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Special General Meeting 2013-03-17 Discussion
A SGM is called by board in Board Meeting 2013-02-24 m20130310.4
Time was agreed later m20130227.1
Call
Agenda
Correction to Financial Report FY 2011-2012
Preliminary Financial Report FY11/12 (handle with care) corrected by Michael Tänzer
Currency Rates
Currency rates at the end of the fiscal year:
- USD: 1.020342
- EUR: 0.810438
Summary
The difference is always between the numbers from FY10/11 and the updated numbers from FY11/12 (Report 2013-02-12).
Description |
Report 2013-02-12 |
Diff. |
||
Current Assets |
13718.60 AUD |
14613.19 AUD |
+1.3% |
14432.72 AUD |
Current Liabilities |
0.00 AUD |
3772.41 AUD |
+29.9% |
2903.75 AUD |
Equity |
13718.60 AUD |
10840.78 AUD |
-6.0% |
11528.96 AUD |
Income |
3920.61 AUD |
3995.90 AUD |
-13.3% |
4606.29 AUD |
Expenses |
2716.53 AUD |
4684.08 AUD |
-16.2% |
5591.86 AUD |
Profit |
1204.08 AUD |
-688.18 AUD |
+30.2% |
-985.56 AUD |
Current Assets
Acc. No. (old) |
Account Name |
Report 2013-02-12 |
Diff. |
||
B212 |
Accounts Receivable USD |
- |
143.93 USD is 141.06 AUD1 |
- |
- |
B213 (1800) |
Accounts Receivable EUR |
238.362 |
- |
- |
- |
B421 (1701) |
Westpac Transaction Account |
345.68 |
345.68 AUD |
+0.2% |
345.05 AUD |
B422 (1700) |
Westpac Savings Account |
11042.51 |
11042.51 AUD |
+3.0% |
10720.79 AUD |
B423 (1706) |
Credit Union Australia |
137.25 |
137.25 AUD |
0.0% |
137.25 AUD |
B431 (1702) |
PayPal AUD |
1954.80 |
1954.80 AUD |
+144.9% |
798.09 AUD |
B432 (1703) |
PayPal USD |
-3 |
935.84 USD is 917.18 AUD |
-61.2% |
2366.72 AUD |
B433 (1704) |
PayPal EUR |
-3 |
60.55 EUR is 74.71 AUD |
+15.3% |
64.82 AUD |
Total Current Assets |
13718.60 |
14613.19 AUD |
+1.3% |
14432.72 AUD |
- 1: Contains unpaid membership fees as well as prepayments from members
- 2: Contains unpaid membership fees conducted in EUR
- 3: Were not included at all in the AGM 2012 report
Current Liabilities
Acc. No. (old) |
Account Name |
Report 2013-02-12 |
Diff. |
||
E111 (31) |
Accounts Payable AUD |
- |
- |
-100.0% |
1023.40 AUD |
E113 |
Accounts Payable EUR |
- |
-2000.00 EUR is -2467.80 AUD |
- |
- |
E32 |
Provisions for bills to receive |
- |
6240.21 AUD |
+231.9% |
1880.35 AUD |
Total Current Liabilities |
- |
3772.41 AUD |
+29.9% |
2903.75 AUD |
We made a prepayment of 2000 EUR for hosting to Oophaga without receiving an invoice. But this doesn't cover the costs for a full year so in the updated report there is a provision for bills to receive, the prepayment will be settled with the invoice received in the end of 2012 (but after the FY11/12). The AGM 2012 report just assumed the hosting costs covered and therefore made no provision. As there already was a provision carried over from last year this would mean that only 587.45 AUD in hosting costs would be accounted for the whole year, which is way too low and gives a false impression of our current situation.
