Each year, the Board diligently prepares a comprehensive budget plan for the forthcoming fiscal year. Given that our fiscal year commences in July, we strive to finalise and approve the budgets by June.

In recent years, we experienced financial challenges that depleted our reserves. However, we are pleased to report a return to profitability last year. Despite this positive development, our current sponsorship situation remains suboptimal. Consequently, we have made the decision to approve essential "lights on" costs.

To prevent any misunderstandings, it is important to clarify that "lights on" refers to the essential administrative expenses we currently incur, such as insurance and software, as well as the necessary costs associated with the ongoing development and enhancement of Joomla. The Board firmly believes that investing in Joomla's growth and improvement is a more prudent use of funds than simply holding them in reserve. As such, we have classified all Production Department expenses under the "lights on" category.

We are actively seeking additional sponsorships and funding to bolster our financial position. In the initial phase of budget approval, we have projected an income of $65,000 USD and estimated expenditures of $103,000 USD.

The budget for the fiscal year 2024/25 was approved by the full Board of Directors and Officers of Open Source Matters, Inc. on June 13, 2024, under motion #2024/025, with unanimous consent. This approval reflects our collective commitment to ensuring the continued success and development of Joomla.

The Budget for FY 2024/25 has been approved by the Full Board of Directors and Officers of Open Source Matters, Inc. on June 13, 2024 with motion #2024/025 with unanimous consent.