[Owasp-board] Financial reports 2015?

johanna curiel curiel johanna.curiel at owasp.org
Fri Sep 9 09:42:31 UTC 2016

Thank you for the update Andrew.

I quite understand the actual P&L, however, having a complete picture with
a Balance Sheet  provide us a better way to do accurate financial analysis.
You can't do that with the P&L alone. Sure, the P&L focuses and gives us a
nice overview of our income sources and costs but, thats just portion of
the entire picture.

As you know the balance sheet provide us a better overview the financial
position and help us to get a better overview on this aspect. As being a
kind of snapshot, the Balance sheet can allow us to create better
predictive ratio's. If we had a balance sheet that matches the P&L of same
period, it will be great.

Especially for creating the 2017 budget.

Given the actual situation, do you have an approximate date of when will
the financial statements 2015 will be ready? Or do we have Balance Sheets
that matches the P&L of the same period?



On Fri, Sep 9, 2016 at 2:04 AM, Andrew van der Stock <vanderaj at owasp.org>

> Johanna,
> I am responsible for the finances, but we can only move as fast as the
> things occur.
> Production timeline is delayed, no doubt, but there is a reason for it:
>    - We have to wait for the 2015 books to close (generally end of March)
>    - We have to reconcile and ensure all the entries are correct. This
>    happened by the end of May
>    - We have to let the 990 be prepared. This happened in August
>    - We have to wait for the CPA to go over the 990. This happened late
>    August
>    - The 990 has to be reviewed and signed by Matt and myself
>    - The annual report has to be prepared with the figures from the 990.
>    Kate is very busy with AppSec USA prep just when we need this report to be
>    done.
> So there are almost no delays here that could be eliminated.
> The last year financial report is backwards looking. Our current P&L is
> more up to date than the close out of last year's finances, so if you look
> at the financial package provided in each Board meeting, this is what I
> see, and where I think you'll get best value in being informed about our
> current financial health.
> The main reason to be truly interested in a timely production of last
> year's results is if we identify a financial issue, such as a
> reconciliation failure, in the preparation of the 990. This has never
> happened, but it's one of those things that we make sure we get right.
> Alison reconciles regularly and generally things are rectified in a timely
> fashion.
> thanks,
> Andrew
> On Fri, Sep 9, 2016 at 4:09 AM, johanna curiel curiel <
> johanna.curiel at owasp.org> wrote:
>> Andrew,
>> As in charge of the finances, when will the financial reports of 2015 be
>> ready?
>> I mean, it's September 2016, approaching soon 2017 and no financial
>> reports has been provided so far from last year.
>> What is the planning right now for this?
>> cheers

Johanna Curiel
OWASP Volunteer
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