LO_OP2013treasurer_report

LO*OP Annual Board Meeting: Nov. 3, 2013 Treasury Report

(Back to Corporate Business page)
 * ** LO*OP Center Balance Sheet 2012-13 ** || July 1, 2012 to June 30, 2013 ||
 * **Assets** ||  || Cash Value || Totals ||
 * || checking account || 6,146.04 ||  ||
 * || Endowment || 38,913.96 ||  ||
 * || Websites & Domains || 2,000.00 ||  ||
 * || Office equipment, furniture || 0.00 ||  ||
 * || Office supplies || 0.00 ||  ||
 * || Collection (no cash value) || __0.00__ ||  ||
 * ||  || 47,060.00 || 47,060.00 ||
 * **Liabilities** ||  ||   ||   ||
 * || debt to Liza Loop || __5,133.51__ || 5,133.51 ||
 * **Net Worth** ||  ||   || 41,926.49 ||
 * **Net Worth** ||  ||   || 41,926.49 ||
 * **Net Worth** ||  ||   || 41,926.49 ||

See notes on General Ledger below || ** General ** || ** Ledger ** ||  || ** 2012-13 ** ||   ||   ||   ||   ||
 * ** LO*OP Center **
 * Date ||  ||   ||   ||   ||   ||   ||   ||   || Cummulative ||
 * ||  || Expense || Expense ||   || Revenue || Revenue || Calculated || Bank || Owed Liza ||
 * || Description || Source || Amount ||  || Source || Amount || Bal || Balance ||   ||
 * 2012 ||  ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Jul-12 || Opening Balance ||  ||   ||   |||| Bank Balance ====> ||   || ** 10,987.87 ** ||   ||
 * 7/6/2012 || Merrill-Lynch div/int ||  ||   ||   || Endowment || 67.12 || 11,054.99 ||   ||   ||
 * 7/29/2012 || Checking Int. ||  ||   ||   || Interest || 0.43 || 11,055.42 ||   ||   ||
 * July Totals ||  || 0.00 ||   ||   || 67.55 ||   ||   ||   ||
 * Aug |||| Bank balance entered from statement ||  ||   ||   ||   || 11,055.47 || 11,055.47 ||   ||
 * 6-Aug || Merrill-Lynch div/int ||  ||   ||   || Endowment || 71.96 || 11,127.43 ||   ||   ||
 * 8/31/2012 || Checking Int. ||  ||   ||   || Interest || 0.47 || 11,127.90 ||   ||   ||
 * Aug Totals ||  || 0.00 ||   ||   || 72.43 ||   ||   ||   ||
 * Sept ||  ||   ||   ||   ||   ||   || 11,127.90 || 11,127.90 ||   ||
 * || Merrill-Lynch div/int ||  ||   ||   || Endowment || 115.52 || 11,243.42 ||   ||   ||
 * || Checking Int. ||  ||   ||   || Interest || 0.42 || 11,243.84 || 11,243.84 ||   ||
 * Sept Totals ||  || 0.00 ||   ||   || 115.94 ||   ||   ||   ||
 * Oct ||  ||   ||   ||   ||   ||   || 11,243.84 || 11,243.84 ||   ||
 * || Merrill-Lynch div/int ||  ||   ||   || Endowment || 60.10 || 11,303.94 ||   ||   ||
 * || Checking Int. ||  ||   ||   || Interest || 0.50 || 11,304.44 ||   ||   ||
 * Oct Totals ||  || 0.00 ||   ||   || 60.60 ||   ||   ||   ||
 * Nov ||  ||   ||   ||   ||   ||   || 11,304.44 || 11,304.44 ||   ||
 * || Merrill-Lynch div/int ||  ||   ||   || Endowment || 61.45 || 11,365.89 ||   ||   ||
