Discuss budget here.
Discuss budget here.
Are there enough funds to support Ontario Olympics team members by donating to the CFC Olympic Fund?
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According to the financial statements I did, the OCA bank account will have slightly over $1,000 until the next CFC rebate is received in November.
Probably, we could discuss donating a small amount to Ontario players who represent Canada in the Olympics.
Is this still set at $250 each year?
Chris Field.
Brett, I am confused. When was the last CFC-to-OCA rebate received? Another way of looking at this is, were the OCA-to-4-leagues rebates at the 2011 OCA AGM based on the November 2010 CFC-to-OCA rebates, and therefore will the 2012 AGM OCA-to-4-leagues rebates be based on the November 2011 CFC-to-OCA rebates? Does the current OCA bank balance of $1000 include the November 2011 CFC-to-OCA rebates that will be at least partially distributed as the 2012 OCA AGM OCA-to-4-leagues rebates? Or were you thinking of pre-dipping (I am not crazy about that) into the future November 2012 CFC-to-OCA rebates? I am not against the idea per se, but after baseline commitments.
Chris, as an OCA sponsored event I believe it should be and will support it.
There is another matter at hand here. Bob Gillanders is preparing our tax returns. There was originally $500 allocated to Hal when he completed them but as it was passed to Bob, I believe the $500 should go to Bob as well. This is something we would have to pay thousands for otherwise and something that without, we could end up folding as a corporation. I personally am utterly grateful that Bob picked this up and fully believe that the money which was allocated for the completion of this task should go to Bob.
We've been talking about/working on these tax returns for 2 or 3 years now... time to get them done! I know it's a lot of work especially for the older ones; perhaps get 3 or 4 people in a room for a day or two and just work through them together.
Christopher Mallon
FIDE Arbiter
The tax returns are my number one priority for my upcoming term. Once again I can't thank Bob G enough for stepping up.
Hi Aris
Maybe Rob or Bob G could send you my revised Income statements and Balance sheets for 4 years from 2009 to 2012 which I think may be clearer than the earlier ones.
The rebate the CFC gave us for the period Nov 2011 to April 2012 is deposited in May 2012, so it is technically an account receivable. The league rebates for the year ending April 2012 are an account payable, paid usually in May 2012. We also have other payables we promised in last year's meeting. After we take care of these obligations, we will have $1,026.26 in the account to spend until next November, when we get the next CFC rebate.
I think $500 of that should be given to Bob G to finish the tax returns. Although we do not have much money, a token gesture to each of the players who live in Ontario and who will represent Canada at the Olympics is a good idea, and it's the thought that counts!