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Financial Report Summary of the XX Board: Revenues, Expenses, and Future Prospects

This financial report details the fiscal performance of the XX Board, highlighting total revenues of €201,595.36, thanks to a dedicated finance team and new partnerships. Expenses totaled €118,165.78, showing efficient budget management with a surplus of €82,429.58. Savings have grown significantly, surpassing the annual budget for the first time, indicating positive financial health. The report looks ahead to future resource allocation, addressing options for benefiting community support organizations, marketing efforts, and the board's strategic focus.

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Financial Report Summary of the XX Board: Revenues, Expenses, and Future Prospects

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  1. 602-P-BRD-502 Financial Report of the XX Board

  2. Financial Report of the XX Board Revenues Expenses Surplus Available cash and savings Look into the future

  3. Revenues Appendix 3: details of revenues Total revenues of € 201.595,36 Thanks to efforts of finTeam Increased # of Partners New partnership fees Increased support to GM organisers Approval EC Grant

  4. Expenses Appendix 2: Statement of Activities Appendix 4:Details of expenses Total expenses of € 118.165,78 Budgeted: € 59.785,13 Extra: € 58.380,65 Budgeted expenses versus Budget: 85% Company trips: € 4.701,72

  5. Surplus Appendix 2: Statement of Activities Change in net assets € 82.429,58 Unrestricted: € 68.099,58 Temporarily restricted: € 15.330,00 Are we still non-profit? Result from late known revenues

  6. Available cash and savings Available cash left to the XXI Board: € 10.000 Savings As of 30th June 2007: 55.529,01 As of 30th June 2008: 95.442,78 For the first time, savings exceed the annual budget

  7. Look into the future A large surplus is to be expected again We need to evaluate the most beneficial way for BEST to spend its resources Support for LBGs that organise Internal Events? Free annual reports or other marketing materials? A house?

  8. What do I want you to remember? Revenues of € 200.000 Expenses of € 120.000 Surplus of € 80.000 Unrestricted: € 68.000 Savings increased from € 55.000 to 95.000 We need to think on how to focus our resources

  9. Questions?

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