Well, better late than never. Here is my monthly financial report for February 2007. As usual, the financial reports are posted here:
Neufreistadt Balance Sheet in Lindens
http://www.tospitimou.com/Neualtenburg/ ... heetLD.pdf
Neufreistadt Balance Sheet in US Dollars
http://www.tospitimou.com/Neualtenburg/BalanceSheet.pdf
Neufreistadt Income/Expense Report in Lindens
http://www.tospitimou.com/Neualtenburg/ ... enseLD.pdf
Neufreistadt Income/Expense Report in US Dollars
http://www.tospitimou.com/Neualtenburg/ ... xpense.pdf
You can also access the US dollar versions of these reports through http://neufreistadt.info/id13.html.
Looking at the US dollar versions, and, looking at the Income/Expense Report first, we can see that we had another good month. I will point out that one reason is obvious. To my knowledge (and despite several rotating signs to the contrary), there is NO land available on either sim. Since all available land is "owned", and therefore income-generating, we are receiving essentially 100% of potential "tax" revenues. Not only is this good for our revenue stream, it also means that there is potentially demand for our land, which, should anyone be interested in selling, may help their ability to get a good price.
There also remains a healthy revenue amount from land sales (by the government). This WILL NOT continue. With all land sold, the only source of revenue for the CDS will be from parcels abandoned or reclaimed for non-payment of monthly fees. I expect this number to lower in coming months, until a possible new sim is acquired. Still, even without this component of revenue, we received US$482 in land taxes, well above our monthly tier commitment to LL.
A couple of notes on land. There does remain one parcel in CN, R.01, which I have held aside and divided. Once it is entered into the database, I will make it available to those citizens in CN, within the walls, who need extra prims for their small parcels there. I apologize to the many folks who've inquired about this for my delay in getting this ready. The rule will be the same as in NFS, for its prim lots. One prim parcel per parcel within the walls. However, in the case of CN, there are not many prim parcels available.
Another note. There are two parcels in CN with rotating "For Sale" signs over them. Leaving aside the issue of whether these are permitted by the covenants, there is a bigger question of whether these parcels are indeed for sale at all. At least a half dozen people have inquired of the owner, Carolyn Saarinen, about purchasing them, and have reported to me that they have received no response. Ordinarily, people wishing to sell parcels will report to me that fact, and provide the offered sale price, so that I can list it on the website. In fact, Carolyn did this with parcel P270 in NFS, and that was subsequently sold. I have received no communication from her regarding the two parcels in CN, so i have no way of being helpful with those.
Back to the report. The Expenses for February were straightforward... about US$400. The bottom line for the Income/Expense Report show that the CDS improved its financial position by US$400 for the month of February.
Going now to the Balance Sheet, that $400 increased the "Equity", (way down at the bottom of the report), the overall value, of the CDS from about $1600 last month to about $2000 this month. That's a very respectable one month improvement!
Now, for the very interesting part of this month's report. As I've mentioned many times before (every month in fact! ), the Balance Sheet is the total of everything we *Own* (the Assets) minus everything we *Owe* (the Liabilities). The Assets are things like cash and the investments we've made in buildings and software... obviously we own these. The Liabilities are things like the loans we have taken from others and the sums of money which we *hold* for others who have deposited them with us for various reasons. This is a very important month for those two sections of the Balance Sheet.
Way back in October we ran a campaign in which we solicited loans from individuals so that we'd have the money needed to buy the new sim, Colonia Nova. In offering to borrow that money, we promised to pay back at least 50% on April 1, 2007, and to pay 6%/year interest on the money which was borrowed. We also said that if possible, we would pay back more than 50%, up to the full amount of the loans.
Well, April 1 is about here, so let's look at where we stand. The Balance Sheet tells us everything we need to know. First, at the top, the section called Current Assets is entirely made up of cash. And you can see that on February 28, we had US$5266.73 in the bank. Leaving aside the mandated two months tier, equal to US$780, we have approx US$4486 available to us for loan repayment.
Next, going down to Current Liabilities, this section is entirely composed of the October loans. The principal amount which we owe (not counting interest), is as you can see US$3440.80 (approx, since some of the loans were in L$ and some in US$). If, in addition, we further need 3% interest on that amount (half a year at 6% interest per year), we need to add US$103.22, for a total of approx US$3544 needed to pay off the loans entirely!
Obviously, we will. We promised the lenders to pay back their loans to us on April 1st, if we could. Not only can we, but we can pay them off and still leave US$942 in the bank over and above the mandated $780 two month's tier. This is very very good news. The sims of the CDS have returned a very good income for its citizens. And in borrowing this rather substantial sum of money, and then paying it back exactly according to the committed terms, AND doing so in the most positive way (i.e. 100% in 6 months), we have begun to build a foundation as a solid and dependable financial institution. We are indeed worthy of attention by the investing community, should they wish to find a place to invest their money, and, of course, should we decide to solicit their money.
A thank you to all of us and a congradulatory pat on our collective backs 
.
Sudane.....
