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Thread: 2011 CYCC Surplus - Resolution

  1. #1

    Default 2011 CYCC Surplus - Resolution

    The CFC Executive would like to announce a resolution recently reached on the issue of the distribution of surplus funds garnered at the 2011 edition of the CYCC. After negotiation, the agreement is that:

    a) 30% of the $18,200 surplus will be distributed as cash prizes pro rata to the amounts previously announced;

    b) 70% of the $18,200 surplus will be distributed as bursaries to those entrants in the 2011 WYCC who were 1st, 2nd, or 3rd-place finishers at the 2011 CYCC pro rata to the amounts previously announced; and

    c) the remaining balance, should not all 36 qualifiers enter the 2011 WYCC, will go to those qualifiers that do enter the 2011 WYCC pro rata to the amounts they will have previously received.

  2. #2
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    Thumbs up Congratulations on the resolution of this issue. Great news.

    Quote Originally Posted by Michael von Keitz View Post
    The CFC Executive would like to announce a resolution recently reached on the issue of the distribution of surplus funds garnered at the 2011 edition of the CYCC. After negotiation, the agreement is that:

    a) 30% of the $18,200 surplus will be distributed as cash prizes pro rata to the amounts previously announced;

    b) 70% of the $18,200 surplus will be distributed as bursaries to those entrants in the 2011 WYCC who were 1st, 2nd, or 3rd-place finishers at the 2011 CYCC pro rata to the amounts previously announced; and

    c) the remaining balance, should not all 36 qualifiers enter the 2011 WYCC, will go to those qualifiers that do enter the 2011 WYCC pro rata to the amounts they will have previously received.
    Congratulations on the resolution of this issue.

    Great news.

    Regards,

    Mark S. Dutton,I.A.
    Vice President, CFC
    markdutton@shaw.ca

  3. #3
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    Default

    Quote Originally Posted by Michael von Keitz View Post
    The CFC Executive would like to announce a resolution recently reached on the issue of the distribution of surplus funds garnered at the 2011 edition of the CYCC. After negotiation, the agreement is that:

    a) 30% of the $18,200 surplus will be distributed as cash prizes pro rata to the amounts previously announced;

    b) 70% of the $18,200 surplus will be distributed as bursaries to those entrants in the 2011 WYCC who were 1st, 2nd, or 3rd-place finishers at the 2011 CYCC pro rata to the amounts previously announced; and

    c) the remaining balance, should not all 36 qualifiers enter the 2011 WYCC, will go to those qualifiers that do enter the 2011 WYCC pro rata to the amounts they will have previously received.
    Is it correct to assume that this was a decision of the (new) CFC Executive and it was not brought before the Governors? (I just want the answer to be stated explicitly for the record and would presume it will also be documented in the next GL as well.)

  4. #4

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    Hi Kerry:

    At the AGM, the governors referred this to the Executive, for them to negotiate and finalize a resolution.

    Bob

  5. #5

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    From Spragget's Blog: Personally, I have no problem with the awarding of bursaries (Susan Polgar's youth activities in the States awards hundreds of thousands of dollars of such bursaries to youngsters each year) for those who finish high in the CYCC, but the introduction of prize money (in the order of thousands of dollars) into kiddy chess is something that many will find unacceptable.


    A black day for chess in Canada and one more sign of how the current CFC leadership is destroying chess.

  6. #6

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    I thought the executive settlement of the CYCC surpus issue was reasonable, given the internal conflict in the CYCC Organizing Committee, and the lack of clarity in the bid, and minimized the possible damage - not a black day at all, in my opinion.

    Bob

  7. #7

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    You should read the rest of what KS had to say on the issue, Bob.

  8. #8
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    Allowing even 0.1% of the money to be paid out as cash prizes seems to contradict the bid document, and sets a really horrible precedent in my opinion.
    Christopher Mallon
    FIDE Arbiter

  9. #9
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    What is the impact on potential funding for participants in the Pan American and North American Youth Championships?

  10. #10
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    I think organizing commettee made just "wording mistake" using word surplus. They could call 18.200 CAD "expenses" and use this money for example as
    1. Donation to developing sport in Nicaragua.
    2. Salary to members of organizing commettee.
    3. Prize money for 1-3 places.

    3 option looks much better to me.

    Proposal for money distribution was VERY logical and included 2 important points.

    1. More players in the section - bigger prize fund for 1-3 places.
    2. Player who doesn't want to go to WYCC (for whatever reason) still can win some money. Right now we have the situation: if strong player has no intention to go to WYCC (or other international tournaments) he or she has no reason to play in CYCC. Providing some cash prizes could attract this player to participate in CYCC and increase the importance and strengh of the national championship.

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