On request of the Board, I am getting back to you to share with you the result of several months’ work with the APEEE employees, namely Mr Eric Rega and Mr Eric Piettre, respectively accountant and director of the APEEE.
Thanks to their work, and I would like to thank them hereby, we have succeeded in digitizing the processing of invoices and payments, thus reducing the risk of error and, above all, allowing us to produce new reporting far more quickly in order to pilot the APEEE activity from a financial point of view.
Here is the reporting that we wish to share with you today and that we will continue to share every term to provide you with greater visibility on the APEEE finances.
We have structured the reporting according to the three strategic axes of our association: services, pedagogy, and community (the last two are still under development). All shared costs of the association such as accounting, communication, general administration have been grouped under “General Affairs” and allocate a “management fee” to each of the services.
This reporting is not the official result as validated by the auditors that will be presented to you at the Annual General Meeting on January 25, 2021 but it gives a good indication of each service performance. As you can see, this year has been quite difficult with a very negative result (-319K€) from an accounting point of view compared to the planned result (-60K€). This negative result is mainly due to an accrual for charges (316K€) which relates to a disagreement with the PMO (PayMaster Office) concerning the transport invoicing for the years 2012 to 2018. We are confident that we will succeed in reducing this amount by working with the PMO on the verification of all invoices for this period.
The administrative board and I remain at your disposal to answer your questions.