Financial Report to the 2018 CODATA General Assembly

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Presentation transcript:

Financial Report to the 2018 CODATA General Assembly John Broome CODATA Treasurer Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

CODATA 2018 General Assembly 2017 Audit Audit prepared by Chartered Accountants Sadec-Akelys (Paris) in Euros using accrual method. No issues were identified by the auditor. Dues to time constraints and complexity, a summary of the 2017 audit and 2018 budget is presented here. Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

CODATA 2018 General Assembly 2017 Balance Sheet Euros Income 308 685 Expenditures 355 514 Net : -46 829 Assets (Dec 31, 2017) 297 003 (From final 2017 audit) Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

CODATA 2018 General Assembly 2017 Assets Dec 31, 2016 Dec. 31, 2017 Assets (Euros) Cash 157 481 135 454 Short term investment 79 865 73 345 Dues receivable 57 016 65 385 Interest, misc. 47 992 20 819 Total Assets: 342 354 297 003 Liabilities: Accounts payable 41 031 42 509 Net Assets: 301 323 254 494 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

CODATA 2018 General Assembly Reserve Fund A reserve of US$100,000 was established 2013 in the form of a term deposit in a Canadian bank. The 2-year term matured April 12, 2018 with a value of C$115 818 ( ~77K Euro) To address the risk of possible 2018 cash flow issues, in April 2018 the EC withdrew half of the reserve and reinvested the remaining C$57000 . Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

Nov., 2018; Gabarone v.4

CODATA 2018 General Assembly Dues 2016-2018 2016 Dues invoiced: ………. 220 686 Euros Dues received: ………. 219 460 Euros 2017 Dues invoiced: ………. . 210 327 Euros Dues received to date:.. 198 801 Euros 2018 Dues invoiced: ........... . 223 657 Euros Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

2017 Member Contributions Total: 210 327 2017 2016 2015 7 314 10 478 Australia 7 314 7 300 7 180 Canada 10 478 10 457 10 292 China (Beijing) 36 201 38 318 24 552 China (Taipei) 6 732 6 719 6 613 Finland 2 096 2 091 2 058 India 8 397 8 892 7 418 Israel 2 414 2 555 2 396 Japan 31 373 31 311 30 818 Korea 7 754 8 207 6 762 Kenya 1 256 1 235 - Mongolia 1 038 1 036 Netherland 6 287 6 274 6 175 Russia 10 441 10 442 10 196 South Africa 2 683 3 276 2 640 Ukraine 1 048 1 046 1 029 United Kingdom 20 956 27 776 20 586 United States 53 859 53 751 52 905 Total: 210 327 220 686 195 246

CODATA 2018 General Assembly Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

CODATA 2018 General Assembly Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

2017 Expenditure Distribution Task Groups Strategic Activities Administration & Core Functions Governance & Meetings Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly Admin.

Nov., 2018; Gabarone v.4

CODATA 2018 General Assembly Summary 2017 No issues were identified in the 2017 audit. The deficit was ~47K Euros - close to the EC budget. Assets remained adequate to cover 1 year of operations. Increased spending areas: Strategic activities, administration, meeting travel. Task Groups spent ~100% of allocated funds in 2017 2018 The 2018 budget was reduced by 43K Euros and balanced. Decreased spending on governance and meetings. New sources of income are required to increase activities. Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly

Thank you for your attention!

CODATA 2018 General Assembly 2018 Budget Distribution Task Groups Strategic Activities Administration & Core Functions Governance & Meetings Nov., 2018; Gabarone v.3 CODATA 2018 General Assembly Admin.