Treasurer

From: jcriemer@gmail.com <jcriemer@gmail.com>

Sent: Monday, December 2, 2019 4:19 PM

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

Cc: 'Peg' <timpeg@optonline.net>

Subject: Treasurer's Report

Greetings, projectiles –

I thought I’d do something a little different for this, my final monthly report. I generally talk about the P&L side, which shows how we’re doing month to month. I think that’s where the focus should be. But there’s another way to look at things: the Balance Sheet.

Instead of how we’re doing, the Balance Sheet shows where we stand at a point in time. The attached is a 12-year view, which goes almost to the beginning of the QuickBooks Online database. (We started using this platform in 2007, but a 13-year view sounded unlucky, so I dropped that first year.) I think the graph will be self-explanatory, but here are a few comments.

• The stacked bars in the chart follow the same sequence as the rows in the table. The Checking account is on top of the table, and is the bottom bar in the stack.

• Some of the accounts are so small in dollar terms that they don’t actually show up in the chart. You can pretty much ignore Petty Cash, PayPal and Wells Fargo Credit.

• Accounts Receivable are monies that we were owed but had not yet collected as of the date of the report. That floats up and down, but it’s pretty small in the scheme of things.

• Prepaid Expenses are monies that we’ve laid out for which we have not yet received the anticipated value. In 2018, you can see $10,000 in there, which represents deposits for both facilities and performers.

• The Vanguard Account, in green, is clearly the biggest asset. This account was seeded by a very generous donation from Mike Agranoff back in 2003, and moved to its current home under the guidance of Andy Koenig. It’s been very, very good to us.

In non-financial terms, I’m happy that this year we’ve turned the Treasurer’s job into a team effort, because it really has been a boat-load of work. Thanks to Mike for taking over the PRO Liaison job, to Gary Pratt for stepping up as E-Payments Manager and to Pat Brangs who will be coming in as the Bookkeeper. I’m sure they will support the new Treasurer well, whomever that person may be.

I’ve been on the board for most of the last 36 years, serving as a Trustee, as President, as Secretary and as Treasurer. That’s more than half my life! It’s been a hoot.

See you tomorrow night.

Regards,

Chris

Chris Riemer