[foundation-board] Finances update

Thu Aug 9 06:55:51 UTC 2018

Thanks Karin!

To clarify one point re my question, the emphasis was on cost reduction
steps (I've indicated by bolding here):

>> - If expenditure exceeds expected income what steps we are taking re
*costs* and income (we already have the pipeline for a sense of we are
doing to grow income though)

The bracketed comment at end was about my point that we have pretty good
foresight on income due to pipeline (plus fact that large grants, at least,
take at least 6 months to develop) but what are we going to do to reduce
costs? I know this can be a sensitive issue but it is important we are
acting proactively here.

Rufus

On 1 August 2018 at 14:25, Karin Christiansen <karin.christiansen at okfn.org>
wrote:

> Dear All (and Rufus in particular),
>
> Regarding last week's finance discussion - we thought we had sent through
> the cashflow burn narrative
> <https://docs.google.com/document/d/1RpErwlaCzi5-gC4UaGDQscILFNq41ZBDjsxs8ReS_7c/>,
> which had been amended to address Rufus's questions around finance ahead of
> last week's meeting, but the changes weren't reflected in the document you
> had access to. Our apologies for the resulting confusion.
>
> One question not addressed in that is:
> >> - If expenditure exceeds expected income what steps we are taking re
> costs and income (we already have the pipeline for a sense of we are doing
> to grow income though)
>
> In part this was addressed in our discussion about reserves (we are
> maintaining reserves and monitoring cashflow to reduce exposure and costs)
> but the approach for how to get more income and shifts in the business
> model as core funding drops is an ongoing leadership discussion  and one we
> clearly need to engage in with the board.
>
> Do let us know if you have any further questions.
>
> As noted, in general do liaise with Mark if you have suggestions,
> concerns, questions, general feedback, etc.  With his drop to 2 days we are
> working through the best use of this time.
>
> Great to meet you all last week and looking forward to working together in
> September.
>
> Karin
>
>
>
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>

-- 

*Rufus Pollock - https://rufuspollock.com/ <https://rufuspollock.com/>+44
07795 176 976 | skype: rufuspollock | @rufuspollock
<https://twitter.com/rufuspollock>Founder and President, Open Knowledge
International <http://okfn.org/> - An information age that works for
everyonehttp://okfn.org/ <http://okfn.org/> | @okfn
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<http://blog.okfn.org/>Shuttleworth and Ashoka Fellow Previously Mead
Fellow in Economics at the University of Cambridge*
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