Board/Minutes/2023-09/Treasurer's report

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The board of the Foundation always tries to disseminate more useful information. We track expenditures at the occasion of the monthly board meeting against the budget, and to improve transparency, I will share that table for the moment being through 1. It might migrate to the minutes when it is no longer news.

General note about this financial overview: The first column are expenses up to today, i.e. 2023-09-28. All figures are indicative and as our accounting software indicates about our bank accounts. No corrections for expected payments are made.

The second column are the budgeted expenses for the whole year for comparison. For running expenses, the first column therefore should be three quarters of the second column.

The expense overview is presented in the way that the treasurer deems most useful for community inspection.

Mechanisms like depreciation are therefore not represented. Instead there is the line item “OWG reserve”; the combination of the OWG budget plus this reserve (about 210 thousand GBP) is what we expect to spend over multiple years on average to keep the fleet of servers up to date and supplied with energy, network, and other ambient conditions. Again, it is budget and not expenses in the second column.

Likewise, interest on savings and currency exchange effects are not represented because our actual business mostly takes place in EUR while income is mostly in USD. The USD to EUR exchange rate has substantial influence of how much metal we can afford from our income. The GBP to anything exchange rate has a limited influence and is rather a red herring here.

Roland Olbricht

Actual Amount Description Remark
66 367.91 521 000 Donations Planned target of the donation drive
6 769.67 14 500 Individual Members
107 590.22 145 500 Corporate Members Numbers according to the levels announced on plus TomTom platinum.
17 985.69 0 SotM No SotM takes place.
n/a 681 000 Total Expected total income

Expected spending

Actual Amount Description Remark
41 339.43 169 197 OWG budget high option from the OWG proposal
0 40 000 OWG Reserve Flatten out below-average capital expenses of the OWG
181 018.14 275 000 Personnel Our SSRE, Administrative Assistant, and iD development
0 50 000 EWG budget
5 168.64 1 000 LWG budget currently only trademark protection expenses
0 5 000 other WGs budget combined budget of CWG, DWG, MWG, SotM-WG and LCCWG, 1000 ? each
n/a 40 500 Organizational Overhead Insurance, accounting, travel expenses etc., breakdown see below
533.95 0 SotM No SotM takes place.
0 100 000 Reserve General Reserve
n/a 681 000 Total Planned total expenses, rounded to thousand pounds

The Organizational Overhead is broken down as follows

Actual Amount Description Remark
6 575.50 12000 Accountancy
4 194.19 8000 Insurance
1 927.99 3000 Software Subscriptions
554.72 2500 Various Service Fees Legal fees, professional fees, consultancy fees
2 163.33 4000 Bank charges
88.35 2500 Computer sundries and peripherals
137.59 500 Printing, Postage, and Carriage
627.17 8000 Travel expenses