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SoylentNews -- Site Activity, Finances, etc.

Accepted submission by martyb at 2020-08-03 03:10:57

Work In Progress!

I received a report from our treasurer that I would like to share with the community:

I have just updated the books and prepared the attached financial statements (Balance Sheet and Profit and Loss Statement) for our Fiscal Year 2019 (July 1, 2019 through June 30, 2020). As you can see from the P&L Statement, whereas we ended the previous fiscal year with a net loss of $1,057.97, we ended FY2019 with net income of $1,348.05 (clearly much better, and if we can keep this up going forward, we should be in good shape). Turning to the Balance Sheet, we ended FY2019 with a total of $5,008.20 cash on hand, which gives us a runway of approximately 10 months, given our burn rate of about $6,000 per year. This, of course, assumes no significant change (increase or decrease) in our expenses going forward.

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