2016 Budget Update

OTW Finance: 2016 Budget Update

In March this year, the OTW published its first official budget. Since then, our Finance committee has been rebuilt by volunteers who have non-profit and/or accounting backgrounds! They’ve been busy working with other committees to reorganize and rebuild key internal processes for bookkeeping, budgeting, tax filing, and general financial policies.

This improvement is a work in progress for us as an organization, and we’ve already learned a lot since March about how to forecast our expenses and income better. Because of that, we’re publishing an updated version of the 2016 budget that better reflects our current financial situation (download 2016 updated budget spreadsheet).

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Outlines of a man and woman speaking with word bubbles, one of which has the OTW logo and the other which says 'OTW Announcement

OTW Board of Directors Update: 2016 Budget

A lot of work has been done behind the scenes since our last update! Today we bring to you our prospective budget for 2016, as promised. This budget is one of a number of steps we are taking as we continue to work toward a more formal financial setup for the OTW long term, with a particular eye to openness and sustainability.

The below budget was prepared taking into consideration project needs, committee requests and our regular expenses from past year, and covers all expected expenses necessary to keep the org running in 2016. It anticipates fundraising income (including income from drives and other fundraising sources) of US$303,750.00, which is consistent with recent years’ income.
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