18) Budget

[Bob Armstrong]

Hi John:

I don't think so. The OCA Bylaw fixes the fiscal year from April 1 to March 31:

Article 3 Finance and Management

3.1 Fiscal Year – The fiscal year of the Corporation shall be April 1 to March 31, or such other period as the Board may from time to time determine.


So the 2012 OYCC ( April 28-29/12 ) fell into the current fiscal year 2012-3, for which, since April 1, OCA has been operating soley on an executive approved budget.

Bob

[Marcus Wilker]

I made a time-table of the OCA finances using Treasurer's reports in 2010/11 and 2011/12 years, and additional expenses which will occur (or already have occurred) in 2012/13 financial year + a discussed budget.

See the picture.




There is a confusion with OYCC and other expenses. Seems that 2012 OYCC event was paid over 2011/12 financial year. Thus, a 2012/13 budget will finance 2013 event which will be after the "jurisdiction" of the budget period.

I would suggest to stop such confusions - the budget and all finances are only for events in the allocated financial period - May 1 till the next year April 30.

This looks great, Egis. If we can get a document like this polished and approved at the financial meeting, I think nobody can claim they don't understand our finances.

[Egidijus Zeromskis]

Article 3 Finance and Management

3.1 Fiscal Year – The fiscal year of the Corporation shall be April 1 to March 31, or such other period as the Board may from time to time determine.

Bob, would it mean that the current financial reports are not what really is required as they are dated for April 30. I may add one more sentence to confuse more

" He shall furnish information about the financial situation of the Corporation; annually, as of the last day of the fiscal year, (March 31st), "

[John Coleman]

Remarkable! Is the fiscal year-end Mar 31 or Apr 30 ??

Someone should know!

[Christopher Mallon]

Fiscal year ends March 31st. There was talk of changing it (April 30th would make more sense) but we'd have to do this officially via the government and so we left it alone.

Actually even December 31st would make more sense than what we have now.