Statement of Financial Position:
This statement of financial position provides an overview of Marmot's assets, liabilities, and equity. Marmot's assets include the investment account with Alpine Bank. A healthy operating account balance at the end of the year allowed Marmot to transfer $45,000 to the investment account, bringing it (at the time) to the current target amount of $500,000. The market fluctuations in the wake of the government shutdown have impacted the total amount in the investment account. The Executive Board will be discussing the state of the investment account and goals with the Alpine Bank investment banker at the upcoming January 11 Board meeting.
Profit & Loss Report:
This profit & loss report provides an overview of income and expenses linked to the specific programs and services provided by Marmot, and compared to what was originally budgeted. Below are a few salient data points from this report:
- Total ILS income was down by $71k from the budgeted amount due to the timing of half-year invoicing, for members on a July-June fiscal year.
- Workstation maintenance income was down $84k from the budgeted amount. This was in part due to the timing of half-year invoicing for members on a July-June fiscal year. This is also attributable to a decrease in maintenance for PCs accompanied by an increase in maintenance for tablets/Chromebooks/Chromeboxes.
- Income for EnvisionWare was around $20k over what was budgeted due to an accounting error that placed income for the EnvisionWare server in this account rather than with Workstation Maintenance.
- Discovery income was up $110, 208 as a result of new Discovery Partner one-time implementation revenue plus increased on-going maintenance charges for new and existing Discovery Partners.
- Sales and Cost of Goods Sold was significantly over budget due to successful receipt of E-rate funding.
- Expenses for Other ILS Subscriptions was $38k under budget due to the cancellation of Decision Center and migration to Tableau.
- Maintenance expenses were over budget due to the purchase of network equipment, partially offset by E-rate funding.
- IT Services travel was $38k under budget due to the purchase of the Marmot car in 2017, with reductions in service costs associated with a replacement vehicle.
- Wages and salaries were $87k under budget due to the number of vacant positions Marmot sustained over 2018.
- Overtime pay was kept below the budgeted amount.
- Professional fees were over what was budgeted due to an audit of Marmot's accounts as well as increased usage of Marmot's attorney for HR, contract, and policy review.