Grex Oldcoop Conference

Item 9: Cyberspace Communications finances for July 2003

Entered by aruba on Fri Aug 1 04:27:22 2003:

Here is the treasurer's report on Cyberspace Communications, Inc. finances 
through July 31st, 2003.

Beginning Balance     $4,427.06

Credits                 $552.00         Member contributions
                         $71.24         Proceeds from the 7th Grex auction
                         $20.00         Sale of two old Sun chassis
                          $1.57         Interest on our savings account
                   ------------
                        $644.81

Debits                   $80.41         Pumpkin Rent for August
                         $45.97         Electricity for July
                        $158.23         Phone Bill
                        $135.00         DSL July 15 through August 15
                          $3.11         Paypal fees (income = $66)
                         $58.00         Summer personal property taxes
                   ------------
                        $480.72

Ending Balance        $4,591.15

Our current balance breaks down as follows:

$4,354.61               General Fund
  $153.99               Silly Hat Fund
   $60.00               Spare Parts Fund
   $22.55               Infrastructure Fund

The money is distributed like this:

$1,228.66   Checking account
$3,362.49   Savings account earning approximately 0.75% interest annually

We had two new members in July (gorg and lhbunkie).  We are currently 
at 80 members, 74 of whom are paid through at least August 15th.  (The 
others expired recently and are in a grace period.)

Notes:

- Grex pays personal property taxes on the equipment it owns.  This 
year the taxes come to around $80.  Some gets paid in the winter, but 
the majority gets paid in the summer.

Thanks to everyone who contributed in July:

bookie, charcat, cmcgee, fuzzball, gelinas, gorg, jmm, kip, lhbunkie, 
mdw, noknown, phines, remmers, and wh.

If you or your institution would like to become a member of Grex, it only
costs $6/month or $60/year.  Send money to:

Cyberspace Communications
P. O. Box 4432
Ann Arbor, MI 48106-4432

If you pay by cash or money order, please include a photocopy of some form of
ID.  I can't add you to the rolls without ID.  (If you pay with a personal
check that has your name pre-printed on it, we consider that a good enough
ID.)  Type !support or see http://www.cyberspace.org/member.html for more
info.
33 responses total.
#1 of 33 by aruba on Tue Aug 5 18:39:03 2003:

Looks like the interest rate on our savings account has dropped again.  It's
now at 0.65% annually.  Boy, does that suck.  If I had some more time, I
would go around to all the banks again and see if anyone has a better rate.
Does anyone feel like doing that?

#2 of 33 by cross on Tue Aug 5 20:46:45 2003:

Yeah, that does suck.  What about a CD for some of the money?

#3 of 33 by gelinas on Tue Aug 5 21:10:39 2003:

In the past, they have been more trouble than their worth, for the amounts
we have available, and the interest is in the 2% range right now.

#4 of 33 by cross on Tue Aug 5 23:23:54 2003:

Hmm; how about a money market account, or investing some of it in a mutual
fund, if the front end load isn't too much?

#5 of 33 by aruba on Wed Aug 6 00:04:18 2003:

My opinion is that it isn't appropriate for Grex to take chances with the
money, and that rules out mutual funds.  I sort of feel the same about money
markets, but maybe could be talked into changing my mind.

#6 of 33 by i on Wed Aug 6 01:53:18 2003:

Based on what i've seen of interest rates these days, grex could get a
lot more money by renting you out as minimum-wage checkbook balancer for
the hours that you'd spend searching for a few more basis points of yield
on our modest savings.

In other words, you're already doing plenty for grex, and this it ain't
worth your time to bother with.

#7 of 33 by other on Wed Aug 6 02:32:11 2003:

Based on past experiences with similar attempts, I strongly support 
Walter's conclusion in #6.

#8 of 33 by scott on Wed Aug 6 02:45:40 2003:

Ditto.

