06) Treasurer's Report

[Christopher Mallon]

Treasurer's Report to be posted below.

[Rob Clark]

Brett has made his report already and posted it on the OCA website. I will copy and paste it below.

[Rob Clark]

OCA TREASURER’S REPORT for the year ending 30 April 2012

Rob Clark, President of the OCA, has been added as a second signing authority, taking over from Michael Von Keitz.

I understand we have recently deposited $40.00 from Chris Field for the rental of our chess equipment, which is a good sign that we are collecting a fee, money that can be used to repair or replace clocks or sets as the need arises. We have to be consistent in enforcing a fee upfront, and everyone should get the same rate, which could be per set, clock or some other means that we determine, so this should be discussed at the meeting.

Unfortunately, I had to guess on the balance sheets what our inventory is, although amendments can be made when someone tells me exactly how many clocks work now, and how many complete sets we have.

On the topic of the income statements and balance sheets, I made a number of revisions to last year’s balance sheet and income statement for the year ending 30 April 2011, some of which we discussed at the meeting. I was a little rushed, so I made an error regarding retained earnings, as we actually spent more money than we deposited in 2011, and I also corrected the estimates for league payments and CFC revenue that we talked about on the balance sheet. The contributed surplus is needed to balance the sheet. The 2011 income statement was revised as discussed and the adjustments are obvious. The 2011 balance sheet shows the 2011 loss for the year and incorporates the account receivable and accounts payable noted in the adjustments on the income statement.

With respect to 2012, there are not many surprises. We spent the money we said we would, or we will very shortly, as you can see from the account payables under the adjustments to expenses on the income statement. The 2012 balance sheet shows the 2012 loss for the year and incorporates the account receivable and accounts payable noted in the adjustments on the 2012 income statement. The only surprise or concern I have is with the $500 accounting expense paid to Nick Stepanov, who was retained by Hal Bond to assist with the tax preparation he said would be competed at the last annual meeting. What exactly was done for this money? I only ask because I understand Hal has backed out of the project, so the tax returns have not yet been filed, and this is problematic for a number of reasons.

I will repeat a suggestion I made last year that we should consider asking organizers who benefit from OCA sponsored chess events (publicity and in some cases funding) to take some of the entry fee collected from the chess player and returning it to the OCA. Even a dollar per player per event would add up over time. The last two years, more money has left the account than been deposited, which limits our ability to do anything effective.

As I said last year, we have to encourage more volunteers to support chess politics so that the popularity of chess can continue to grow in Ontario. We need young people who have the energy and motivation to work at promoting the chess community as they are the ones trying to improve their ratings in tournaments, tournaments which will be fewer in number if participation wanes. Older volunteers, like me, may be facing other more important priorities in their lives. If someone wants a little mentoring related to learning the responsibilities of being a treasurer, I would be happy to share a few tips!

Maybe the OCA should consider some small stipend to reward executive members or perhaps the OCA hould at least pay for an annual meal at annual meetings, although if we do them online from now on, that isn’t likely to happen! Volunteers need to feel appreciated so they stay motivated, in my opinion.

Ontario Chess Association Treasurer Brett Campbell

[Egidijus Zeromskis]

Brett send several financial sheets for 2012 and 2011 years
http://www.chessontario.com/meetings/AGMmay2012.htm

http://www.chessontario.com/meetings/AGMmay2011.htm

[Rob Clark]

Yet again, there is a lot of work pot into getting the numbers together and I am happy to have served with Brett. I will attest to his professionalism, competence and good nature this year. I hope to work with him again.

[Brett Campbell]

Yet again, there is a lot of work pot into getting the numbers together and I am happy to have served with Brett. I will attest to his professionalism, competence and good nature this year. I hope to work with him again.

Thanks Rob

I appreciate your compliments and hope to work with you again this year. I have updated the financial statements slightly and will send you and Bob G copies. Maybe you know how to post them on this meeting site and that would be great.