 * || Checking Int. ||  ||   ||   || Interest || 0.45 || 11,366.34 ||   ||   ||
 * Nov Totals ||  || 0.00 ||   ||   || 61.90 ||   ||   ||   ||
 * Dec ||  ||   ||   ||   ||   ||   || 11,366.34 || 11,366.34 ||   ||
 * || Merrill-Lynch div/int ||  ||   ||   || Endowment || 57.63 || 11,423.97 ||   ||   ||
 * || Checking Int. ||  ||   ||   || Interest || 0.47 || 11,424.44 ||   ||   ||
 * Dec Totals ||  || 0.00 ||   ||   || 58.10 ||   ||   ||   ||
 * Jan ||  ||   ||   ||   ||   ||   || 11,424.44 || 11,424.44 ||   ||
 * 1/4/2013 || Merrill-Lynch div/int ||  ||   ||   || Endowment || 343.92 || 11,768.36 ||   ||   ||
 * 1/8/2013 || BANK-BY-MAIL DEPOSIT ||  ||   ||   || Endowment || $19.29 || 11,787.65 ||   ||   ||
 * 1/13/2013 || Sobrato Foundation || occupancy 2012 || 2,560.50 ||  ||   ||   || 9,227.15 ||   ||   ||
 * 1/13/2013 || Tom Trimbath || HCLE consulting || 800.00 ||  ||   ||   || 8,427.15 ||   ||   ||
 * 1/21/2013 || Tom Trimbath || HCLE consulting || 800.00 ||  ||   ||   || 7,627.15 ||   ||   ||
 * 1/13/2013 || Sobrato Foundation || occupancy Jan Feb Mar || 873.75 ||  ||   ||   || 6,753.40 ||   ||   ||
 * 1/31/2013 || Union Bank ||  ||   ||   || Interest || 0.41 || 6,753.81 ||   ||   ||
 * Jan Totals ||  ||   || 5,034.25 ||   ||   || 363.62 ||   ||   ||   ||
 * Feb ||  ||   ||   ||   ||   ||   || 6,753.81 || 7,553.81 || #1944outstanding ||
 * || Merrill-Lynch div/int ||  ||   ||   || Endowment || 57.63 || 6,811.44 ||   ||   ||
 * || Checking Int. ||  ||   ||   || Interest || 0.47 || 6,811.91 ||   ||   ||
 * 2/27/2013 || GODADDY.CO 14455 N. Hayden 480-5058855 AZ || Liza Loop || $819.02 ||  ||   ||   || 5,992.89 ||   || $819.02 ||
 * 2/28/2013 || wwwzeticke co Reutersward Stockholm SW || Liza Loop || $100.90 ||  ||   ||   || 5,891.99 ||   || $100.90 ||
 * || Checking Int. ||  ||   ||   ||   || 0.27 || 5,892.26 ||   ||   ||
 * Feb Totals ||  || 919.92 ||   ||   || 58.37 ||   ||   || 919.92 ||
 * March ||  ||   ||   ||   ||   ||   || 5,892.26 || 6,754.08 ||   ||
 * 6-Mar || Merrill-Lynch div/int ||  ||   ||   || Endowment || 52.93 || 5,945.19 ||   ||   ||
 * || reimbursement ||  ||   ||   ||   ||   || 5,945.19 ||   ||   ||
 * 3/29/2013 || Checking Int. ||  ||   ||   || Interest || 0.26 || 5,945.45 ||   ||   ||
 * March Totals ||  || 0.00 ||   ||   || 53.19 ||   ||   || 919.92 ||
 * April ||  ||   ||   ||   ||   ||   || 5,945.45 || 6,807.27 ||   ||
 * 4/2/2013 || Merrill-Lynch div/int ||  ||   ||   || Endowment || 49.42 || 5,994.87 ||   ||   ||
 * 4/2/2013 || PAYPAL *MW 7700 EASTPORT P 4029357733 MD || Liza Loop || $700.00 ||  ||   ||   || 5,294.87 ||   || $1,619.92 ||
 * 4/2/2013 || PAYPAL *MW 7700 EASTPORT P 4029357733 MD || Liza Loop || $800.00 ||  ||   ||   || 4,494.87 ||   || $2,419.92 ||
