Thomas Dalton wrote:
On 11/02/2008, Anthony wikimail@inbox.org wrote:
On Feb 11, 2008 4:06 PM, Thomas Dalton thomas.dalton@gmail.com wrote:
On 11/02/2008, Anthony wikimail@inbox.org wrote:
I don't have a problem with the statement. I have a problem with someone voting to approve a statement that they don't understand.
Acknowledging that something is misleading is not the same as not understanding it.
No, it isn't. But I've applied Hanlon's razor here.
I don't see how anything Ant has done was either stupid or malicious...
The whole point of the financial statements is to clearly present the facts.
To people with a decent amount of financial knowledge, yes. To an accountant, it probably makes perfect sense to group certain things together, and that's why they do it. It clearly makes no sense to me, you or Ant, but we're not really the intended audience - that's why people employ accountants and brokers in order to deal with the details that they don't have the training to understand.
Precisely. The FS on the audit document are presented with an accounting perspective. Not for the general audience. Their most important message is:
"In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Wikimedia Foundation, Inc. as of June 30, 2007 and 2006, and the changes in its net assets and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America. "
The goal of an audit is not to provide breakdowns of each line. I know, and I regret that you were not provided with detailed breakdown or a budget during year 2006-2007. The fact that I regret the public was not provided this breakdown is totally irrelevant to the audit itself and does not preclude I mistakenly approved the audit.
Now, situation is changing and improving. In fall, Sue already provided the board with a more detailed budget, and provided a public first shot estimate of our expenses, with http://wikimediafoundation.org/wiki/Planned_Spending_Distribution_2007-2008
Also, we have just announced the hiring of our new Chief Financial and Operating Officer (CFOO), and we are providing the necessary personnel support to manage all of our expenses, donations, and overall budgetary activity. Through 2008, more detailed administrative and cost management policies will be put into place as well, further improving our accountability to donors, Board, and to the entire volunteer and user community.
Does that clarify things ?
ant