[foundation-board] Finance update

[Jason Kitcat]

Dear Board

Rufus and I had a productive time last week looking at our finances.

We've shared via the Okfn.board at gmail.com account access to a 'Budget Overview' spreadsheet which is at http://bit.ly/eQeoI4

This is a simple top-level analysis of money we hold, money we expect this year and how they will be allocated. It was filled through detailed analysis of Xero and project-level budgets.

In summary, of the £411,000 currently accumulated funds, plus £40k we shortly expect for DGU we propose the following:

£105k	for current and shortly expected liabilities
£94k	for running projects (LOD2 & tiny bit of 4IP stuff)
£100k	to CKAN work
£30k	Open Spending
£48k	to a new 'Core General Reserve' which is enough for 6 months of OKFN running costs
£20k	to a new 'Project fund' for funding smaller projects and ideas

This leave £54k unallocated.

From this Rufus and I have agreed that a new graduate level post will be hired. This will be at about £20k per annum 5 days a week to do community building work particularly for CKAN, Open Spending and core work too. Rufus has someone lined up for this, so they should be able to start soon.

Moving forward we will keep ensuring project leads to focus on spending below their budget minus the core OKFN contribution. This should always leave us with a surplus for doing more interesting stuff, or dealing with the unexpected.

Let me know if you have any questions or thoughts.

Thanks,
Jason

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Jason Kitcat
Project Co-ordinator
The Open Knowledge Foundation

+44 (0) 7956 886 508

http://www.okfn.org
http://twitter.com/jasonkitcat