 * 4/5/2012 ||  ||   ||   ||   ||   ||   || 4,494.87 ||   || $2,419.92 ||
 * 4/8/2013 || SOUTHWES 2702 Love Field 800-435-9792 TX || Liza Loop || $196.80 ||  ||   ||   || 4,298.07 ||   || $2,616.72 ||
 * 4/10/2013 || GODADDY.CO 14455 N. Hayden 480-5058855 AZ || Liza Loop || $281.60 ||  ||   ||   || 4,016.47 ||   || $2,898.32 ||
 * 4/16/2012 ||  ||   ||   ||   ||   ||   || 4,016.47 ||   || $2,898.32 ||
 * 4/15/2013 || EXPEDIA*15 333 108TH AVE N 800-367-3476 NV || Liza Loop || $73.11 ||  ||   ||   || 3,943.36 ||   || $2,971.43 ||
 * 4/16/2013 || BLUE STAR 8250 NE MLK JR. PORTLAND OR || Liza Loop || $16.00 ||  ||   ||   || 3,927.36 ||   || $2,987.43 ||
 * 4/17/2013 || MARRIOTT 3 1401 SW NAITO P PORTLAND OR || Liza Loop || $18.50 ||  ||   ||   || 3,908.86 ||   || $3,005.93 ||
 * 4/18/2013 || FEDEXOFFIC 1400 SW 5TH AVE PORTLAND OR || Liza Loop || $34.99 ||  ||   ||   || 3,873.87 ||   || $3,040.92 ||
 * 4/18/2013 || PAYPAL *MW 7700 EASTPORT P SILVER SPRI MD || Liza Loop || $175.00 ||  ||   ||   || 3,698.87 ||   || $3,215.92 ||
 * 4/22/2013 || BLUE STAR 8250 NE MLK JR. PORTLAND OR || Liza Loop || $16.00 ||  ||   ||   || 3,682.87 ||   || $3,231.92 ||
 * 4/22/2013 || MARRIOTT 3 1401 SW NAITO P PORTLAND OR || Liza Loop || $24.50 ||  ||   ||   || 3,658.37 ||   || $3,256.42 ||
 * 4/22/2013 || MARRIOTT 3 1401 SW NAITO P PORTLAND OR || Liza Loop || $26.00 ||  ||   ||   || 3,632.37 ||   || $3,282.42 ||
 * 4/22/2013 || MARRIOTT 3 1401 SW NAITO P PORTLAND OR || Liza Loop || $31.50 ||  ||   ||   || 3,600.87 ||   || $3,313.92 ||
 * 4/22/2013 || TRAVELODGE 2401 SW 4TH AVE PORTLAND OR || Liza Loop || $160.50 ||  ||   ||   || 3,440.37 ||   || $3,474.42 ||
 * 4/23/2013 || MARRIOTT 3 1401 SW NAITO P PORTLAND OR || Liza Loop || $643.34 ||  ||   ||   || 2,797.03 ||   || $4,117.76 ||
 * 4/23/2013 || LLUB#5641-Tom Trimbath - for LO*OP/HCLE - consult || Liza Loop || $800.00 ||  ||   ||   || 1,997.03 ||   || $4,917.76 ||
 * 4/23/2013 || LLUB#5642-Tom Trimbath - for LO*OP/HCLE - travel || Liza Loop || $150.00 ||  ||   ||   || 1,847.03 ||   || $5,067.76 ||
 * 4/29/2013 || SFMOMA ADM 151 THIRD ST SAN FRANCISCO CA || Liza Loop || $13.00 ||  ||   ||   || 1,834.03 ||   || $5,080.76 ||
 * 4/29/2013 || STEAK OUT 383 CASTRO STRE MOUNTAIN VIEW CA || Liza Loop || $20.75 ||  ||   ||   || 1,813.28 ||   || $5,101.51 ||
 * 4/29/2013 || 58 CITY PA 555 MARKET ST SAN FRANCISCO CA || Liza Loop || $32.00 ||  ||   ||   || 1,781.28 ||   || $5,133.51 ||
 * 4/30/2013 || Union Bank ||  ||   ||   || Interest || 0.29 || 1,781.57 ||   ||   ||
 * April Totals ||  || $4,213.59 ||   ||   || 49.71 || -2,382.31 ||   || $5,133.51 ||
 * ||  ||   ||   ||   ||   ||   || -2,382.31 ||   ||   ||
