MSU Financial Statements as of October 31st 2009 - MacInsiders - Student-run McMaster University Help Forum

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MSU Financial Statements as of October 31st 2009

WARNING. IT IS NOT PRETTY!

Much kudos goes out to SRA Engineering Matt Wright for releasing this information. Apparently the MSU VP Finance felt it prudent to not follow through on his promises and would rather keep MSU members in the dark.

http://www.mediafire.com/?tjxjzfwemdw

One thing of note: the amortization expenses are not being included month-to-month so the numbers are slightly skewed. While these are decent reports they aren't fully indicative of what the final numbers will be due to various accruals.

micadjems · 12-02-2009 at 09:31 AM

Barf...

sniderj · 12-02-2009 at 10:40 AM

Can you explain to me what your issues are with the numbers presented? I'm not gonna lie, I'm way too lazy to look at this in a lot of detail.

Taunton · 12-02-2009 at 10:58 AM

These number have no context attached to them. Even the professionals working in the office every day wouldn't necessarily be able to comment much on these numbers simply because there is no context. The history behind the current numbers would need to be looked up. It's not that they're meaningless, but once you know the story behind them, it's not all that bad. I spent a good half hour in the office with the VP Finance yesterday looking over the document so I could answer questions now that this document is posted here, and it makes a lot more sense to me now.

Just for people who (like myself) aren't in finance and don't know what they're looking at: the number in brackets are positive, and the numbers without brackets are negative. Also, the "2009-2010 Budget" column is the budgeted end-of-year number that is supposed to be reached by the end of April. The YTD-OCT column is a snapshot of the numbers as they stood at that time. Without context nobody knows what was spent where, where numbers come from, projected/expected expenses and revenues, etc.

If anyone has any questions regarding any specific lines, I'd be happy to try to answer them to the best of my ability. The other (better) people to contact would be the Finance Commissioner, Dan Bocaccio and the VP Finance, Andrew Caerine.

sniderj · 12-02-2009 at 11:01 AM

Thanks for clarifying that Taunton. I had caught on to revenues being shown as negatives on the statements. I was just waiting for someone to start launching some crap about a 5 million dollar deficit.

Taunton · 12-02-2009 at 11:04 AM

Quote:

Originally Posted by sniderj

Thanks for clarifying that Taunton. I had caught on to revenues being shown as negatives on the statements. I was just waiting for someone to start launch some crap about a 5 million dollar deficit.

When I first looked at it, that's what I thought it was (finances not being my strong suit)... once I went to the office to have it explained to me, it makes a lot more sense to me now.