CZ:Financial report/Sanger notes

Dear Citizens,

Here are some fairly informal notes concerning Citizendium finances from September 2011 through January 2012.

In August 2011 I agreed to serve as CZ's treasurer, because there were no other volunteers. Hayford Peirce has agreed to become the new CZ treasurer, so let me take this opportunity to thank him and explain what has happened on my watch.

Milton Beychok sent me a check for $630.12, which I deposited Sept. 19, and which at the time was the total amount of Citizendium funds. I set up a Paypal account to be able to receive donations. At the time, I was going create a separate bank account for CZ funds, and to transfer the Paypal donations into that bank account. But I never did that. I simply left all CZ funds untouched in the Paypal account. I neither made any withdrawals or any payments from the Paypal account. All funds deposited to CZ in that account (minus Paypal's small processing charge) are still there.

I deposited the $630.12 check into my personal checking account, and I used that same account to pay $319.90 monthly to Steadfast for five months, from Sept. 26 through Jan. 20. Steadfast automatically charged my account monthly. This means that my total contribution for those months to the CZ fund is $969.38:


 * $319.90 x 5
 * - $630.12
 * = $969.38

I am not asking to be reimbursed for these payments; it is my donation to the project. However, I believe I pledged to contribute $200 per month until CZ was "out of the woods." Although CZ's balance is now $2,073.55 as I write this and that is more than when I started, I'm not sure we're entirely out of the woods. So after transferring the Paypal balance to Hayford Peirce's new CZ Paypal account, I'll be making an addition contribution so that my total contribution for September through January is $1,000. I hope this can be considered my "penance" for failing to make regular monthly updates to the financial report page.

Thanks for your patience during these months. I'm sure Hayford will do a better job than I did.

Regards, Larry Sanger 20:08, 22 January 2012 (UTC)