 * May ||  ||   ||   ||   ||   ||   || -2,382.31 || 6,856.98 ||   ||
 * 5/6/2013 || Merrill-Lynch div/int ||  ||   ||   || Endowment || 55.26 || -2,327.05 ||   ||   ||
 * 5/13/2013 || Google Sv Chg ||  ||   ||   ||   || 0.32 || -2,326.73 ||   ||   ||
 * 5/31/2013 || Checking Int. ||  ||   ||   || Interest || 0.28 || -2,326.77 || 6,012.84 ||   ||
 * May Totals ||  || 0.00 ||   ||   || 55.86 || -2,270.91 ||   || 5,133.51 ||
 * ||  ||   ||   ||   ||   ||   || -2,270.91 ||   ||   ||
 * June ||  ||   ||   ||   ||   ||   || -2,270.91 || 6,912.84 ||   ||
 * 6/4/2013 || BANK-BY-MAIL DEPOSIT || Additions ||  ||   || Endowment || $57.95 || -2,212.96 ||   ||   ||
 * 6/21/2013 || Check #2009 || Checks || $25.00 ||  ||   ||   || -2,237.96 ||   ||   ||
 * 6/25/2013 || Check #2010 || Checks || $800.00 ||  ||   ||   || -3,037.96 ||   ||   ||
 * 6/28/2013 || INTEREST PAYMENT ||  ||   ||   || Interest || $0.25 || -3,037.71 ||   ||   ||
 * June Totals ||  || 825.00 ||   ||   || 58.20 || -3,804.51 ||   || 5,133.51 ||
 * ||  ||   ||   ||   ||   ||   || -3,804.51 ||   ||   ||
 * || Annual Expenses ||  || 10,992.76 |||| Annual Revenue || 1,075.47 ||   || 6,146.04 ||   ||
 * ||  ||   ||   |||| Surplus/Loss || -9,917.29 ||   || -9,950.55 ||   ||
 * 5/31/2013 || Checking Int. ||  ||   ||   || Interest || 0.28 || -2,326.77 || 6,012.84 ||   ||
 * May Totals ||  || 0.00 ||   ||   || 55.86 || -2,270.91 ||   || 5,133.51 ||
 * ||  ||   ||   ||   ||   ||   || -2,270.91 ||   ||   ||
 * June ||  ||   ||   ||   ||   ||   || -2,270.91 || 6,912.84 ||   ||
 * 6/4/2013 || BANK-BY-MAIL DEPOSIT || Additions ||  ||   || Endowment || $57.95 || -2,212.96 ||   ||   ||
 * 6/21/2013 || Check #2009 || Checks || $25.00 ||  ||   ||   || -2,237.96 ||   ||   ||
 * 6/25/2013 || Check #2010 || Checks || $800.00 ||  ||   ||   || -3,037.96 ||   ||   ||
 * 6/28/2013 || INTEREST PAYMENT ||  ||   ||   || Interest || $0.25 || -3,037.71 ||   ||   ||
 * June Totals ||  || 825.00 ||   ||   || 58.20 || -3,804.51 ||   || 5,133.51 ||
 * ||  ||   ||   ||   ||   ||   || -3,804.51 ||   ||   ||
 * || Annual Expenses ||  || 10,992.76 |||| Annual Revenue || 1,075.47 ||   || 6,146.04 ||   ||
 * ||  ||   ||   |||| Surplus/Loss || -9,917.29 ||   || -9,950.55 ||   ||
 * ||  ||   ||   |||| Surplus/Loss || -9,917.29 ||   || -9,950.55 ||   ||

Wow! Liza prepared this report. I'm going to switch to the first person to explain the general ledger. There are mistakes in this version which I'll work on in the next few days. The numbers won't change more that a few hundred dollars but I like things to balance and they don't at the moment. I did want you to have something to look at in the meantime.
