[Finance] Bicycle Valet financial history

[Jeremy Hull]

Thanks Bill, this is an excellent summary and will be very useful as we go
into a contract with a new contractor next year.

I notice that the value of all the types of capital assets decline by 20%
per year except for tents in 2014. I assume that this is because some new
tents were purchased in that year. I would like to review each of the
capital asset categories with Amanda in case there are some that should now
be written off, such as outdated banners with logos for old sponsors on
them. I know there are various options for replacement/repair of the racks
and we should review these options with her as well.

Our insurance policy covers liability for all of our activities, not just
for Bike Valet. We have previously decided that 2/3 of the cost of
insurance should be considered a Bike Valet expense, with the remaining 1/3
a general BW operational expense.

I think we should keep Amanda on the payroll for another month (to the end
of December), considering that we want her to help with the transition to a
new contractor, and with any revisions to the financial statement. She
worked hard this year, as always, the operation has generated a surplus,
and I don't want to short change her.

Jeremy


On Thu, Nov 13, 2014 at 4:33 AM, Bill Newman <bill.newman at plumdee.ca> wrote:

> I have attached a consolidated financial report for the whole five year
> history of Bike Valet.  The current year is projected to March, 2015.  It
> includes depreciation, a $200 estimate for the volunteer windup, and an end
> date for Coordinator staff fees of November 12. It does not include storage
> fees beyond November, nor any further anticipation of income.
>
>     Income in the beginning was mainly grants and gradually moved over to
> fees and donations.  The initial capital investment of 11-12K$ came from
> grants.  This included racks, trailers, signage, which has not been
> replaced or upgraded.
>     Depreciation is posted on March 31 as 20% of the current value of each
> fixed asset.  The Bike Winnipeg  management fee is new as of 2015.  This
> was discussed for previous years but not actually charged.  (This could be
> adjusted without actually affecting previously published financial
> reports--true so.)
>     The BV Working Funds under Current Assets is the Bike Valet bank
> account (with BWin being the banker).  This is money earned by BV and used
> to cover expenses.  (Yes, BV cash reserves are 90% of our whole cash
> assets.)
>     A capital expansion fund can easily be established as we develop a
> capital expansion plan.
>     The Insurance amount is the policy premium with Co-Operators
> Insurance.  I'm not sure if that includes any non Bike Valet coverage.
>
>     This is where all the actual money came from and went to.  It should
> be the basis of future budgeting for Bike Valet.
>     --Bill
>
>     (This report was prepared with LibreOffice and saved in MS Word .doc
> format.  Let me know if it comes out "funnny".)
>
>
>
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