Financial Report Summary to 2018 CODATA General Assembly
The financial report presented at the 2018 CODATA General Assembly by John Broome, the CODATA Treasurer, highlighted the 2017 audit results, balance sheet, assets details, reserve fund status, statement of operation from 2015-2017, and dues information. The 2017 balance sheet showed total assets of 297.003 Euros, with no identified issues in the audit report. A reserve fund of US$100,000 was established in 2013, with half withdrawn in 2018. Revenue sources and expenditures for 2015-2017 were detailed in the report.
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Financial Report to the 2018 CODATA General Assembly John Broome CODATA Treasurer 1 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
2017Audit Audit prepared by Chartered Accountants Sadec-Akelys (Paris) in Euros using accrual method. No issues were identified by the auditor. Dues to time constraints and complexity, a summary of the 2017 audit and 2018 budget is presented here. 2 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
2017 Balance Sheet Euros 308 685 355 514 -46 829 Income Expenditures Net : Assets (Dec 31, 2017) 297 003 (From final 2017 audit) 3 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
2017 Assets Dec 31, 2016 Dec. 31, 2017 (Euros) 135 454 73 345 65 385 20 819 297 003 (Euros) Assets Cash Short term investment Dues receivable Interest, misc. Total Assets: 157 481 79 865 57 016 47 992 342 354 Liabilities: 41 031 Accounts payable 42 509 254 494 Net Assets: 301 323 4 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
Reserve Fund A reserve of US$100,000 was established 2013 in the form of a term deposit in a Canadian bank. The 2-year term matured April 12, 2018 with a value of C$115 818 ( ~77K Euro) To address the risk of possible 2018 cash flow issues, in April 2018 the EC withdrew half of the reserve and reinvested the remaining C$57000 . 5 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
Statement of Operation from 2015-2017 (from 2017 Audit) 2017 2016 2015 Revenues Member Contributions Associate Organizations Supporting Organization "A" SciDataCon Data Science Summer Schools Data at Risk Nanomaterials FNN) African Open Science Program Data Integration Initiative Consulting Gain/Loss on Foreign Ex. Exp. reimbursement & Other Interest 210327 210 4000 220686 420 1980 14803 21646 7886 30178 195246 0 5980 4781 0 21865 0 0 0 20000 7365 25218 9449 0 0 0 0 0 0 14287 32627 5927 1674 269971 1765 16784 1151 308685 -5739 427 2033 294320 TOTAL REVENUES Expenditures Communications Task Groups Administration and core functions Governance Scientific Activities TOTAL EXPENDITURES: 1516 28327 155746 47519 122406 355514 3692 16085 172621 72406 103113 367917 1006 17138 163157 40724 60249 282274 6 Nov., 2018; Gabarone v.4
Dues 2016-2018 2016 Dues invoiced: . 220 686 Euros Dues received: . 219 460 Euros 2017 Dues invoiced: . . 210 327 Euros Dues received to date:.. 198 801 Euros 2018 Dues invoiced: ........... . 223 657 Euros 7 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
2017 Member Contributions 2017 7 314 2016 2015 7 300 7 180 Australia 10 457 10 292 Canada 10 478 36 201 6 732 2 096 8 397 2 414 31 373 7 754 1 256 1 038 6 287 10 441 2 683 1 048 20 956 53 859 210 327 38 318 24 552 China (Beijing) 6 719 6 613 China (Taipei) 2 091 2 058 Finland 8 892 7 418 India 2 555 2 396 Israel 31 311 30 818 Japan 8 207 6 762 Korea 1 235 - Kenya 1 036 - Mongolia 6 274 6 175 Netherland 10 442 10 196 Russia 3 276 2 640 South Africa 1 046 1 029 Ukraine 27 776 20 586 United Kingdom 53 751 52 905 United States 8 Total: 220 686 195 246
2017 Expenditure Breakdown Administration and Core Functions Salaries and Statutory Charges Secretariat Premises Office Supplies Fax, email, teleconference Professional Fees Bank Service Charges Unpaid Membership Contributions Other Administrative 116761 9739 1748 1623 15057 1540 2219 7059 Total 155746 9 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
2017 Expenditure Breakdown Strategic Activities Fundamental Constants CODATA 2017 -St. Petersburg Nanomaterials (ICSU Grant) Nanomaterials (FNN) Latin America African Platform Data Integration Initiative Data Policy Committee ECDP Data Science Summer Schools 4167 2848 1869 34196 7939 13307 34222 3075 1089 19694 Total 122406 10 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
2017 Expenditure Distribution 28327 155746 47519 122406 Task Groups Strategic Activities Administration & Core Functions Governance & Meetings 11 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly Admin.
2018 Budget 2018 Budget 2017 Revenues 211000 4000 5000 10000 72000 6000 7000 315000 Member Contributions 210327 Associate & Supporting Organizations 4210 Nanomaterials 20000 Data Science Summer Schools 21865 Data Integration 25218 African Open Science Platform 7365 Exp. reimbursement & Other 19700 308685 TOTAL REVENUES Expenditures 1000 20000 154000 29000 107700 311700 3300 Communications 1516 Task Groups 28327 Administration and core functions 155746 Governance 47519 Strategic Activities 122406 355514 TOTAL EXPENDITURES: -46829 NET LOSS Nov., 2018; Gabarone v.4 12
Summary 2017 No issues were identified in the 2017 audit. The deficit was ~47K Euros - close to the EC budget. Assets remained adequate to cover 1 year of operations. Increased spending areas: Strategic activities, administration, meeting travel. Task Groups spent ~100% of allocated funds in 2017 2018 The 2018 budget was reduced by 43K Euros and balanced. Decreased spending on governance and meetings. New sources of income are required to increase activities. 13 Nov., 2018; Gabarone v.4 CODATA 2018 General Assembly
2018 Budget Distribution Task Groups Strategic Activities 1 2 Administration & Core Functions 3 Governance & Meetings 4 5 15 Nov., 2018; Gabarone v.3 CODATA 2018 General Assembly Admin.
