CFOG's PIP, March 1989, Volume 8 No. 1, Whole No. 69, page 3

CFOG Financial Report

The following financial reports from the Treasurer cover the year 1988. Not shown on this report is the final issue of PIP, the cost of which was around $300.00, including printing and postage. Therefore, our net cash flow for the year was about $350.

The balance sheet must be taken with a grain (or mountain) of salt. The value of the equipment is undoubtedly considerably less than indicated: no depreciation has been taken for 1988. The two Osborne 1s are at this point worth very little. The Executives are probably not worth more than $150 each. The variety of hard drives we have -- all but the new 80 Mb Seagate (not included on the list below) are old and well used -- are probably not worth more than $800. We do have the Konica/WestWind 11 Mb floppy drive, probably not worth more than $500 simply because there is not a large market for it. The modems we have may be guess-timated as worth, in the aggregate, perhaps $400. That's a total of about $6,000 in equipment. The fair market value of the equipment does not, of course, have any effect on its utility. [At the January 16th CFOG Board meeting a timid soul inquired whether we should consider upgrading the RCPM equipment. The general response was to inquire what could possibly be considered an upgrade. The system is very fast and responsive now that it has NZCOM installed and the hard disk system has been reformatted and optimized. The current system software is flexible and powerful -- more so than any MS-DOS system would be. The message system, while it has its limitations (most notably lack of word wrap), also has great strengths in terms of search capability and (notable for the Sysop, a beast we must put up with if we want to have an RCPM!) powerful maintenance tools that make the Sysop's life easier. If you don't have a modem, you ought to seriously consider getting one: the information exchange on the Antelope Freeway Remote Access System is enlightening and interesting, and there is an abundance of new software for CP/M and MS-DOS users.]

Income Statement:             01-01-88 to 12-31-88
  Membership Revenues                    $3,510.75
  FOG $6 Rebate Income                      136.00
  Other Income (Bank Interest)               18.43
                                         ---------
  Total Income                           $3,665.18
                                         =========

Expenses:
  PIP-Newsletter Printing & Postage      $1,737.47
  Meetings                                  135.93
  New Membership Related Costs              169.94
  Disk Library-RCPM & Copying Expenses      845.18
  Asset Depreciation (done 12/31)              .00
  Other Expenses                            106.74
                                         ---------
  Total Cash Expenses                    $2,995.26
                                         =========
Income for Year                          $  669.92
                                         =========

Balance Sheet:
  Assets
  Cash                                   $1,087.39
  2 - Osborne 1's                           300.00
  2 - Osborne 2 exec                        600.00
  Hard Drives                             3,442.85
  Televideo Equipment                     1,646.17
  design one                                530.00
 1200 baud modems                           338.25
 2400 baud modems                           450.00
                                         ---------
    Total Assets                         $8,394.66
                                         =========
  Liabilities
    Compumat Advertising Credit        (    210.00)
                                         ---------
    Net Assets                           $8,184.66
                                         =========
Capital:
  Prior Period Retained Earnings       ( $7,514.74)
                                         ---------
  Current Period Income (Loss)             $669.92
                                         =========