Treasurer

From: Chris Riemer [mailto:jcriemer@gmail.com]

Sent: Monday, October 02, 2017 6:55 PM

To: 'Board FP' <fullboard@folkproject.org>

Subject: Bookkeepers Report

Greetings, folks -

This is the first report this year that has insurance allocations folded in. It takes a fair amount of time for me to do that, so the first question I'd like to ask is does anybody care? Back in the day, we understood that we were going to pay about $4,500 a year in insurance (or half that before Workers' Comp), and we just made the mental adjustment. We didn't care about how it would be spread month to month. Think about that, please. For me and for future bookkeepers and treasurers.

The first page of the PDF shows you the Net Operating Income by department through September 30. That's the income minus the expenses for each venue. (Remember that the Getaway isn't really that flush, since it shows nearly all of the income for fall but practically none of the offsetting expenses.)

The second page adds the Investment income, and the insurance allocations. The idea here is that Barb Moo has estimated our likely annual insurance cost by department for 2017 based on our insurance history, and I'm allocating one twelfth of that number for each month for each venue. (Note that when we went through this exercise two or three years ago, we also talked about charging the General & Administrative Costs back to the venues. We decided that wasn't necessary (hence the 0% allocation), but I kept it in the sheet in case we want to revisit that in the future.)

This PDF is produced by exporting the QuickBooks data to Excel, and then pasting it into another sheet to do the insurance allocation calculations on the second page. Since I am imagining a time when someone less anal than me will take on the job, ask yourselves that question. Will this level of detail have any effect on the Board's decision-making? (Based on my 30 or so years of service, I would say not a jot or a tittle.) If your answer is also no, we should go back to using the basic QuickBooks report, which will save the Treasurer/Bookkeeper an hour of time each month. We can do the rest in our heads.

(The even more anal Mr. Agranoff will likely continue to estimate insurance in his committee report. Note that his figures will be more accurate than Barb's, because of the way he's calculating them. The question is, if Mike says his insurance cost will be $2,286.20, and Barb's estimate is $2,400, do we care? Enquiring minds want to know!)

I will again put in a plug for any who would like a QuickBooks login, so you can see the rumors behind the news. I can also do some training on request.

Regards,

Chris

Chris Riemer

Keeper of the Books

The Folk Project

www.folkproject.org