[Foundation-l] [Announcement] Release of financial statements 2006-2007
anthere at anthere.org
Fri Feb 8 08:52:27 UTC 2008
Although a bit later than we would have originally liked, I'm pleased to
announce that the Wikimedia Foundation Board of Trustees has approved
the Foundation's 2006/2007 financial statements.
The financial statements are now posted on the WMF wiki at:
http://wikimediafoundation.org/wiki/Finance_report. Direct link:
The financial statements were approved following the Audit Committee's
careful consideration and review of the auditor's report and the
Foundation's own records. We bring in auditors to do an analysis of the
Foundation's financial health - which includes considerable scrutiny of
our expenses and revenues, as well as the Foundation's overall
administration and processes.
"Why the delay?" you might ask. We had originally hoped to post the
statements a few months earlier, but more time was needed at the
Foundation level to review finances and work with our Florida-based
And why did we need more time? It’s fairly normal for audits to take
longer to complete than was initially predicted. The Foundation’s
projects (and their popularity) grew significantly over the past year,
which meant that spending (number of transactions) increased. That means
there was more work to be done. Also, there had been some turnover in
Foundation staff (e.g., the accountant), which resulted in some loss of
institutional memory that made it harder to do the audit preparation. So
it isn’t really all that surprising that the audit was fairly
time-consuming. It's complete, and that's what matters.
To that end, the Board would like to recognize the hard work of both the
Foundation staff who spent many hours supporting the campaign, and
helping to concurrently move the offices and analyze our books, Oleta
McHenry and Mona Venkateswaran. I'll would like to give a special thank
you note to Oleta, for the endless hours spent on the books. Mona
particularly helped strengthen (she would probably say set up...) our
financial procedures and controls. I'd also like to personally thank our
Audit Committee for their energies and efforts. This review overall was
no small task - we want to thank everyone involved in getting us through
to this stage.
With this audit under out belt, we have an exciting year ahead of us,
and much to look forward to. There are new projects under discussion,
new research is under way (the UNU-Merit study is a fine example), new
staff have joined the Foundation, there is a new headquarters in the
heart of the silicon valley, and of course the ever-expanding growth of
all of the Foundation's projects and their respective readership.
On behalf of the Board I'd like to thank you for your patience in
waiting for these results. I think you'll agree that it was worth the
time to make sure we were in good shape.
Thanks for your time,
Florence Devouard, Chair Wikimedia Foundation
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