[Global_chapter_committee] Fixed Assets and Equipment

Kate Hartmann kate.hartmann at owasp.org
Wed Jul 13 15:20:37 EDT 2011


Actually, I'd rather have an absence of objections rather than "approval"

 

Essentially, the goal is to process requests for reimbursement on capital
expenses by allocating the purchase as a fixed asset cost to the foundation,
since local chapters do not fill out tax returns.  The local chapter retains
possession of the equipment.

 

Of course, M. Chalmers brought up the scenario where the local chapter would
donate computers to a local school with their funds.  That's ok too, but
would, of course, be handled differently.

 

Kate Hartmann

Operations Director

301-275-9403

 <http://www.owasp.org/> www.owasp.org 

Skype:  Kate.hartmann1

 

From: Sarah Baso [mailto:sarah.baso at owasp.org] 
Sent: Wednesday, July 13, 2011 3:14 PM
To: Kate Hartmann
Cc: global_chapter_committee at lists.owasp.org; alison.shrader at owasp.org
Subject: Re: [Global_chapter_committee] Fixed Assets and Equipment

 

We can cover this in our global chapter committee meetings next week. What
exactly are you asking for their "approval" on?  That it is ok for local
chapters to purchase (with chapter funds) fixed assets such as equipment,
projectors, laptops, and video equipment?

 

--Sarah

On Wed, Jul 13, 2011 at 2:09 PM, Kate Hartmann <kate.hartmann at owasp.org>
wrote:

We have recently had several requests from local chapters on reimbursement
of equipment, projectors, laptops, video equipment, etc.  These items are
considered fixed assets, and should be tracked by the foundation.  Even
though the essentially belong to the chapter, by allocating and tracking
them at the Foundation level, the accountability of the expense rests at the
foundation level.  The local chapter would then "donate" the cost of the
equipment back to the Foundation.

 

I am not an accountant, and we will be checking with our current accountants
on the process, but wanted to run this past the Chapter Committee for their
nod.

 

Kate Hartmann

Operations Director

301-275-9403

www.owasp.org <http://www.owasp.org/>  

Skype:  Kate.hartmann1

 


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Dir: 312-869-2779

skype: sarah.baso

 

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