[Finance] Financial statements for 2015 fiscal year

[Kaye Grant]

Thanks Bill.  It would be great to run the whole report by them but that
won't be possible but the financials should be.  I won't have time to work
on this until the weekend. Maybe we can just send your version out and make
it a motion- I support sharing these financials at the AGM on April 30th yes
or no.  Unless someone has a different idea.

Thanks
Kaye 

-----Original Message-----
From: Finance [mailto:finance-bounces at lists.bikewinnipeg.ca] On Behalf Of
Bill Newman
Sent: Tuesday, April 19, 2016 9:23 PM
To: BW Finance
Subject: Re: [Finance] Financial statements for 2015 fiscal year

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.
>

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