Equity
Acc. No. (old) |
Account Name |
Report 2013-02-12 |
Diff. |
||
C3 (41) |
Retained earnings (last year) |
12514.52 AUD1 |
11528.96 AUD |
-7.9% |
12514.52 AUD |
PNL (32000) |
Retained earnings (this year) |
1204.08 AUD |
-688.18 AUD |
+30.2% |
-985.56 AUD |
Total Equity |
13718.60 AUD |
10840.78 AUD |
-6.0% |
11528.96 AUD |
- 1: The AGM 2012 report just took the "Retained earnings (last year)" from FY10/11 without subtracting the loss experienced in that year
Income
Acc. No. (old) |
Account Name |
Report 2013-02-12 |
Diff. |
||
F1 (4010) |
Donations |
- |
1337.00 AUD |
-52.9% |
2841.17 AUD |
F21 (4150) |
Membership Fees |
- |
459.54 AUD1 |
-36.7% |
726.48 AUD |
F22 (4011+4012) |
Assurer Certificates |
- |
124.59 AUD |
+19.2% |
104.48 AUD |
F23 (4015) |
Password Reset Service |
- |
736.28 AUD |
+22.7% |
599.94 AUD |
F3 (4210) |
Advertising Income |
- |
1145.98 AUD2 |
+786.3% |
129.30 AUD |
=> Total Own Income |
- |
3803.39 AUD |
-13.6% |
4401.37 AUD |
|
G1 (7010) |
Interest Income |
- |
153.85 AUD |
-24.9% |
204.92 AUD |
G2 |
Income Suspense |
- |
38.66 AUD |
- |
- |
=> Total Other Income |
- |
192.51 AUD |
-6.1% |
204.92 AUD |
|
Total Income |
3920.61 AUD |
3995.90 AUD |
-13.3% |
4606.29 AUD |
- 1: 400 USD in prepayments were already accounted for as membership payments in previous years, so they have to be subtracted from the earnings in the following years. This means that regularly we would have 860 USD in membership fees in FY11/12 but subtracting the fees already accounted for, this leaves us with 760 USD. Now I would have to subtract the remaining already accounted for 300 USD in the following years but then I have to keep track of those and never forget them (also when the treasurer changes). I therefore decided to subtract them all in this year.
- 2: We invoiced the "Dentaltrade" advertisement of 600 EUR
Expenses
Acc. No. (old) |
Account Name |
Report 2013-02-12 |
Diff. |
||
I22 |
Events |
- |
- |
-100.0% |
1023.40 AUD |
|
Software Testing Reward |
- |
- |
-100.0% |
117.54 AUD |
I74 (6351+6336) |
Hosting |
- |
4500.30 AUD |
+17.7% |
3822.78 AUD |
|
Hardware |
- |
- |
-100.0% |
126.66 AUD |
I82 (6120) |
Bank Service Charges |
- |
138.23 AUD |
-31.1% |
200.53 AUD |
I83 (6050) |
Exchange Variance |
- |
45.55 AUD |
-84.9% |
300.95 AUD |
Total Expenses |
2716.53 AUD |
4684.08 AUD |
-16.2% |
5591.86 AUD |
Profit
Discussion
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Log
https://svn.cacert.org/CAcert/CAcert_Inc/General_Meetings/SGM-20130317/2013-03-17.195531+0100CET.txt
Links
Minutes of SGM 2013-03-17
1 Opening
Werner Dworak chairs the meeting and takes the minutes.
The meeting was opened at 21:05 UTC.
The SGM was called by the board and is so valid anyway. But with 17 members attending the quorum of five members is fulfilled too.
2 Business
Michael explained the reasons for this SGM: In the last AGM we thought that the previous financial report was not detailed enough but was correct. When I took over Treasurer I figured out that it was not, because there were some mistakes in how the report was done. For example it missed some asset accounts. I talked to Jeffery about the changes and I am confident that the updated report is correct. As the fixed report is not only a detailed version of the previous report, I figured the members will have to explicitly accept the new version.
Several people thanked Michael for his excellent work.
VoteBot: Accept the newly amended 2011-2012 Financial Report
AYE: 16
NAYE: 0
ABSTAIN: 1
Therefore the motion is carried
Michael plans to send out invoices for unpaid membership payments soon.
At the end of the meeting Michael sent the report to Kevin Dawson who will fill it into the form A12 for the OFT and and forward it to the OFT.
3 Closing
The meeting was closed at 21:44 UTC
4. Motions within SGM