EFOSA Financial Report 2009/2010

by Claude Bourdillat-Mikol, EFOSA Treasurer

Dear members,

EFOSA financial year runs form April 1st until March 31.

Concerning incomes and expenses I will refer to “Financial statement “Details of financial statement 2009-2010”

BANK ACCOUNTS

EFOSA’s assets are in French Bank called:” Caisse d’Epargne”.

1. Regular bank account

This account is necessary to pay current expenses like:  ESAS, Council and GAM expenses, chartered accountant, web site, bank fees, etc...

On March 31st, 2010, our bank account is 23 299 € 34 (twenty three thousands two hundreds ninety nine  € and thirty four cents

2. Saving account called “Livret A”

This is money that we don’t need immediately;
Same as last year: 10 000 € (ten thousands) + profit on sale of security’s dividends = 10 565 € 37
(Ten thousands five  hundreds sixty five € and thirty seven cents)

3. Saving account with better interests called”Parts Sociales”

Same amount as last year: 10 100 €  ( ten thousands  one hundred €) We do not need money from this account, so it is planned to be saved.

 

EFOSA‘s total assets on March 31st, 2009 were  43 965 €

(Forty three thousands nine hundreds sixty five € ) 

( last year the assets were 31 797 €  ( thirty one thousands seven hundreds ninety seven €

 

COMMENTS TO THE ANNUAL FEES PAYMENT (Income)

The income were 32 888 .70 € (thirty two thousands eight hundreds eighty eight € and seventy cents)

Active members: 21
Affiliate members: 2
Provisional members: 1
Observer: 3
Total: 27

Annual fees should be paid each year before March 31st

For the period 2009/2010: 19 countries paid in due time.

At the end of may 2010 still 6 countries didn't pay the annual fees.

Some countries paid 2009 late and 2010 early, so we have more money this year.

On January, 5th 2010, I received a transfer wire : 395.50 € ( three hundreds ninety five and fifty cents) without any indication.
I couldn’t’ find which country it is !
May I kindly ask the Country delegates to inform and check with their association’s treasurer?

COMMENTS TO EXPENSES

Last year the expenses were 40 760   € forty thousands seventy hundreds sixty €)

               ( remember that  we paid for ESAS at that time)

This year the expenses are significantly lower: 20 721.36 € (twenty thousands seventy hundreds twenty one € and thirty six cents)

The balance income/outcome is plus 12 167 € 34 ( twelve thousands one hundred sixty seven € and thirty four cents)& 

Remember that I said that sspan style="mso-bidi-font-weight:bold">ome countries paid 2009 late and 2010 early, so we have more money this year 

Explanation and Comments:

-       Bank fees are quite the same
-       ESAS we had about 3000 € instead of 23 000 € in 2009
 -       Website : we had also less outcome ( 4000 € instead of 7000 €)
-       We had more Council Members’ expenses because we paid for two years EOS
        Council Meetings, two EFOSA Council Meeting and one GAM meeting
-       We have still nothing to pay for the EFOSA Headlines, thanks to Alejandros
 -       General administrative expenses still the same

COMMENTS TO BUDGET 2009-2010

In our provisional budget 2009 / 2010, the income were difficult to estimate because of the increasing of the fees and because we can’t exactly know the number of orthodontists per country

  

As I said last year, the income increased, due to the new fees and because we have more members in EFOSA.   We expected about 24 000 €  ( twenty four thousands €) 

 

The estimate for the outcomes were about 18 000 € in the budget and we spent about 21000 €

This is due mostly to the increasing of the Council and GAM expenses ( Dr Lars Medin is working hard to promote ESAS!)

We made a new budget for 2010/2011

The income will be nearly the same than 2009
The total amount of expenses will increase a little

In the preliminary budget for 2010/2011, we see that we can save about 5000 €/year.

This will bring us at the same level that we had before ESAS expense: In order to have a safe financial position, we need to have funds based on TWO years expenses as we had before  

In conclusion our financial situation position is healthy, and we expect more and more countries entering EFOSA

Dear colleagues, this is my last year as Treasurer, I want to thank you for your attention  

If you have any questions, please feel free to ask me!

Dr Claude BOURDILLAT-MIKOL

Treasurer