Not quite that simple since there's matters like equipment rentals, interest, grants (I mention these because they may be harder to break down, grants especially) but I'll send along some material now.
Not quite that simple since there's matters like equipment rentals, interest, grants (I mention these because they may be harder to break down, grants especially) but I'll send along some material now.
Sounds like an ideal use for Google Docs...
Christopher Mallon
FIDE Arbiter
They absolutely were, however, the taxes were not filled and this time around we need to. Like I said a couple times in my post, I intend to cut the cheque when the taxes are filled and not before. I really do have to emphasize that Bob is doing us an enormous favor and I am extremely grateful for it.
I glanced over it and to me it had more errors than it was worth trying to rectify. I compiled a document in the format that was requested by Chris and others. Everyone is going to want something different.
I genuinely wanted to avoid previous years since I genuinely don't know enough about it to make completely accurate statements, but I do know enough to point out a few things. To start, your spreadsheet had our income from memberships wrong for the years covered, the amount given to OYCC wrong, amount given to Senior's and Women's wrong. Generally a good check is that half our membership rebates (slightly more due to rounding) goes to the leagues. It is not in excess of 80%. Also as an organization we do not lose thousands of dollars every year.
Last edited by Rob Clark; 07-17-2012 at 09:07 PM.
Those numbers were taken from reports presented at that time. Now i see that seniors and women reduced to 125 both. ( check initial reports on the oca website)
Oycc amounts come with a remarks League rebates are tricky: the check received this budget year but it covers winter and spring. Where should it go?
What was an amount in the bank the OCA started this budget year?
I found that picture:
.*-1
Hi Egis
If you look at the 2011 and 2012 income statements, you will see a small loss for both years. In 2011, we had an unusual website expense $393.26, and an unusual bookkeeping expense of $500, as well as a small expense to me of $37.18 (mostly to pay the bank overdraft balance of the TD account Barry had left behind), as well as the Canadian Closed (which occurs every other year) expense of $500 totalling $1,430.44, a large chunk of the loss of $1,499.20. The 2012 loss of $150.82 is inconsequential, as we are trying to acknowledge and encourage women ( a minority) and seniors (an important demographic) with two small prizes of $125 each totalling $250, explaining the small deficit.
So how is it possible for OCA to spend $1650.02 more than it received over two years in 2011 and 2012? Because retained earnings in 2009 were $1,692.06 and in 2012 were $1,034.22, totalling $2726.08., a figure you will see as the opening bank balance on the 2011 income statement. Another way of looking at is the closing balance retained earnings on the 2012 statement showing $1,076.26 (subject to minor revision once the payments to the 4 leagues are finalized). Even though we are a non profit entity, we are showing a profit over 4 years, which indicates responsible stewardship.
First of all, what on Earth did we spend $393.26 on for the website???
Secondly, the TD balance when I took over from Barry was only $2 in overdraft, and they REFUSED to transfer control of the account to the new executive (forcing us to get the BMO account), so I find it extremely fishy that the amount was inflated almost 1800% !
Christopher Mallon
FIDE Arbiter
Hi Chris
I am not going to worry about the TD bank charges, as it's too trivial and everyone knows banks gouge consumers. From my experience, there are fees associated with being in an overdraft state, and the $2 overdraft should have been paid off, and the account closed at that time.
Michael Von Keitz could explain website charge better than me, but I trusted him when he said it was reasonable and necessary, especially since he was president of OCA at the time.