WITSA Finance Committee 13:45-14:14pm October 1, 2016

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Presentation transcript:

WITSA Finance Committee 13:45-14:14pm October 1, 2016 Royal Tulip Brasilia Alvadora, Brasilia, Brazil Room: Room G - Convention Centre www.witsa.org

Chairman’s Remarks Introduction Dr. Jim Poisant, Acting Chairman www.witsa.org

Roll Call Dr. Jim Poisant www.witsa.org

Cash Flow Outlook Santiago Gutierrez www.witsa.org

Treasurer’s Report Mr. Tarek Monem Taha Financial Statements -Cash Flow Projections -Balance Sheet -Budget vs Actual (YTD) -Comparative Income Statement -Status on WCIT (750K Hosting Fee) Members Not in Good Standing www.witsa.org

Cash Flow Projections Santiago to provide www.witsa.org

Summary Balance Sheet As of August 31, 2016 ASSETS and LIABILITIES Current Assets Cash Accounts 530,133.69 Accounts Receivables Net of Allowance 103,075.00 Prepaid Expenses 14,683.43 Investments – CD’s 259,307.32 Net Fixed Assets 4,780.40 Total Assets 907,039.84 LIABILITIES & EQUITY Current Liabilities 133,865.53 Accounts Payable 5,194.04 Credit Card Payables -60.43 Accrued Expenses 17,132.81 Deferred Revenue 91,316.66 TOTAL LIABILITIES EQUITY Unrestricted Net Assets 886,611.88 Net Income -113,437.57 Total Equity 773,174.31 TOTAL LIABILITIES & EQUITY

WITSA Budget Versus Actual Income Statement For the Eight Months Ended August 31, 2016 Jan - Aug 16 Budget $ Over Budget Total Expense 387,685.93 395,502.08 -7,816.15 Net Ordinary Income -113,437.57 -135,005.44 21,567.87 Net Income www.witsa.org

Comparative Income Statement For Eight Months Ended August 31, 2016 January -August 2016 - A January - August 2015 - B Variation (A-B) Expense Total 60925 · Bank Charges 1,668.05 1,188.40 479.65 62110 · Accounting Fees 9,035.00 9,045.00 -10.00 62140 · Legal Fees 12,056.97 3,015.00 9,041.97 62160 · Consulting 1,695.83 31,346.64 -29,650.81 Total 62100 · Contract Services 51,489.44 43,406.64 8,082.80 Total 62800 · Facilities and Equipment 519.57 1,470.00 -950.43 Total 65000 · Operations 14,044.87 8,487.88 5,556.99 Total 65100 · Other Types of Expenses 5,577.96 2,990.88 2,587.08 Total 66005 · Salaries 225,787.27 222,615.70 3,171.57 Total 66000 · Payroll Expenses 266,666.34 261,624.82 5,041.52 Total 68300 · Travel and Meetings 47,023.25 32,313.07 14,710.18 Total Expense 387,685.93 351,481.69 36,204.24 Net Ordinary Income -113,437.57 -226,188.23 112,750.66 Net Income

Status on WCIT (750K Hosting Fee), Dr. Jim Poisant 2017 Taiwan Paid in full 2018 India Contract signed 1st payment of 250K pending 2019 Armenia Paid 150K (on schedule) 2020 Malaysia Contract pending No payment expected in 2016 2021 Bangladesh 1st payment of 50K received

For Member Dues Received 2016 THANK YOU!

Members Not in Good Standing (per region) AFRICA Dues Owed: 2015 Dues Owed: 2016 1 Senegal 250 2 Kenya ASIA PACIFIC Mongolia Myanmar 4 Sri Lanka 500

Members Not in Good Standing (per region) MENA Dues Owed: 2015 Dues Owed: 2016 2 Algeria 500 3 Palestine 4 Lebanon Not Billed Non EU 1 Albania 250 Russia 1,250 Ukraine Republic of Kosovo

Members Not in Good Standing (per region) European Union Region Dues Owed: 2015 Dues Owed: 2016 1 Cyprus 500 2 Republic of Kosovo 250 3 Portugal 4 Republic of Macedonia LATIN AMERICA Chile Columbia Equador Panama 5 Venezuela NORTH AMERICA 1 USA 10,000

Draft 2017 Budget Presentation Dr. Jim Poisant Discussion www.witsa.org

Any other business & adjournment www.witsa.org