1. WITSA FINANCE COMMITTEE MEETING September 27, 2014 Expo Guadalajara Convention Center, Guadalajara, Mexico Room: Joya II, Business Center I www.witsa.org

2. Call to Order Dr. Amado Espinosa www.witsa.org2

3. Roll Call Presentation of Proxies, Bylaws 8.1.3; Record Members, Participation by Telephone Dr. Jim Poisant www.witsa.org3

4. Committee Members www.witsa.org 4 CityNameOrganizationAttendance 1ArgentinaDr. Silvia BidartCESSI 2Chinese TaipeiYvonne ChiuCISA 3LebanonNizar ZakkaPCA 4MalaysiaLooi Kien LeongPIKOM 5MexicoDr. Amado EspinosaCANIETI 6MexicoSantiago GutierrezCANIETI 7South AfricaRoger LatchmanITA

5. CityNameOrganizationAttendance 1JapanJunko KawauchiJISA 2U.S,ADr. Jim PoisantWITSA 3U.S.AAnders HalvorsenWITSA 4AustraliaTim ConwayWITSA 5MalaysiaJeralyn QuinsayasWITSA 6 7 8 9 10 11 In Attendance: Non Board Members www.witsa.org 5

6. ASSETS Current Assets Cash Accounts343,161.69Cash in operating accounts Accounts Receivable Net of Allowance 86,885.00Outstanding dues and other receivables Prepaid Expenses15,162.08Insurance and Mexico D&B Report Investments - CD's256,188.68Certificate of Deposits Net Fixed Assets4,002.77 TOTAL ASSETS705,400.22 Summary Balance Sheet (1/2) (as of Aug 31, 2014) www.witsa.org6

7. Summary Balance Sheet (2/2) (as of Aug 31, 2014) www.witsa.org7 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable1,205.00 Credit Card Payables839.98 Accrued Expenses28,377.70Expenses incurred such as vacation and pension amounts Deferred Revenue88,042.42Amounts invoiced to customers that have not been earned yet. Total Liabilities118,465.10For example: Mexico IT was invoiced from Oct 1 2013 to Oct 1 2014. The 2014 part was deferred EquityOut corporate advisors are also billed on a fiscal year basis, not an annual basis Unrestricted Net Assets818,635.65 Net Income-231,700.53 Total Equity586,935.12 TOTAL LIABILITIES & EQUITY705,400.22

8. Summary Statement of Income (for the eight months ended Aug 31, 2014) www.witsa.org8 Jan - Aug 2014 Ordinary Income/Expense Income Investment Income2,048.20 Program Income82,990.92Dues, Global Partner Program Other Income54,450.00Corporate Advisory Program, In-Kind Revenue Total Income139,489.12 Expenses Contract Services50,253.89Accounting, Legal and Consulting Operations10,297.73Communications, Website, Payroll Processing Fees Salary and Benefits262,009.40 Travel Expenses40,117.27All Travel Other Expenses8,511.36Bank Fees, Insurance, Membership Dues, Rent, Depreciation, Awards Total Expense371,189.65 Net Income-231,700.53

9. Summary Cash of Flows (1/2) (for the eight months ended Aug 31, 2014) www.witsa.org9 CASH FLOWS FROM OPERATING ACTIVITIES Cash received from members$ 180,100 Cash paid to vendors.(379,161) Interest received. 1,603 Net Cash Provided by (Used In) Operating Activities. (197,458) CASH FLOWS FROM INVESTING ACTIVITIES. Cash used to purchase property and equipment. (2,205) Cash used to purchase investments. (150,959) Net Cash Provided by (Used In) Investing Activities. (153,164) CASH FLOWS FROM FINANCING ACTIVITIES. Net Cash Provided by (Used In) Financing Activities. - NET INCREASE (DECREASE) IN CASH. (350,622) CASH, BEGINNING OF YEAR. 693,784 CASH, August 31, 2014$ 343,162

10. Summary Cash of Flows (2/2) (for the eight months ended Aug 31, 2014) www.witsa.org10 RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES: Net income$ (231,701) Adjustments to reconcile net income to net cash provided by (used in) operating activities Depreciation and amortization. - (Increase) decrease in accounts receivable. (3,342) (Increase) decrease in prepaid expenses. (10,526) (Increase) decrease in accrued interest. (445) Increase (decrease) in accounts payable & accrued expenses. (945) Increase (decrease) in deferred revenue. 49,501. 34,243 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES$ (197,458)

11. Progress on WCIT 2012 Payment www.witsa.org11

12. Expanding Existing and Developing New Sources of Revenue Report www.witsa.org12

13. Annual vs Biennial World Congresses www.witsa.org13

14. Thank You www.witsa.org14