Minutes:2009 Financial report

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Open Bioinformatics Foundation

Treasurers Report: January 2009 - Present Prepared by: Chris Dagdigian Version 1.0 - December 2009

General Summary

As of 12/14/2009 we have the following balances in our banking accounts:

  • $14,813.25 - Standard Business Checking Account
  • $16,245.68 - Business Investment Checking Account

With respect to our bank accounts, the OBF tends to spend very little money, on the order of 5 financial transactions since 2004. We generally take in money in the form of interest from our accounts and the occasional directed donation.

All 2009 Financial Transactions

  • 05/19/2009 - ($520.00) -- Jason S. online billpay via Business Checking Account
  • 12/14/2009 - $15.17 -- Year to date interest on our Business Investment Checking Account
  • To be deposited - $250.00 -- Anonymous donation for BOSC travel fellowship

Financial Oversight

Unchanged since 2008, Jason Stajich & Chris Dagdigian have shared online access to our Bank of America accounts and statements. We have an ATM card and a Visa debit card that have (intentionally) never been activated for use. In the rare occasions when the OBF needs to spend money we issue paper checks.

2009 Expenses (to date)

  • $(520.00) : Reimburse Jason S. for two BOSC 2008 Student Awards ($260/ea) paid via PayPall

2009 Income (to date)

  • $15.17 : Interest earned on business checking account
  • $250.00 : BOSC'2009 Anonymous individual sponsorship donation

January 2009 - Present Expenses

All OBF operating expenses have been donated by 3rd parties:

  • Domain name renewal fees: Donated by C.Dagdigian
  • Server hosting Donated by BioTeam Inc.
  • Server bandwidth Donated by BioTeam Inc.
  • Delaware Registered Agent Fees Donated by C.Dagdigian
  • Legal consultation fees Donated by C.Dagdigian
  • Server hardware/memory Donated by C.Dagdigian
  • Zoneedit.com Outsourced DNS Donated by C.Dagdigian

Future 2009-2010 Expenses

We expect to issue a few checks shortly to cover the following:

  • BOSC'2010 Student Prize awards

Please note that several items on the OBF Board Meeting Agenda relate to significant proposed spending on a total refresh of our server, hosting and IT infrastructure. Items under discussion for purchase sum up to approx. $8,000 USD.