[Foundation-l] Re: Finances

[Delirium]

Anthere wrote:

>> I believe it is important to get a set accounts drawn
>> including a balance sheet and statement of income and
>> expenditure.  Then have them audited by a chartered
>> accountant.  Because often when applying for grants
>> they will request an audited set of accounts.
>>
>> Richard (aka Popsracer)
>
>
> Might you explain what you are thinking of, when you mention "a 
> chartered accountant" ?

I think this means simply an accountant who is legally qualified to act 
as an accountant.  Usually this is a "certified public accountant (CPA)" 
in the US, although there may be some special license for non-profits.  
Since we're chartered in Florida, someone with credentials to operate 
under Florida law is probably best.  Basically, it's someone who has 
taken a set of tests and gotten a license that allows them to legally 
say "I have audited these accounts, and they are correct".  Due 
especially to some relatively recent scandals, both in non-profits and 
in corporations, a lot of grant agencies in the US require officially 
audited account books these days, and that usually has to be done by an 
outside auditor (i.e. someone not affiliated with the organization, so a 
Wikipedian who is also an accountant wouldn't qualify) to make sure the 
money is being spent where the organization says it's being spent.

I think even if we did this, we'd still keep the books ourselves, and 
just submit them once per year to an outside auditor for a stamp of 
approval.  I have no idea how much paying such a person would cost.

-Mark