1. December 5, 2015 Maple Room, Leela Hotel, New Delhi, India
Treasurer’s Report
December 5, 2015
Maple Room, Leela Hotel, New Delhi, India

2. Treasurer’s Report
Eng. Tarek Monem Taha

3. Comparative Income Statement (1/2) For the Ten Months Ended October 31, 2015 and 2014
Jan - Oct 15 (A)
Jan - Oct 14 (B)
Variation
(A-B)
Ordinary Income/Expense
Income
Total · Investments
1,667.90
2,612.57
(944.67)
46436 · Corporate Advisory Committee
51,250.00
60,000.00
(8,750.00)
Total · Other Types of Income
51,350.00
60,100.00
47230 · Membership Dues
61,250.00
63,075.00
(1,825.00)
47240 · Global Partner Program
41,666.64
37,499.94
4,166.70
Total Income
155,934.54
170,287.51
(14,352.00)

4. Comparative Income Statement (2/2) For the Ten Months Ended October 31, 2015 and 2014
Jan - Oct 15
(A)
Jan - Oct 14
(B)
Variations
(A-B)
Expense
Total · Bank Charges
2,205.59
2,616.00
(410.41)
62110 · Accounting Fees
10,615.00
19,040.00
(8,425.00)
62140 · Legal Fees
3,135.00
9,775.00
(6,640.00)
62160 · Consulting
34,738.30
44,015.55
(9,277.25)
Total · Contract Services
48,488.30
72,830.55
(24,342.25)
Total · Facilities and Equipment
1,470.00
7,000.00
(5,530.00)
Total · Operations
11,610.05
16,365.77
(4,755.72)
Total · Other Types of Expenses
3,855.98
1,648.64
2,207.34
Total · Salaries
279,234.73
275,047.30
4,187.43
Total · Payroll Expenses
325,957.58
328,283.23
(2,325.65)
Total · Travel and Meetings
39,706.18
58,535.01
(18,828.83)
69000 · Contingency
4,000.00
425.00
3,575.00
Total Expense
437,293.68
487,704.20
(50,410.52)
Net Ordinary Income
-281,359.14
-317,416.69
36,057.55
Net Income

5. Summary Balance Sheet (1/2) As of October 31, 2015
ASSETS
Current Assets
Checking/Savings
10000 · Wells Fargo Busi Cash Mgr 9184
92,562.28
10021 · Wells Fargo Busi Perf Sav 5199
-4.70
10026 · Capital One Bank MMA
94,447.39
Total Checking/Savings
187,004.97
Accounts Receivable
11000 · Accounts Receivable
360,510.00
Total Accounts Receivable
Other Current Assets
11050 · Allowance for Doubtful Accounts
-285,000.00
13000 · Prepaid Expenses
13005 · Prepaid Insurance
4,643.06
13010 · Travel Advance & AirfareCredits
4,732.34
13020 · Other Prepaid
2,829.11
Total · Prepaid Expenses
12,204.51
13500 · Investments - CD's
13503 · Middleburg Bank CD - 36 Months
106,841.63
13505 · Middleburg Bank CD - 12 Months
151,123.38
13515 · Interest Receivable
60.25
Total · Investments - CD's
258,025.26
Total Other Current Assets
-14,770.23
Total Current Assets
532,744.74
Fixed Assets
15000 · Fixed Assets
15005 · Computers & Other Equipment
4,516.48
15507 · Accumulated Depreciation
Total · Fixed Assets
4,002.77
Total Fixed Assets
TOTAL ASSETS
536,747.51

6. Summary Balance Sheet (2/2) As of October 31, 2015
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
20000 · Accounts Payable
1,140.00
Total Accounts Payable
Credit Cards
21000 · American Express
217.08
21500 · Chase Visa
379.53
Total Credit Cards
596.61
Other Current Liabilities
24200 · Accrued Expense
14,669.42
24400 · Accrued Payroll
10,294.37
24500 · Accrued Vacation
13,481.30
25800 · Unearned or Deferred Revenue
25810 · Unearned Dues
11,500.00
25830 · Corporate Advisory
30,000.00
25845 · Global Partner
7,291.77
Total · Unearned or Deferred Revenue
48,791.77
Total Other Current Liabilities
87,236.86
Total Current Liabilities
88,973.47
Total Liabilities
Equity
32000 · Unrestricted Net Assets
729,133.18
Net Income
-281,359.14
Total Equity
447,774.04
TOTAL LIABILITIES & EQUITY
536,747.51
Taiwan, Armenia (WCIT Payments)
550,000.00
Total
1,086,747.51

7. Accounts Receivable Listing As of October 31, 2015
Dues
Dues
Dues
Special Events
TOTAL
Afghanistan
275.00
0.00
550.00
Belarus
1,275.00
Brazil – Assespro
5,025.00
Canada
285,035.00
290,060.00
Chile
525.00
ITI
10,025.00
Lebanon
5,550.00
Lithuania
South Africa
Spain
Thailand
Other members
24,025.00
3,150.00
27,450.00
Total
45,275.00
3,425.00
5,300.00
344,060.00
Total minus Canada
54,000.00