 * 1) I'm not an accountant. I would welcome help in formatting this report properly. I'll try to make my notations clear for you.
 * 2) Column headings: __Expense Source__ - when no source is specified the money comes from our general fund through our checking account. In 2013 I began paying for some LO*OP Center purchases with my debit card or personal check. These expenses are noted in the expense column and again in the __Owed Liza__ column. I expect to erase this debt in November when our next grant comes in. __Revenue Source__ tells where the money comes from that is deposited into our checking account and/or how a bill got paid. The __Calculated Balance__ column is previous balance plus revenue minus expenses. Because we started with a comfortable positive balance this column stays positive for quite a while. As I begin to loan money to LO*OP this column gets red. The __Bank Balance__ column shows our actual cash in the bank.
 * 3) We started our fiscal year with money in the bank and our endowment invested in mutual fund at Merrill-Lynch/Bank of America. I haven't been ready to jump in to the museum project for a couple of years because I knew it would be expensive. Nothing much happens in the second half of 2012 beyond collecting our endowment dividends and checking interest.
 * 4) Our offices in Milpitas cost between $300 and $400 per month. This is a common occupancy fee and varies depending on how much gardening and repair work is done by the Sobrato Center for Nonprofits. They subsidize our "rent". Most of our artifacts are stored there. Occasionally I visit, pick up the mail and search for a particularly interesting item. Be aware that the occupancy fee is accruing during the months that our cash accounting shows no expenses. You will find it in January and again in the 2013-14 Fiscal year accounting (which isn't available just yet.)
 * 5) In January, 2013 I hired Tom Trimbath as part time Project Manager. Tom actually is a rocket scientist (retired) and has a lot of project management experience. The past several years have amply demonstrated that I am not capable of doing this project without someone like Tom.
 * 6) At the end of February I started recreating the online domains we began years ago. Unfortunately someone else has snapped up some of the URLs we were using. This time I bought the names for 10 years. They are now LO*OP Center assets. If the Board chooses not to reimburse me for these expenditures they will become my personal assets.
 * 7) Here is where the __calculated balance__ begins to diverge from the __bank balance__. This is because the money I spend on LO*OP doesn't pass through LO*OP's check book until LO*OP pays me back. There is an error somewhere in the calculated balance column but it's not big enough to distort the picture painted by this accounting. I'll find it after I've posted the rest of the financials.
 * 8) In April Tom and I attended the Museums and the Web Conference in Portland, OR. Although it was expensive it enabled us to meet face to face every morning and to make many valuable contacts in the online museum field. Conference attendance is likely to continue to be a significant expense in years to come. After the conference two colleagues we met there came to Mt. View and we continued our conversations during which I incurred some entertainment expenses.
 * 9) Tom and I meet twice each week using Google Video phone calls and work from our homes in Guerneville, CA and Clinton, WA. Although we were very busy during May and June this activity, largely involving developing contacts on via the web, is not expensive.
 * 10) I'll try to get an accounting for July 1, 2013 through Sept. 30, 2013 (our 1st fiscal quarter) posted tomorrow along with a preliminary budget for all of FY 2013-14

Liza Loop 30 Oct., 2013 5:11 pm

Below is a draft of the First Quarter General Ledger. //It has// __mistakes __ //in it but it's the best I can do to date.// The numbers are not far off. I'm still working on it. I'm going to leave it as is for the meeting since it is not a required report and I still have to finish up the 2013-14 budget before 2 pm tomorrow. Wish me luck.


