Re: Current state of Foundation finances

[Stormy Peters <stormy peters gmail com>]

Is the budget and the current state of financials (account balances, invoices due, money expected) public? If not, can we get at least a summary?

Are we paying our employee during this freeze? Is it expected that we would be able to employ an executive director if we want to?

Thanks to the board members for working through this and being open.

Stormy

On Sun, Apr 13, 2014 at 9:31 AM, Ekaterina Gerasimova <kittykat3756 gmail com> wrote:

On 13 April 2014 14:40, Allan Day <allanpday gmail com> wrote:
> David King <amigadave amigadave com> wrote:
> ...
>>>> Don't we have reserves though? We should have 6 months of operating
>>>> expenses as reserves.
>>>
>>>
>>> I should leave maybe this to Kat and other board members but I'm
>>> recently enough gone that I can answer - the Foundation has adequate
>>> reserves for GNOME's ordinary operations but not for OPW, and the
>>> program has ramped up really quickly while the Foundation is still very
>>> small.
>>
>>
>> That is not correct according to:
>>
>> https://wiki.gnome.org/FoundationBoard/CurrentBudgetFAQ#What_is_the_problem.3F
>> That section states "The Foundation does not have any cash reserves right
>> now".
>
> Blunt statements like this aren't very helpful, and they send a really
> bad message. It's easy to read this line and think the worst.
>
> Clearly we do have protected reserves - which we are preserving by the
> freeze on sponsorship repayments. The extra reserves that we usually
> have are expected to recover, and there is a plan in place to ensure
> this happens. Can we try and clarify this on the wiki please?

We do not have protected reserves. The freeze on sponsorship
repayments is in place to make sure that we can reacquire our
reserves.

The intention of the FAQ is to be honest with our Foundation members
because the board believe in being open not only in our code but also
when we keep in touch with the membership.

As a large portion of our membership are not native English speakers,
it is important to keep to keep our communication as simple, concise
and precise as possible. The FAQ already clearly states what the board
is planning to do to fix the problem and when we expect it to happen.

> Allan
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