\title{Finance Committee} 
\maketitle

\begin{description}
	\item  [Period covered by report:] Jan-Dec 2007 
	\item  [Contact name:]  Dave McIlhagga, Treasurer
\end{description}

OSGeo's first full financial was in 2007.   There were some funds to manage in 2006, particularly at the end of the year, but most sponsorships and costs started in 2007.  This report also serves as a brief 2006 summary.

\section*{ Highlights }

\begin{itemize}
	\item Dave McIlhagga was appointed Treasurer for OSGeo.
	\item Finance Committee created to oversee activities, including Dave McIlhagga, Tyler Mitchell, Paul Ramsey, Ken Tamura \& Jo Walsh. 
	\item Finance discussions on public mailing list.\footnote{Finance Committee list: \url{http://lists.osgeo.org/mailman/listinfo/finance}}
	\item Managed new sponsorships, renewals, expenses.  
	\item Set up banking, PayPal and provided support for Project Sponsorship program.
\end{itemize}
 
\section*{Sponsorship \& Revenue}

There were officially seven sponsors during 2007.   Sponsorship positions have a 1 year term.  Three sponsors donated at the end of 2006 but four additional ones  joined during the 2007 calendar year.  The three sponsors from 2006 have also renewed their support for another year.

\begin{itemize}
	\item \$130,000 was from Autodesk as a special donation, giving them a Sustaining Sponsorship position
	\item \$20,000 came from the Supporting Sponsors: INPE and Ingres
	\item \$12,000 came from the Associate Sponsors: 1Spatial, First Base Solutions, LizardTech, WhereGroup
	\item There was also significant revenue generated from annual Project Sponsorships through GDAL/OGR.
	\item More than \$100,000 was raised from the FOSS4G 2007 annual event.\footnote{FOSS4G 2007 Event: \url{http://foss4g2007.org}}
\end{itemize}

Our first year of fundraising was a success and helped sustain and surpass our financial needs for the year. Additional sponsors for the 2008 year are already starting to come forward so programs can be extended.


\section*{Financial Statement Summaries}
The following are the first set of financial statements generated for OSGeo.  The 2006 Summary is provided for reference as the summary from the first year of operations.  Various views of Income, Expenses and various other Classes are also presented for the full calendar year of 2007 further below.

\subsection*{2006/2007 Snapshot}

\begin{tabular}{@{}lccc@{}} \toprule 
\textbf{USD \$} & \textbf{2006} & \textbf{2007} & \textbf{Total}\\ \midrule 
\textbf{Income} & 63,436 & 622,831 & 686,267 \\ 
\textbf{Expenses} & 22,296 & 488,494 & 510,790 \\  \bottomrule
\end{tabular} 

\subsection*{2007 Annual Summary}

\begin{tabular}{@{}llr@{}} \toprule 
\textbf{Income} 	& & \textbf{(USD\$)} \\ 	
&	Conference Fees \& Sponsors	&	\$437,385 \\
&	Sponsors \& Donations	&	\$185,446 \\
\textbf{Total Income}	&	&	\textbf{\$622,831} \\ \midrule
\textbf{Expenses}		&	& \\
&	Banking&	\$356 \\
&	Conference Expense&	\$331,963 \\
&	Contract Labour (GDAL)	&	\$12,551 \\
&	Equipment Rental	&	\$148 \\
&	Incorporation Costs	&	\$274 \\
&	Office Related &	\$4,859 \\
&	Payroll \& Benefits	&	\$99,779 \\
&	Postage \& Delivery	&	\$446 \\
&	Professional Fees	&	\$1,000 \\
&	Promotion \& Visibility	&	\$5,925 \\
&	Systems	&	\$15,517 \\
&	Travel	&	\$15,676 \\
\textbf{Total Expenses}		&	&	\textbf{\$488,494} \\ \midrule
\textbf{Net Balance}		&	&	\textbf{\$134,337} \\
\bottomrule
\end{tabular}