[Osmf-talk] Treasurer's Report for the 2018 AGM

Andy Allan gravitystorm at gmail.com
Wed Dec 12 09:51:56 UTC 2018

On Wed, 12 Dec 2018 at 00:27, Frederik Ramm <frederik at osmfoundation.org> wrote:
> Hi,
> I have put my financial report online here:
> https://wiki.osmfoundation.org/wiki/Finances/Treasurer%27s_Report_for_the_December_2018_AGM
> I'm happy to take any questions about our finances, here or in the AGM
> on Saturday.

I'm glad to see that we've moved to an online accounting system
(namely Xero) - something you know I've been looking forward to for a
few years! Do you have any information about how the system is being
used for helping our working groups manage their expenditure? For
example, we could use Xero's "tracking categories" to assign line
items to each working group, and produce monthly reports to each
working group on year-to-date spending. I know I would find this very
useful for OWG, and I'm happy to help you set this up.

Beyond that, I'd be interested to hear your view on large balances.
The balance sheet suggests that we've got over 100k GBP in our PayPal
balances, but personally that makes me nervous. PayPal has a history
of freezing accounts with Kafkaesque procedures to recover access, and
I'd be happy to see these routinely drained into regular bank

The other large balances we hold are with Barclays. Admittedly a much
smaller risk that losing access to PayPal, it's worth noting that only
the first £85,000 GBP is covered by the FSCS guarantee. Is this a
concern to the OSMF?

Of course, maybe the best approach to OSMF having large cash balances
is for members to come up with good ideas on what we should spend the
money on - so OSM gets the benefits sooner, rather than later. I
encourage all the working groups to submit their 2019 budgets with
this in mind!


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