Resolution:Setting Working Capital Reserve Target: Difference between revisions
MLee (WMF) (talk | contribs) Created page with "{{resolution |title = Setting Working Capital Reserve Target |notes = This resolution was approved on June 23, 2022. }} '''Whereas,''' the Wikimedia Foundation maintains reserve funds that it can draw upon if needed in the event of sudden or unexpected cost increases or loss of revenue; and '''Whereas,''' the Audit Committee has reviewed the approaches other non-profit organizations take to setting a target working capital ratio; Now, therefore, it is: '''RESOLVED,..." |
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'''RESOLVED,''' that the Foundation shall target an amount of up to 18 months of expenses for its working capital reserve; |
'''RESOLVED,''' that the Foundation shall target an amount of up to 18 months of expenses for its working capital reserve; |
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'''RESOLVED,''' that the working capital reserve ratio should not fall below a 12 |
'''RESOLVED,''' that the working capital reserve ratio should not fall below a 12-month baseline; |
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'''RESOLVED,''' that the Audit Committee shall review the |
'''RESOLVED,''' that the Audit Committee shall review the Foundation's working capital reserve ratio at least once per year; and |
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'''RESOLVED,''' that the Board shall review the reserve ratio and target at least once every three years. |
'''RESOLVED,''' that the Board shall review the reserve ratio and target at least once every three years. |
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Revision as of 22:02, 17 October 2023
 | This proposal has been approved by the Wikimedia Foundation Board of Trustees. It may not be circumvented, eroded, or ignored by Wikimedia Foundation officers or staff nor local policies of any Wikimedia project. Please note that in the event of any differences in meaning or interpretation between the original English version of this content and a translation, the original English version takes precedence. |
| ←Resolutions | Setting Working Capital Reserve Target | Feedback?→ |
| This resolution was approved on June 23, 2022. |
Whereas, the Wikimedia Foundation maintains reserve funds that it can draw upon if needed in the event of sudden or unexpected cost increases or loss of revenue; and
Whereas, the Audit Committee has reviewed the approaches other non-profit organizations take to setting a target working capital ratio;
Now, therefore, it is:
RESOLVED, that the Foundation shall target an amount of up to 18 months of expenses for its working capital reserve;
RESOLVED, that the working capital reserve ratio should not fall below a 12-month baseline;
RESOLVED, that the Audit Committee shall review the Foundation's working capital reserve ratio at least once per year; and
RESOLVED, that the Board shall review the reserve ratio and target at least once every three years.
- Approve
- Nataliia Tymkiv (Chair), Esra'a Al Shafei (Vice Chair), Shani Evenstein Sigalov (Vice Chair), Luis Bitenourt-Emilio, Tanya Capuano, Victoria Doronina, Dariusz Jemielniak, Lorenzo Losa, Raju Narisetti, Rosie Stephenson-Goodknight
- Not present
- Jimmy Wales