8. Status on WCIT Licensing Fees
2016 Brasil
Fee 750K (Paid in full)
2017 Taiwan
2018 India
Fee 750K Government (Hyderabad) announced full funding-NASSCOM (India Tax Resolved)
2019 Armenia
Fee 750K, Paid 100K
2020 Malaysia
Fee 750K PIKOM  

9. 2016 Budget BUDGET CASH IN HAND EOY
Revenue difference is explained by Taiwan’s large 2015 $450k payment for WCIT 2017
Higher expenses in 2016 relate to consulting fees for PP, a 3.6% salary increase to Anders and higher travel expenses related to annual WCITs activity
WITSA will have close to one million USD cash in hand BYE16
Cash in Hand projections beyond 2016, is still prety much in line with projections dated February 2015
BUDGET
2015
2016
Difference
Revenue
$848,000
$566,745
$(281,255)
Expenses
$576,922
$597,324
$20,402
Net Income
$271,077
$(31,579)
$(302,656)
Cash in Hand EOY
$935,030
$920,000
$(15,030)
CASH IN HAND EOY
WITSA Cash Flow Analysis
Dec 2014
2015
2016
2017
2018
2019
2020
Cash on Hand EOY
$776,519
$1,021,519
$991,519
$1,209,519
$1,399,519
$1,339,519
$1,254,519
Note: For full budget figures refer to Attachment D

10. Comparison of 2015 & 2016 Budgets (1/3)
Variance
Ordinary Income/Expense
Income
45000 · Investments
45030 · Interest Income
3,000.00
5,745.00
2,745.00
Total · Investments
46400 · Other Types of Income
46430 · Miscellaneous Revenue
46436 · Corporate Advisory Committee
75,000.00
60,000.00
-15,000.00
Total · Other Types of Income
47200 · Program Income
47230 · Membership Dues
70,000.00
50,000.00
-20,000.00
47240 · Global Partner Program
0.00
Total · Program Income
120,000.00
100,000.00
49000 · Special Events Income
49012 · WCIT Licensing Fee 2017
450,000.00
-450,000.00
49013 · WCIT Licensing Fee 2018
250,000.00
150,000.00
49014 · WCIT Licensing Fee 2019
Total · Special Events Income
650,000.00
400,000.00
-250,000.00
Total Income
848,000.00
565,745.00
-282,255.00
Gross Profit

11. Comparison of 2015 & 2016 Budgets (2/3)
Variance
Expense
60925 · Bank Charges
60930 · Wire Fees
60925 · Bank Charges - Other
3,600.00
0.00
Total · Bank Charges
62100 · Contract Services
62110 · Accounting Fees
32,500.00
Administrative Support
45,000.00
62140 · Legal Fees
8,000.00
5,000.00
-3,000.00
62160 · Consulting
71,331.16
40,000.00
-31,331.16
Total · Contract Services
111,831.16
122,500.00
10,668.84
62800 · Facilities and Equipment
62890 · Rent, Parking, Utilities
Total · Facilities and Equipment
65000 · Operations
65010 · Books,Subscriptions, Ref
127.00
65020 · Postage, Mailing Service
100.00
125.00
25.00
65030 · Printing and Copying
65040 · Supplies
600.00
1,200.00
65050 · Telecommunications
8,100.00
7,000.00
-1,100.00
65051 · Data Backup
192.00
350.00
158.00
65052 · Website Upgrade & Database
1,000.00
65055 · ADP Payroll Fees
4,200.00
4,400.00
200.00
Total · Operations
14,419.00
14,302.00

12. Comparison of 2015 & 2016 Budgets (3/3)
Variance
Expense
65100 · Other Types of Expenses
65120 · Insurance - Chubb, Liab.D and O
4,080.00
3,600.00
65150 · Memberships and Dues
2,500.00
1,000.00
-1,500.00
65155 · Meals & Entertainment
650.00
660.00
10.00
Total · Other Types of Expenses
7,230.00
5,260.00
-1,970.00
66000 · Payroll Expenses
66005 · Salaries
Salary Anders
94,011.06
97,428.72
3,417.66
Salary Poisant
240,685.89
240,686.37
0.48
Total · Salaries
334,696.95
338,115.09
3,418.14
66007 · Payroll Taxes
18,057.29
18,708.74
651.45
66008 · Workmans Compensation Insurance
600.00
720.00
120.00
66015 · Life & Disability Insurance
7,318.46
6,996.96
66020 · Health & Dental Insurance
12,935.00
15,216.00
2,281.00
66025 · 401K WITSA Contribution
16,734.85
16,905.75
170.90
Total · Payroll Expenses
390,342.55
396,662.54
6,319.99
68300 · Travel and Meetings
68310 · Conference, Convention, Meeting
2,000.00
5,000.00
3,000.00
68320 · Travel-Poisant
26,000.00
27,000.00
68322 · Travel-Anders
5,500.00
12,000.00
6,500.00
68323 · Travel - Other
11,000.00
6,000.00
-5,000.00
Total · Travel and Meetings
44,500.00
50,000.00
69000 · Contingency
0.00
Total Expense
576,922.71
597,324.54
20,401.83
Net Ordinary Income
271,077.29
-31,579.54
-302,656.83
Net Income

13. Thank You