User:Econterms/Treasurer duties and updates

I'm the treasurer of this chapter starting as of the February 2013 chapter board meeting and I'm keeping some notes here on how to do that.

• Each month I'm to send a report to the board on the chapter's cash position, and a report from the Fundraising committee, and a report from our Grants-giving committee. The summary becomes public after Board approval, which is routine each month.
• As chair of grant cmte I shall give feedback on grant applications to the president, then for approved grants I'm to work out with the applicant how and when the money is transferred (see http://wikimediadc.org/wiki/Grants_policy, Articles IV and V).
• Our cash position is stable and improving. We can host routine events and we have an important grant application in to the Wikimedia Foundation; with that we can hold a big event too. Members are joining at a good clip, and we need more.
• Accounting standards: We're to follow GAAP.
• Note of interest: It is conceivable that Wiki DC could get a federal contract ; e.g. for a Wikimedian in residence or a NARA project. These are longshots.

Revenue issues

• Current grants from WMF: https://meta.wikimedia.org/wiki/Grants:WM_US-DC (all end 30 Sept 2013)
• possible sources of revenue: WMF/GAC grant for outreach ; WMF/GAC grant for administration ; WMF/GAC grant for Wikisource meeting ; we need other funders

Finance tech issues

• Our treasury numbers were in GNUcash through Sept 30 2013, and since then are on QuickBooks online.
• Wikimedia Australia keeps their financial numbers online at xero.com. Online has the advantage I guess that several of them can access the info, at least with read-only access. Cost maybe $360/year -- note they have much more revenue than WM DC does. For more, talk to treasurer John Vandenburg or previous treasurer now president Charles Franklin. Thanks for Charles Gregory, with whom I spoke at Wikimania 2013.

News

• We've arranged with WMF to extend the period of our Outreach grant from them to end of Dec 2013 so it covers period of Wiki-Loves-Monuments. It had only covered up to Sept 2013.
• plan for filing for FY2014 grant? possible expenses: SSL, business cards, handouts and goodies from WMF.
• I met with several of the grant-givers and WMF staff for the first time at Wikimania and at the Foundation HQ in SF, which helps build relations. They emphatically want to support us and have money to do it.
• reclassified bank account so we no longer owe a monthly fee for the small account. also have permission from WMF grants coordinator to move money between accounts if needed for this purpose in the future.
• anticipating our internal Audit committee review in the fall of the 2012-2013 fiscal year. the committee is designated.
• I anticipate applying depreciation to some of our assets at the end of the fiscal year.
• No other news from Audit or Fundraising.
• Our chapter's articles of incorporation have an updated statement of specific purposes as of Sept 2013, rephrased to match IRS requirements for tax-exempt charities:
• Dec 2013: new [Fiscal control policy]], mainly describing how treasurer should.

"The Corporation is organized exclusively for certain charitable, educational, and scientific purposes, said purposes being the advancement of general knowledge and the collection, development, and dissemination of educational content under a free license or in the public domain, and including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code."

Wikimedia DC physical property

• We have had computer hardware donated to us and bought some too -- e.g. scanners, hard drives, and WiFi/mobile-hotspot equipment. These have money value which I track and apply straight-line depreciation at 20% per year. I know where most of it is or can find a board member who does. Contact me if needed.
• Wikimedia DC has posterboards (below) of our lovely photo winners from Wiki Loves Monuments contest in 2012. These are on loan to members -- me, for the moment. Contact me if there is an interest in displaying them at an event. The cardboard at the corners protects them when they are moved around, and can be removed and stored separately. Each is about 18" high by 30" across. They are slightly different sizes.