 * LO*OP Center General Ledger 2013-14 First Quarter ||  ||   ||   ||   ||   ||
 * Date ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * 7/5/1905 |||||| Expense || Income ||  ||   || Calculated || Bank || Comments || Comments ||
 * || Description || Source || Amount || Description || Source || Amount || Bal || Balance ||  ||   ||
 * ||  ||   ||   ||   ||   ||   || 6,146.04 ||   ||   ||   ||
 * 7/2/2013 |||| BANK-BY-MAIL DEPOSIT ||  |||| Endowment div || 57.65 || 6,203.69 ||   ||   ||   ||
 * 7/31/2013 |||| INTEREST PAYMENT ||  |||| Bank Interest || 0.26 || 6,203.95 ||   ||   ||   ||
 * 7/8/2013 || VRA - HCLE Conference at Sonoma St. || LL ck #5678 || 35.00 ||  ||   ||   ||   ||   ||   ||   ||
 * July Total ||  || 35.00 ||   ||   || 57.91 ||   || 6,168.95 ||   ||   ||   ||
 * ||  ||   ||   ||   ||   ||   || 6,168.95 ||   ||   ||   ||
 * ||  ||   ||   ||   ||   ||   || 6,168.95 || 6,203.95 ||   ||   ||
 * 8/6/2013 |||| BANK-BY-MAIL DEPOSIT ||  |||| Endowment div || 45.43 || 6,214.38 ||   ||   ||   ||
 * 8/13/2013 || TeamworkPM || Liza Debit Card || 24.00 ||  ||   ||   ||   ||   ||   ||   ||
 * 8/22/2013 || Check #2016 - Trimbath || Checks || 800.00 ||  ||   ||   || 5,414.38 ||   |||| consulting - project management ||
 * 8/27/2013 || Meetup Fees || Liza - Debit Card || 45.00 ||  ||   ||   ||   ||   || prof. membership ||   ||
 * 8/27/2013 || Paypal || Liza - Debit Card || 130.00 ||  ||   ||   ||   ||   || prof. membership ||   ||
 * 8/30/2013 |||| INTEREST PAYMENT ||  |||| Bank Interest || 0.23 || 5,414.61 ||   ||   ||   ||
 * Aug Total ||  || 999.00 ||   ||   || 45.66 ||   || 5,414.61 || 5,449.61 ||   ||   ||
 * ||  ||   ||   ||   ||   ||   || 5,414.61 ||   ||   ||   ||
 * 9/3/2013 || ULINE *SH 12575 ULINE DR 800-295-5510 IL || Liza - Debit Card || 92.58 ||  ||   ||   || 5,322.03 ||   || Conservation supplies ||   ||
 * 9/4/2013 |||| BANK-BY-MAIL DEPOSIT ||  |||| Endowment div || 59.21 || 5,381.24 ||   ||   ||   ||
 * 9/13/2013 || TeamworkPM || Liza Debit Card || 24.00 ||  ||   ||   ||   ||   ||   ||   ||
 * 9/25/2013 || Check #2017 - Trimbath || Checks || 800.00 ||  ||   ||   || 4,581.24 ||   |||| consulting - project management ||
 * 9/30/2013 |||| INTEREST PAYMENT ||  |||| Bank Interest || 0.21 || 4,581.45 ||   ||   ||   ||
 * 9/30/2013 |||| SERVICE CHARGE W/PAPER STATEMENT || 12.00 ||  ||   ||   || 4,569.45 ||   ||   ||   ||
 * Sept Total ||  || 928.58 ||   ||   || 59.42 ||   || 4,569.45 || 4,697.03 ||   ||   ||
 * First Quarter Totals || 1,962.58 ||  ||   || 162.99 ||   ||   ||   ||   ||   ||
 * First Quarter Totals || 1,962.58 ||  ||   || 162.99 ||   ||   ||   ||   ||   ||