2018 CFC financial report

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06-04-2018, 11:20 AM
Egidijus Zeromskis

2018 CFC financial report

The draft was posted at http://www.chesscanada.info/forum/sh...8827#post28827

It strikes me that the newsletters funding dropped significantly over the years. Seems that it is the lowest priority in the management too - it's late and very irregular.

2018 - 5535
2017 - 8608
2016 - 15240
2015 - 11530
2014 - 16135
2013 - 18220
2012 - 18530
2011 - 18000
2010 - 7550
2009 - 3486
2008 - 36885

Also after the non-for-profit transformation, who is responsible for the budget the next year? Even the approval/audit of the previous one?
06-04-2018, 11:51 PM
Vladimir Drkulec

Newsletter funding is related to the number of issues published. No issue, no funding.

We don't do budgets aside from the youth budget.
06-09-2018, 04:10 PM
Gordon Ritchie

Seriously. "We don't do budgets..." Please tell me this is a joke.
06-09-2018, 07:59 PM
Fred McKim

Quote:

Originally Posted by Gordon Ritchie

Seriously. "We don't do budgets..." Please tell me this is a joke.

The Revenue Statements are quite similar from year to year. We essentially break even. There is very little discretionary spending. Some of our recent discretionary funds have come because the budgeted amount for the newsletter & newsfeed ($18000) have not been spent in their entirety.
06-10-2018, 10:30 AM
Christopher Mallon

Should start tucking that money away towards a new web site :)
06-10-2018, 01:42 PM
Fred McKim

Quote:

Originally Posted by Christopher Mallon

Should start tucking that money away towards a new web site :)

I suspect our first move would be to move toward a Membership platform site like GoMembership or something similar.
06-11-2018, 09:45 AM
Vladimir Drkulec

Quote:

Originally Posted by Gordon Ritchie

Seriously. "We don't do budgets..." Please tell me this is a joke.

It is not a joke. When budgets are done it seems to me they include additional, unnecessary and unsustainable spending. They are never accurate as there are always cost overruns. As Fred noted the spending tends to be the same from year to year so if people were to insist on a budget we would simply give last year's financial statement as next year's budget.

We have done youth budgets and had things like a hurricane closing a Florida airport necessitating spending quite a bit more than expected on plane tickets for our coaches flights because that was where their connecting flight landed on the way to CYCC.

One of my biggest frustrations is how long it takes to get an accurate picture of our financial situation. When we present our financial numbers to the voting members it is usually just a day or so and sometimes only an hour or two after we have received it. Hopefully we can reduce the load by automating some of the membership functions. A large part of my time (and the rest of the executive as well) is saying no to people who want to spend money.
06-11-2018, 09:47 AM
Vladimir Drkulec

Quote:

Originally Posted by Christopher Mallon

Should start tucking that money away towards a new web site :)

A new website should be doable for about $5000 based on a slight bump from when I last costed it out a few years ago. The problem is that now is never a good time to start a project like that.
06-11-2018, 10:22 PM
Pierre Dénommée

Quote:

Originally Posted by Vladimir Drkulec

A new website should be doable for about $5000 based on a slight bump from when I last costed it out a few years ago. The problem is that now is never a good time to start a project like that.

Please specify clearly what is a web site. Does it need to contain a new rating software, a new membership software?
06-11-2018, 11:06 PM
Vladimir Drkulec

Quote:

Originally Posted by Pierre Dénommée

Please specify clearly what is a web site. Does it need to contain a new rating software, a new membership software?

The rating software needs updating. I don't think that should be a very massive task. Membership software will probably be GoMembership or something like it.