Hi Michael,
Restricted cash is required to secure a standby letter of credit as a
result of the execution of the Foundation’s new office lease that commenced
on October 1, 2017. Rather than requiring a security deposit payment the
building management company requires an issuance of the standby letter of
credit which is held at the Foundation's bank account.
This is also mentioned in footnote (f) of the Independent Auditors' Report.
Also the links seem to work fine. Thanks
Best,
Tony
On Mon, Dec 11, 2017 at 4:46 PM, Michael Peel <email(a)mikepeel.net> wrote:
Working links (hopefully):
https://wikimediafoundation.org/wiki/Financial_reports <
https://wikimediafoundation.org/wiki/Financial_reports>
https://meta.wikimedia.org/wiki/Wikimedia_Foundation_
reports/Financial/Audits/2016-2017_-_frequently_asked_questions <
https://meta.wikimedia.org/wiki/Wikimedia_Foundation_
reports/Financial/Audits/2016-2017_-_frequently_asked_questions>
And a direct link to the report:
https://upload.wikimedia.org/wikipedia/foundation/d/da/
Wikimedia_Foundation_Audit_Report_-_FY16-17.pdf <
https://upload.wikimedia.org/wikipedia/foundation/d/da/
Wikimedia_Foundation_Audit_Report_-_FY16-17.pdf>
And a question: what’s with the $840k of restricted cash, compared to $0
last year?
Thanks,
Mike
On 11 Dec 2017, at 22:31, Jaime Villagomez
<jvillagomez(a)wikimedia.org>
wrote:
Hello everyone,
The Independent Auditors’ Report of the Wikimedia Foundation for the
fiscal
year ending 30 June 2017 is now available at:
http://wikimediafoundation.
org/wiki/Financial_reports
We have also posted on Meta-Wiki answers to frequently asked questions
(“FAQ”) about the Independent Auditors’ Report:
https://meta.wikimedia.org/
wiki/Wikimedia_Foundation_reports/Financial/Audits/2016-
2017_-_frequently_asked_questions
The audit is conducted annually by an independent third-party audit firm
(KPMG) as a part of our financial oversight, and provides an overview of
basic information about the organization's financial position and its
financial activities. This Independent Auditors’ Report has been approved
by the Wikimedia Foundation Audit Committee -- a board subcommittee --
and
presented to the Wikimedia Foundation Board of
Trustees for their review.
Please contact us via email if you have any questions.
Saludos,
Jaime Villagomez
*Chief Financial Officer *
*Wikimedia Foundation*
*1 Montgomery Street*
*San Francisco, CA 94105*
*415.839.6885 ext 6628 <415.839.6885%20%C2%A0ext%206628>*
*Imagine a world in which every single human being can freely share in
the
sum of all knowledge. That's our
commitment.Donate.
<https://donate.wikimedia.org/>*
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