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ICF-GTA Financial Forecast As of August 31, 2009

ICF-GTA Financial Forecast As of August 31, 2009. Page 1. Page 1. Key Issues Reported on July 31. Only $830.00 in current account on July 31. (31/8 $2980) Very tight financial situation Lack of confidence in financial management process and numbers.

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ICF-GTA Financial Forecast As of August 31, 2009

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  1. ICF-GTA Financial ForecastAs of August 31, 2009 Page 1 Page 1

  2. Key Issues Reported on July 31 • Only $830.00 in current account on July 31. (31/8 $2980) • Very tight financial situation • Lack of confidence in financial management process and numbers. • Uncertainty about cost versus value from VO. • Budget for 2009/2010 not yet approved.

  3. Approach • Finalize the forecast for the rest of the year. • Requesting formal BOD approval for Forecast (Sept to Feb). • Implement financial controls and other actions to ensure budget is met or exceeded. • Requesting formal BOD approval for Procedures. • Review and correct the YTD Actuals. • All March to August monthly transactions reviewed. • Address other short term priorities. (For now stay with V.O). • In progress: Financial process, Outstanding balances, Tax Returns • Review and improve financial management infrastructure and operations (For medium to long term). • Not Started

  4. Approach • Review way to improve financial state with BOD and Committee Chairs • Member Meetings • Membership • Other?

  5. Summary Forecast (September to February)

  6. Bank Balances August 31, 2009

  7. Comments • Remaining PRISM income of $1500 included in non-event income. • Full Membership income in august = $1275. • ICF International subsidy $10,000 to be processed in Sept.

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