#9 of 33 by aruba on Wed Aug 6 03:14:56 2003:

Yeah, I tend to agree.  I realize now that #5 may have sounded a little
heavy-handed.  It's not up to me to decide where Grex puts its money, so if
the board and membership think it would be a good idea to put our money in
a mutual fund or money market, that's what we'll do.  I just don't think
it's appropriate.

#10 of 33 by gelinas on Wed Aug 6 03:16:37 2003:

I don't think it's appropriate either, for what this worth.

#11 of 33 by cmcgee on Wed Aug 6 11:22:02 2003:

I don't think Mark should spend more time looking for better rates.  I don't
think Grex should place its money in accounts that are not risk-free.  Didn't
we have a member vote a couple years ago making this a policy?

#12 of 33 by i on Wed Aug 6 11:52:42 2003:

Re: #9
It's your job to research & recommend on such things *as appropriate to
grex's situation*.  If someone gives grex $10 million, it would then be
appropriate to consider risk-vs.-reward for fractions of a percent of
interest & such trivia.  Anyone got $10 million to let us get into this
cool subject further?  Please?

#13 of 33 by mary on Wed Aug 6 12:53:38 2003:

Mark, your opinion is *always* welcome.

I totally agree with #6.  Interest rates have tanked
and it would be a total waste of time to put much 
effort into changing things at this point.

#14 of 33 by aruba on Wed Aug 6 15:48:07 2003:

I just didn't want it to sound like I was dismissing cross's suggestion out
of hand.

Re #11: I don't remember the membership voting on savings accounts.  I think
the board must have voted to authorize the savings account, but I don't
remember what the motion said.

#15 of 33 by cross on Wed Aug 6 16:08:23 2003:

That's fine.  Everyone's probably right; it's not worth Mark's time.

#16 of 33 by jep on Fri Aug 8 22:25:53 2003:

I expect Mark to decide what's worth Mark's time.  Should Mark place 
his time at my disposal, he can be sure of getting some very different 
decisions about how he is to spend it, but I don't advise him to do 
that.

Checking out bank accounts sure isn't worth *my* time, and won't be 
worth Mark's time when I take charge of his life.

#17 of 33 by cross on Fri Aug 8 22:45:29 2003:

Oh, come off it.

#18 of 33 by carson on Sat Aug 9 02:02:04 2003:

(is aruba up for auction?  I bid five dollars!)

#19 of 33 by cmcgee on Sat Aug 9 13:59:27 2003:

I bid $10 on cross.

#20 of 33 by cross on Sat Aug 9 14:44:11 2003:

Woo hoo!  Err, to do what?

#21 of 33 by mary on Sat Aug 9 14:52:52 2003:

Stop breathing.

(Just kiddin)

#22 of 33 by mary on Sat Aug 9 14:54:37 2003:

$15.00

#23 of 33 by davel on Sat Aug 9 16:25:03 2003:

On which of them?

#24 of 33 by cross on Sat Aug 9 18:31:57 2003:

Aha!  Hah ha ha.  Err, hmm.

#25 of 33 by cmcgee on Sat Aug 9 19:32:12 2003:

Mary, I bid $20 for your husband's talents.  At least you could counter my
bid for cross at an equal value.

#26 of 33 by mynxcat on Thu Aug 14 17:21:22 2003:

I'd bid $25.00 on cross, and that is NOT my final offer

#27 of 33 by cross on Mon Aug 18 20:51:40 2003:

Is that to stop breathing?  If not, woo hoo!

#28 of 33 by mynxcat on Mon Aug 18 21:20:05 2003:

No, you can breathe all you want

#29 of 33 by naftee on Sat Sep 6 20:32:33 2003:

grex should donate some money to m-net

#30 of 33 by dah on Sat Sep 6 22:00:18 2003:

I agree.

#31 of 33 by nharmon on Wed Nov 30 21:53:34 2005:

Grex should open a virtual casino.

...NOT

#32 of 33 by naftee on Wed Nov 30 23:44:44 2005:

nate should go sleep with his wife.

...YES

#33 of 33 by jesuit on Wed May 17 02:14:19 2006:

TROGG IS DAVID BLAINE

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