Finance Operational Notes

This documented is intended to document various aspects of OSGeo's financial operations, to provide rough information on how things are setup to the treasurer, finance committee, and board.

General

• Tyler as ED is responsible for day to day financial operation of OSGeo. He makes payments, issues invoices, cashes cheques, and enters transaction details into the accounting system (Quickbooks online).
• The Finance Committee is responsible for auditing financial reports, developing financial management policy, and preparing a budget for the board.
• The Treasurer chairs the Finance committee, and is responsible for operational financial decisions within the framework of the budget.
• The Board of Directors is responsible for approving a budget.

Quick Books Online

OSGeo keeps detailed accounts using Quick Books Online. Currently Tyler (ED) and the Treasurer have accounts with update access for the OSGeo Quick Books instance. The rest of the finance committee has access to a read-only reporting account (contact Tyler or the Treasurer for details).

Processes

On monthly basis:

1. Download account data, import to Quickbooks
   1. Include three bank accounts, paypal
2. Enter credit charge charges, invoices, bill pays
3. Review wire transfers, confirm sources
4. Reconcile account data with cash accounts
5. Pay credit card bill

Quarterly:

1. Reviewing sponsorship status
2. Issue new or follow up on outstanding sponsor invoices
3. Produce quarterly reports - income/expenses, balance sheet, summaries by class

Ongoing:

1. Pay marketing and office bills