[foundation-board] Finance update

[Jo Walsh]

Jason, this is much appreciated. Quick comments:

20k project fund sounds promising, are there thoughts on how it will be
managed, projects picked, what average grant is, what conditions?

Open Spending - likely i've not been paying attention, all I could see
online was Jonny's thorough blog post about the proposal to the Knight
Foundation back in Jan.

Re community organiser - good idea, but I don't think anybody should have to
work five days a week. I work four and wish I could afford three...

On 21 Mar 2011 17:05, "Jason Kitcat" <jason.kitcat at okfn.org> wrote:

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

--
Jason Kitcat
Project Co-ordinator
The Open Knowledge Foundation

+44 (0) 7956 886 508

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


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