commit: 162b3f3d621ee5855151a02816826307c7da4752
Author: Alec Warner <antarus <AT> gentoo <DOT> org>
AuthorDate: Fri Nov 9 02:05:08 2018 +0000
Commit: Alec Warner <antarus <AT> gentoo <DOT> org>
CommitDate: Fri Nov 9 02:05:08 2018 +0000
URL:
https://gitweb.gentoo.org/foundation/financials-rfp.git/commit/?id=162b3f3d
Fix spelling errors provided by Alice.
main.tex | 12 ++++++------
1 file changed, 6 insertions(+), 6 deletions(-)
diff --git a/main.tex b/main.tex
index f605f6a..a97a57c 100644
--- a/main.tex
+++ b/main.tex
@@ -57,7 +57,7 @@
\section{Main}
\label{opening}
The Gentoo Foundation is requesting proposals from CPA firms to provide audit,
tax, and bookkeeping services for our foundation.
-We invite your firm to send us a propsal by <DATE>. A description of the
foundation and its mission follows.
+We invite your firm to send us a proposal by <DATE>. The foundation and its
mission are described below.
\section{Definitions}
\label{sec:definitions}
@@ -90,23 +90,23 @@ The executive of the Foundation is comprised entirely of
unpaid volunteers, brok
\label{sec:background}
The financial state of the Gentoo Foundation is a Foundation with no
outstanding invoices and a cash on balance at the end of FY2018 of
approximately \$151K USD.
-No financial reports have been published by earlier Boards of Trustees since
2012\cite{finrep}, and there are well-founded concerns that the none of the
original reports are entirely accurate.
+No financial reports have been published by earlier Boards of Trustees since
2012\cite{finrep}, and there are well-founded concerns that none of the
original reports are entirely accurate.
As a result of negligence of previous treasurers and trustees necessary
paperwork has not been filed with federal tax authorities (henceforth
\textbf{IRS}).
A recent treasurer has taken responsibility for cleaning up the historical
baggage and performed a massive job of going through historical transactions
and recreated a full ledger of transactions. The recent treasurer is not a
trained accountant or book-keeper, and the work has been taken on a best-effort
basis.
The data of the reconstructed ledger is kept in a format for the open source
tool book-keeping tool Ledger\cite{ledger01}.
-Data can easily be exported from this tool and direct knowledge from
accountants are not necessary in order to access the books as the current
treasurer is available to support the efforts and data can be exported based on
the needs of the accountant.
+Data can easily be exported from this tool and direct knowledge from
accountants is not necessary in order to access the books as the current
treasurer is available to support the efforts and data can be exported based on
the needs of the accountant.
The recent treasurer did engage a CPA for several months in 2017, but that CPA
was unable to continue for personal reasons.
-The CPA did assist in creation of provisional set of financial statements for
the Foundation's first financial year, FY2005, which ending June 31, 2005.
+The CPA did assist in creation of a provisional set of financial statements
for the Foundation's first financial year, FY2005, which ended June 31, 2005.
The FY2005 data only contain 3.5 months of transactions, as the first bank
account was opened March 2005, nearly 10 months after the incorporation of the
Foundation.
The CPA also assisted in partially completing IRS Form 990 for FY2005, based
on the FY2005 financial statements.
Best-effort Financial Reports have been reconstructed until FY2018 available
at \cite{gentoo:finances}. Depreciation expenses have been captured, but
in-kind donations are still in progress.
\subsection{Operations for Fiscal 2018}
-The main income source is donations (23.162,01\$), followed by our
participantion in the Google Summer of Code program (4,700\$), interest of
current accounts (483.64\$) and sale (including royalties for) of Gentoo
merchandise (254.50\$). Expenses for FY2018 were \$9,292.95.
+The main income source is donations (23.162,01\$), followed by our
participation in the Google Summer of Code program (4,700\$), interest of
current accounts (483.64\$) and sale (including royalties for) of Gentoo
merchandise (254.50\$). Expenses for FY2018 were \$9,292.95.
This income is used to fund the Gentoo Project activities, including purchases
of infrastructure and marketing material; sponsoring projects related to
Gentoo's activities; and sustaining the foundation's own operational expenses.
@@ -119,7 +119,7 @@ This income is used to fund the Gentoo Project activities,
including purchases o
\end{itemize}
\subsection{Annual Audit and Tax Filing}
-While we consider it beneficial to have a verified accounting of the
Foundations finances up to 2018; We also require annual accounting services to
assist in filing taxes, not just for the past years, but on an ongoing basis.
+While we consider it beneficial to have a verified accounting of the
Foundations finances up to 2018; We require annual accounting services to
assist in filing taxes; not just for the past years, but on an ongoing basis.
\subsection{Historial Financial Reporting}
Due to the reconstruction of historical data, a verification of the presented
Financial Reports in final form is needed in order to have a confirmed view of
the Foundation's finances.
