Current state of Foundation finances

Dear Foundation members,

Due to a shortfall in the budget, the Foundation board voted on
2014-04-08 to freeze all expenditure which is not essential to the
running of the Foundation. This freeze affects sponsorship expenses
which are unpaid at this time, but it does not affect the funds which
we hold for other organisations.

By keeping our expenditures to a minimum while we regain some delayed
revenue, we aim to have things back to normal within a few months. All
Foundation members who expect to receive reimbursements within the
next three months have already been informed of the issue and most
have responded positively. The board will prioritise these pending
reimbursements over other expenses.

The issue has been caused by a number of factors. These include
increased administrative overheads in the last few years due to the
increased turnover which has been caused by to the Outreach Program
for Women (OPW), and the associated payments going out while the
associated income has been slow to come in.

The board expects that you may have some questions or would like to
know more details about the problem, please read and contact
the board at board-list gnome org if you have any further questions.

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