Thread: Event Costs-FIRST accounting
View Single Post
  #11   Spotlight this post!  
Unread 10-06-2014, 18:35
adciv adciv is offline
One Eyed Man
FRC #0836 (RoboBees)
Team Role: Mentor
  
Join Date: Jan 2012
Rookie Year: 2010
Location: Southern Maryland
Posts: 478
adciv is a name known to alladciv is a name known to alladciv is a name known to alladciv is a name known to alladciv is a name known to alladciv is a name known to all
Re: Event Costs-FIRST accounting
Quote:
Originally Posted by sanddrag View Post
One last note on the reason they want to keep $24 million cash on hand. It must provide great interest payments!
Rain Day Fund. Most organizations do need a reserve in case of unforseen issues. In the case of FIRST, this would be a sponsor or three pulling out in a given year. Having no reserve is a sure way to go belly up.
__________________
Quote:
Originally Posted by texarkana View Post
I would not want the task of devising a system that 50,000 very smart people try to outwit.
Reply With Quote