[Finance] Financial statements for 2015 fiscal year

[Bill Newman]

Good points Kaye,
     I'm not sure where to stick the word "comparative".  The title does 
indicate "current and previous" which is pretty much the idea. If there 
is a better way to say it I'm fine with that.
     The notes can be changed.  I'd put Note 1, the audit disclaimer, as 
the last note.  (That's where it belongs).  The discussion on the 
year-end change should definitely be elaborated, perhaps as Note 1 but 
maybe better in the introduction.
     Seeing three years together like that may give rise to some 
questions to which I don't have ready answers, but that's okay. It's 
just true that what we do from year to year fluctuates a lot.

     This note is going to the old Finance committee (you, me, Mark, and 
Jeremy) which I take to be the people who like to talk about this 
stuff.  Running it by the board is a good idea.  Or were you going to 
run the whole annual report by them?

     Whatever changes come up I'll put back into the website copy.
     --Bill

On 2016-04-19 09:13, Kaye Grant wrote:
> Hi Bill,
>
> One thing I noticed is the headings on the statements.  Typically it's called comparative(when we compare the current year end to previous years. And we need a more obvious note about the year-end date change and caution about the comparisons given that the new year end covered a slightly different period.  Maybe we can put this all into the introduction.   I can help with that.  Rachael is preparing the annual report so I'm hoping she can insert this in a good looking visual way.
>
> Thanks for your work on these.  As per my note to the executive committee - I think we should pass this by the board for approval before including in the report.
>
> Kaye
>
> -----Original Message-----
> From: Finance [mailto:finance-bounces at lists.bikewinnipeg.ca] On Behalf Of Bill Newman
> Sent: Tuesday, April 19, 2016 4:47 AM
> To: BW Finance
> Subject: [Finance] Financial statements for 2015 fiscal year
>
> Sorry this has taken so long to put together.
>       I've attached a copy of the annual financial report as developed by the Finance Committee in the Fall of 2014 and used for the last two years.  I have left all three years in so we get a good idea of how things change from year to year.  It's good to know where we have progressed and where we have done better in the past.
>       This is in ".doc" format so it can edited.  I think this is the report that should go into the annual report but it needs an
> introductory paragraph which I haven't done.   I don't think our
> budgeting efforts (and shortcomings) are really of general interest (or are they?).
>       This report, the full variance report, and other reports are on the website in pdf form for people with an appetite for such things.
>       I have also reorganized and added some reports for the 2014/15 fiscal year on the website.
>
>       Taken all together this is probably more reporting than we need to have (and more effort).  One aspect of the whole set of reports is the variation in the number and names of the individual line items.  There are too many lines in the reports that come out of the accounting system.  Grouping them down to a useful set of summary lines has been an opportunity for more creativity than discussion in the past.  We should spend more time on this.
>       In a broader context the grouping and organizing of our financial data should also be reflected in the organization and grouping of our website pages.  But that is a topic for the Website Committee which we haven't even formed yet.
>