing for someone not deeply
> into this.

I suspect that is not really solvable in a general fashion.
> E.g. I can see that most money gets transferred via PayPal. Are the
> PayPal numbers in the Assets section net numbers, i.e. are the fee and
> other charges and taxes and exchange losses etc., already subtracted?
> Can we get figures how the bank charges and exchange fees are composed
> (which bank is this referring to, Barclays or PayPal)?

The following is to be taken with a couple of grains of salt given that
I'm neither the treasurer nor an accountant by profession. Further 2012
was before I was on the board.

The balance sheet will in general show the net value of the items, in
the case of fixed assets that are depreciated over time you have to
deduct the depreciation. The "Office Equipment" row is what it cost to
purchase the equipment, the depreciation is the loss in value over time,
the difference is the current book value. We currently depreciate
computer hardware over 4 years, straight line.

> What are prepayments?

One of the principles of accounting is matching expenses and income to
the periods when they actually occurred and not when cash changed hands
(or not). See http://en.wikipedia.org/wiki/Matching_principle

In the specific case the largish sum is likely sponsorship for SOTM
which has typically takes place just after the end of the financial
year. The timing results in the cash for sponsorship arriving in the
OSMF accounts just before the end of the financial year and the costs
well in to the next one.

Typically you will see a lot of this if you produce financials for
reporting purposes for short intervals (for example quarters) during the
year. In the case of the OSMF this is, as said, mainly due to timing of

> What are
> Bad Debts Written off (specific) 	1,639 	
> ?

Money owed to the foundation that has been deemed unrecoverable.

> What have the other professional fees besides "Accountancy and Legal"
> been spent for?

2012 I believe we paid for some software development and consulting in
conjunction with the licence change, that is likely to be at least part
of the sum.

> Why is Computer Depreciation in the INCOME 2012 14,935 GBP
> 	Depreciation Charge: Computer Equipment 	14,935 	
> but in the balance sheet 2012 Office Equipment Depreciation is 37,176?
> What other office equipment besides the computers are in the assets to
> make up such a big difference?
> etc.

There is only computer HW included in the Office Equipment category, for
the mechanics of depreciation see above.

Note: the proper place to have asked the questions would have been
before or at the the GM in Birmingham when these figures were formally


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