602-P-BRD-502

Financial Report of the XX Board

Financial Report of the XX Board

• Revenues• Expenses• Surplus• Available cash and savings• Look into the future

Revenues

• Appendix 3: details of revenues• Total revenues of € 201.595,36• Thanks to efforts of finTeam

• Increased # of Partners• New partnership fees• Increased support to GM organisers• Approval EC Grant

Expenses

• Appendix 2: Statement of Activities• Appendix 4:Details of expenses• Total expenses of € 118.165,78

• Budgeted: € 59.785,13• Extra: € 58.380,65

• Budgeted expenses versus Budget: 85%• Company trips: € 4.701,72

Surplus

• Appendix 2: Statement of Activities• Change in net assets € 82.429,58

• Unrestricted: € 68.099,58• Temporarily restricted: € 15.330,00

• Are we still non-profit?• Result from late known revenues

Available cash and savings

• Available cash left to the XXI Board: € 10.000• Savings

• As of 30th June 2007: 55.529,01• As of 30th June 2008: 95.442,78

• For the first time, savings exceed the annual budget

Look into the future

• A large surplus is to be expected again• We need to evaluate the most beneficial way

for BEST to spend its resources• Support for LBGs that organise Internal Events?• Free annual reports or other marketing materials?• A house?

What do I want you to remember?

• Revenues of € 200.000• Expenses of € 120.000• Surplus of € 80.000

• Unrestricted: € 68.000• Savings increased from € 55.000 to 95.000• We need to think on how to focus our

resources

Questions?