[BW_Finance] Q3 Financials & Finance Committee meeting Tues Oct 24, 2023 730PM

[Mark Cohoe]

Thanks Luke,

Pm point 1, the membership revenue will also be up a bit because donations
added into a membership payment are reported as member dues in CiviCRM.
That's just a bit of a quirk in the system. Donations were also really
driven by the Giving Tuesday campaign over the last two years. Like Luke
says, you kind of need to view them together to do a year over year
comp[arison. We are definitely trending up though.

For point 3, if it's doable, we should allocate the MS Canada cheque for
$500 for the bike valet rack rentals into the bike valet revenue, and the
$250 from Green Action centre under Outreach Revenue. There will be an
expense of $250 for outreach as well, as we paid that much for a
sponsorship to table at the U of M orientations this fall. There should be
some money that came in May or June for a presentation I did at Linden
Meadows school as well that should go into the outreach category (sorry I
hadn't got that info to you Luke).

I was a bit slow on some of the bike valet invoicing, so those numbers will
come up in the final quarter, which will give us a bit of an increase from
last year. There is also some bike valet money coming in from The WRENCH
that we didn't invoice for (I need to follow up on that). I think the gains
will be both for gross and net revenues. The grant situation definitely
complicates the bike valet numbers this year (and will complicate next year
as well). But it complicates things by earning us income, so that is a good
thing.

Is the cost of goods sold essentially bicycle valet expenses? If so, I
wouldn't mind seeing the bike valet expenses broken out if that's at all
possible. The switch to a paid bike parking coordinator position
complicates that, so no worries if it's too much of a hassle.

Everything else looks good. I like the way that the grants are reported.

Mark



On Tue, Oct 24, 2023 at 10:52 AM Luke Lorentz <llorentz at gmail.com> wrote:

> Hi Corey,
>
> Answers to your questions:
> 1- Last year there was not much consistency between differentiating
> Donations vs Memberships. I made a substantial effort to ensure each
> category is properly coded in the GL this year. Having CIVICRM helps a lot.
> Comparing individually year over year is kind of futile now, hence why I
> group them for comparison.
> 2 - Motherload event - we almost broke even here - look at the
> fundraising expense for $1800 costs of the event.
> 3 - Bike Valet rack rentals $550 to MS Canada and $250 from the Green
> Action Centre as an honorarium for participating in the Mobility Fari for
> Older Adults.
>
> Thank you for your questions :)
>
> Luke
>
> On Tue, 24 Oct 2023 at 09:12, Corey Dyck <coreymdyck at gmail.com> wrote:
>
>> Hi Luke,
>>
>> I can't make tonight's Finance Committee meeting but have a couple
>> questions from my review of the FS:
>> 1) There's quite a swing in membership revenue vs. donation revenue year
>> over year - is that because we're appropriately tracking what actual is the
>> $20 membership fees vs. donations? (if so - awesome!)
>> 2) What's the source of the $1800 in Fundraising revenue YTD?
>> 3) What's the source of the $750 in other income earning YTD?
>>
>> Thank you for the great level of detail - very helpful.
>>
>> Thanks,
>> Corey
>>
>> On Tue, Oct 24, 2023 at 8:41 AM Luke Lorentz <llorentz at gmail.com> wrote:
>>
>>> Finance meeting is tonight at 730pm if anyone wishes to join. Mark is
>>> off on vacation so I might be meeting with myself. :)
>>>
>>> Zoom
>>> <https://us02web.zoom.us/j/81188389156?pwd=elhiVCs0QmlCcUhOeElRbk9ZS0NIZz09>
>>>
>>> Agenda
>>> <https://docs.google.com/document/d/16RYE86S6_9vPo5cdsHTfBYmfiTaf2SVs/edit?usp=drive_link&ouid=103022762279323445700&rtpof=true&sd=true>
>>>
>>> Thanks,
>>>
>>> Luke
>>>
>>> On Tue, 17 Oct 2023 at 13:25, Luke Lorentz <llorentz at gmail.com> wrote:
>>>
>>>> Good day,
>>>>
>>>> Attached are the Q3 financials for your viewing pleasure. Plus the 2023
>>>> Capital Asset Schedule.
>>>> <https://docs.google.com/spreadsheets/d/1e7x1HMTx0v-QJCZI8Ex98U5B_DWmtYoF/edit?usp=drive_link&ouid=103022762279323445700&rtpof=true&sd=true>
>>>>
>>>> The next Finance Committee meeting is Tuesday Oct 24, 2023 at 730pm.
>>>> Zoom and meeting notes will be sent out next week.
>>>>
>>>> I acknowledge that Mark is on vacation and cannot make the meeting,
>>>> which is ok, he can send in his questions prior to the meeting. If you are
>>>> like Mark and can't make the meeting but have some questions please send
>>>> them directly to me and I will bring them up at the meeting.
>>>>
>>>> Also to be discussed is the preliminary 2024 budget (draft has been
>>>> sent to Mark, exec and compliance committees).
>>>>
>>>> All will be presented at the November board meeting.
>>>>
>>>> Cheers,
>>>>
>>>> Luke
>>>> 204 230 3272
>>>>
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>>>
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-- 
Mark Cohoe
Executive Director
Bike Winnipeg
t: 204-894-6540
e: mark at bikewinnipeg.ca
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