Moderator: SC Moderators
Folks,
Here's a link to the financial reports for December. The Income and Expense tab includes a comparison between the month itself, and how we did for the whole year. It's actually quite exciting... we did very well financially for 2007.
http://spreadsheets.google.com/pub?key= ... n5mN1c11XA
Questions... please ask.
Sudane............................
Sudane,
Thank you for posting this.
The healthy positive cash balance does make me wonder why we have the debts on the books. I assume if there is no interest due on said loans. I which case then keeping the money is prudent providing the CDS are earning interest on it. If possible can you expand a little on the situation 
Thanks
Leon
Leon,
Glad you're looking closely. Thx!
There are three items of "debt".... not really debt, per se, but "liabilities", meaning money that we owe.
1) Called "Loan Holding Account", L$27,000, or about US$100. Sometime last year Beathan contributed this money to the community. I don't remember exactly what it was for, but I do remember that he contributed the money for a purpose which was not yet in place to spend the money on.... it may have been for a new sim. Ordinarily, if the use, or destination, was clearly identified, it would be posted as "Revenue"... contributed income. Since it was not yet clear, I posted it as a liability, pending a final decision on its use. When that was decided, the the money would be moved into Revenue, and the Liability would be erased. Because its been so long, I figure at some point I will contact Beathan, see what he wants to do, and if he desires, give it back to him. As a Liability I can easily do that, but if it was a Revenue I could not.
2) There's a L$6000 "Loan from Sudane". That was a screw-up on my part. I donated the musicians fee for the classical music concert in the kirche. I donated the money, forgot that I had done so, and donated it again. I only discovered this going through the transactions after January first. Since I couldn't correct it by December 31, it had to show on the books someplace, so I put it in as a loan. I've already paid it back to myself.
3) "Escrow funds Eldrich Financial". L$20,000. From time to time various businesses have deposited money in our account as a "guarantee of good behavior", a guarantee to their customers that should there be any problem with business that they do with that company, there is money held by the city for any judgment that might occur in the customer's favor. This is not money "owned" by the community... it is funds held "in escrow", and, in theory, the owner of it could ask for it back at any time. The only citizen still having funds with the community in this fashion is Pelanor Eldrich.
You can see that none of this money, totalling the L$53,000 shown on the Balance Sheet, is technically a loan, so we pay no interest on it.
The issue of investing the money that we *do* have (currently about US$3500 in Current Assets) in interest bearing accounts is another question entirely. While we are getting to the point where that should be considered, the solution to that is far from obvious. I welcome that conversation.
Sudane.....................
Well I'm impressed by the accuracy in financials.
It would be great if we could also have a register of citizens (and some demographic statistics...) and a land register...
Do I detect a volunteer?
I think I contributed the money for the CDS radio station because Michel was trying characterize the fact that no money was available in the budget to fund his CDS NPR proposal as proof that the RA and CDS government was against good ideas in general. I funded the proposal. Michel failed to follow through.
I have no objection to using the money for sim expansion. Also, this money was gift -- a contribution -- not a loan. It was an earmarked contribution, but we can change that earmark to sim expansion.
Beathan
Beathan wrote:I think I contributed the money for the CDS radio station because Michel was trying characterize the fact that no money was available to fund his CDS NPR proposal to create the radio station as proof that the RA and CDS government was against good ideas in general. I funded the proposal. Michel failed to follow through.
Yes, that would make sense. Since there was no budget for the radio station proposal, I kept it as a liability, pending final decision on it use.
I have no objection to using the money for sim expansion. Also, this money was gift -- a contribution -- not a loan. It was an earmarked contribution, but we can change that earmark to sim expansion.
Beathan
Well, I think I explained that it was not posted as a loan per se (despite the label on the account). Since we have since had one "sim expansion", and it seems likely that we will soon have another, I will convert the amount into revenue, specifically a Contribution. I have no way in the books as they are currently set up to track something as to its specific "earmark", but I think we can take the previous post as documentation of the intended use of the contribution, and the contributor can himself determine if the money is used as he has intended by examining the monthly financial reports.
Sudane............
Sudane Erato wrote:Do I detect a volunteer?
Ok one available here, for Alpine Meadows mapping and land register. But I think we need a public location in world to expose maps permanently. Any suggestions? Can we discuss this in the next guild meeting? How can i propose a subjct for the guild meetings?