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SIOP Financial Update

The following information is presented for the benefit of SIOP members to provide a general overview of SIOP’s budget and financial picture.

The pie charts below reflect SIOP’s income and expenditures for Fiscal Year 07-08 for the period ended June 30, 2008.  Total income for the past year was $1,612.048 with total expenditures of $1,793.478.  The net loss for FY07-08 was <$181,430>.  A large portion of the net loss is attributable to the unrealized losses of our investments.
   

 

 

 

 

Our budget for FY08-09 with period beginning on July 1, 2008 has $1,828,942 of projected income and $1,864,508 of projected expenses.  We are therefore projecting a deficit of <$35,566>.  In past years, when the budget was presented the realized gain account of 4805 was used to “balance the budget”.  This year’s budget is strictly based on projected program income and projected program expenditure.  The FY08-09 budget does not take into account the unrealized gains/(losses) that will be made to our investments when they are adjusted to market value.  Anyone with further questions about SIOP’s budget or finances should bee free to contact me at any time. 
 
Mort McPhail (mmcphail@valtera.com)
SIOP Financial Officer/Secretary