2024: Financial Review
Treasurer’s Report
The balance sheet, income statements and auditor’s report presented in this Financial Review are a summary of the 2024 Financial Report, which has been approved in its detailed form by the DAISY Consortium Finance Committee.
The Consortium finished the year with a deficit of 147.000 thousand dollars. Additionally, it was decided to combine the strategic and capital reserve accounts into one reserve account.
Our major sources of income have continued to be split between membership and other sources. The team continued to work towards securing additional income for funded projects as well as deliver tools and standards for members.
While the deficit balance is not ideal, DAISY has the reserves for continued operations, and the team has taken positive steps to increase income from memberships as well as other sources.
Alice O’Reilly
DAISY Consortium Treasurer
Independent Auditor’s Report
Report of the statutory auditors to the General Meeting of the DAISY Consortium
As statutory auditors, we have audited the accounting records and the financial statements (balance sheet and income statement) of the DAISY Consortium for the year ended December 31st, 2024.
These financial statements are the responsibility of the board of management. Our responsibility is to express an opinion on these financial statements based on our audit. We confirm that we meet the legal requirements concerning professional qualification and independence.
Our audit was conducted in accordance with auditing standards promulgated by the Swiss profession, which require that an audit be planned and performed to obtain reasonable assurance about whether the financial statements are free from material misstatement.
We have examined on a test basis evidence supporting the amounts and disclosures in the financial statements. We have also assessed the accounting principles used, significant estimates made and the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the accounting records and financial statements comply with Swiss law and the company’s articles of association.
We recommend that the financial statements submitted to you be approved.
Zurich, March 31, 2025
BETSCHON TREUHAND AG
Christian Schmid
Auditor in Charge
Information on the principles applied in the financial statements
The financial statements are made under the provisions of the Swiss Accounting legislation, (Title 32 of the Code of Obligations OR) in particular the article on the account books and accounting of Swiss Accounting law (OR Art. 957-962).
Balance sheet and income statement are made in USD.
Balance Sheet as at 31st December 2024
| ITEM | 2024 | 2023 |
| ASSETS | ||
| Bank | 393 | 527 |
| Accounts receivable | 61 | 133 |
| Accrued income | -7 | -23 |
| Current Assets | 447 | 636 |
| Capital assets | 0 | 0 |
| Fixed assets | 0 | 0 |
| TOTAL ASSETS | 447 | 636 |
| LIABILITIES | ||
| Accounts Payable | 16 | 12 |
| Accruals | 11 | 56 |
| LIABILITIES | 27 | 69 |
| Capital reserve | 567 | 478 |
| Strategic reserve | -147 | 89 |
| Equity | 420 | 568 |
| TOTAL LIABILITIES | 447 | 636 |
Operating Income and Expense 2024 – Summary
| ITEM | 2024 | 2023 |
| INCOME | ||
| Full members | 561 | 548 |
| Associate members | 73 | 69 |
| Friends | 101 | 77 |
| Total membership Fees | 735 | 694 |
| Technical Training and Capacity Building | 127 | 219 |
| Tools and Standards | 160 | 320 |
| Other Projects and Miscellaneous | 93 | 89 |
| Earned Interest | 6 | 0 |
| Total Additional Income | 386 | 628 |
| TOTAL INCOME | 1,121 | 1,321 |
| EXPENSE | ||
| People costs | 1,033 | 982 |
| Administrative costs | 27 | 30 |
| Other costs | 76 | 26 |
| Standards | 3 | 3 |
| Tools | 75 | 114 |
| Technical training and support | 4 | 20 |
| Communication, marketing, fundraising | 36 | 33 |
| Organization structure and administration | 14 | 23 |
| TOTAL EXPENSE | 1,268 | 1,232 |
| BALANCE | -147 | 89 |
Next: Your DAISY Consortium Board
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