Financial Transparency- opening up the Jeder Financial Reports to the membership
We discussed the idea of opening the Jeder Institute financial reports to our members. The Bored have been wanting to do this for sometime but have never got there.
The Bored receive a monthly financial report from TCOB that includes all relevant financial reporting (i.e. Balance Sheet, Profit and Loss, Admin Class Monitoring, trends and ratio's etc).
A few polls will follow to allow us to understand what would be helpful for you.
Margaret HenvilleThu 21 Oct 2021 8:16AM
A Snap Shot sent to all and a Full Report available online for those who would like it might be helpful.
Kaeleen HunterThu 21 Oct 2021 8:16AM
I think full report because theres all the info is available tho maybe a snapshot could be available for those who dont want to dive deep??
Full Report or Snap Shot
poll by Jason Emmins Closed Fri 29 Oct 2021 6:04AM
Thanks to everyone that voted (39%).
Of those that voted, 78% would like a snap shot and 21% a full report. Based on these results, a snap shot financial report will be presented to the Dollars Jedi.
I will present the outcome to the Dollars Jedi.
TCOB provide the Board a detailed Monthly Report including:
Detailed Profit/Loss for the whole organisation.
Summary of Profit/Loss for whole organisation.
Admin Class Profit and Loss.
Balance Sheet for whole organisation
Detailed Balance Sheet for whole organisation.
Accounts Receivable
Accounts Payable.
Graphs on Top Revenue Contributors (i.e. Cobu, NDIS, Together Home, other income), Revenue and Net Operating Profit, Balance Sheet Components, Equity Trends, and Current Ratio Trends.
Results
| Results | Option | % of points | Voters | |||
|---|---|---|---|---|---|---|
| Snap Shot | 78 | 18 |       | |||
| Full Report | 22 | 5 |   | |||
| Undecided | 32 |               |
23 of 55 votes cast (41% participation)
YvonneThu 21 Oct 2021 8:09AM
I think monthly is too frequent and things change month by month, so perhaps 6 monthly is a compromise.
Tess PollardThu 21 Oct 2021 8:09AM
Thanks for the post Jason. I think monthly or even quarterly would be over kill, while six monthly updates would be helpful to see how we’re tracking, and perhaps provide motivation.
Frequency of Financial Reports to Membership
poll by Jason Emmins Closed Fri 29 Oct 2021 6:04AM
Thanks to everyone that voted (37%).
The results returned that 54% would like a financial snap shot 6 monthly, 30% quarterly, 8% monthly and 8% annually. Based on these results a 6 monthly financial snap shot will be presented to the Dollars Jedi.
I will share the outcome with the Dollars Jedi.
How often would you like to receive information regarding Jeder's financial reports? The Bored receive a monthly report from TCOB (Finance)
Results
| Results | Option | % of points | Voters | |||
|---|---|---|---|---|---|---|
| Six Monthly | 52 | 12 | | |||
| Quarterly | 30 | 7 | | |||
| Monthly | 9 | 2 | | |||
| Annually | 9 | 2 | | |||
| Undecided | 33 | |
22 of 55 votes cast (40% participation)