18) Budget

[Christopher Mallon]

This is what I'd like to see every year: http://www.chessontario.com/meetings...als%202009.pdf

I prepared this one as we had no Treasurer at the time. All 4 pages of information, all in one place, would be great to have.

[Egidijus Zeromskis]

This is what I'd like to see every year: http://www.chessontario.com/meetings...als%202009.pdf

Do you still have an original file?
The PDf does not allow to copy properly, gives back squares only.

[Rob Clark]

ONTARIO CHESS ASSOCIATION
INCOME STATEMENT FOR THE YEAR ENDING 30 APRIL 2012
Opening bank balance 1 May 2011 $ 3,485.08
Interest Income $ .18
CFC Rebates - February to April 2011 $1,152.00
CFC Rebates May to November 2011 $2,436.50
Total Income $ 3,588.68
Expenses
Canadian Closed Chess Championship (Hal Bond) $ 500.00
Nick Stepanian (accounting) $ 500.00
EOCA (2011) $ 480.00
Patrick McDonald (OYCC 2011) $ 500.00
Bob Gillanders (Ontario Open 2011) $ 500.00
NOCL (2011) $ 120.00
SWOCL (2011) $ 745.00
Patrick McDonald (OYCC 2012) $ 500.00
GTCL (2011) $ 1,065.00
Total expenses = $4,910.00
Excess of expenses over income = $ 1,321.32
Closing bank balance 30 April 2012 $2,163.76
Adjustments to Income
Account Receivable
CFC Rebate November 2011 to April 2012 $2,261.50

Adjustments to expenses
Accounts Payable
Ontario Open 2012(NOCL) $ 500.00
Ontario High School Chess Championship (2012) $ 250.00
Top Senior 2012 Canadian Open $ 150.00
Top Ontario Woman 2012 Canadian Women’s Championship $ 150.00
Payments to NOCL, SWOCL, EOCA, GTCL (2012) $2,349.00
Subtotal $3,399.00
Excess of Accounts Payable over Account Receivable $1,137.50
Amount of money available until next CFC rebate in November $1,026.26

[Michael Barron]

Expenses
...
Nick Stepanian (accounting) $ 500.00
...

Thank you, Mr. Clark!

Could you please clarify:
Who is Nick Stepanian and what exactly he has done for the OCA?

[Rob Clark]

Thank you, Mr. Clark!

Could you please clarify:
Who is Nick Stepanian and what exactly he has done for the OCA?

Nick Stepanian helped Hal prepare our taxes.

[Michael Barron]

Nick Stepanian helped Hal prepare our taxes.

What is result of his work?
Did he complete it?
What exactly the OCA got for $500 ?

This is the proposed 2012-2013 funding allocation I proposed for next year based on comments.
...
-$500 to Bob Gillanders for filing taxes
...

Are there the same $500 ?
Or we're going to pay $500 for filing taxes every year?

[Egidijus Zeromskis]

What is result of his work?
Did he complete it?
What exactly the OCA got for $500 ?


Are there the same $500 ?
Or we're going to pay $500 for filing taxes every year?

Regarding previous 500, see in the Treasurer's report:
"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."

The proposed new 500 is for finishing the work.

[Rob Clark]

Correct Egis. Hal stepped away from the taxes. From what I understand Nick finished his portion of the work and was awarded the $500. Hal was also supposed to receive $500 to use towards chess but since he has stepped away this is the $500 which will go to Gillanders, it is from last years budget so it is the same $500.

[Egidijus Zeromskis]

Hal was also supposed to receive $500 to use towards chess but since he has stepped away this is the $500 which will go to Gillanders, it is from last years budget so it is the same $500.

If you mean this "Discretionary tournament support to Hal Bond - $500" from minutes, then B.H. received for Canadian Closed.
"Canadian Closed Chess Championship (Hal Bond) $ 500.00" (http://www.chessontario.com/meetings...urerincome.pdf)
The budget had no specific item for the CCCC.

[Rob Clark]

I believe so Egis, yes. There are a couple of errors in the spreadsheet that you made but its a great start. I expect this will all be addressed in the meeting we will have concerning the budget.