Results 1 to 8 of 8

Thread: 7. Financial Reports

  1. #1
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
    Posts
    2,204
    Blog Entries
    1

    Default 7. Financial Reports

    Financial reports are to be posted in this thread.

  2. #2
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
    Posts
    2,204
    Blog Entries
    1

    Default

    Paul Leblanc gave the following report on the foundation funds earlier this month via email.


    The total invested was $280,780.40
    Income for the quarter was $2,350.90 and for the year to date is was $7,557.94. We can expect that the total income at the end of the fiscal year will be approximately $10,000.
    During the quarter there were no changes to any of the investments.
    In addition to this I received a cheque for $720 for the sale of two life memberships. This will be deposited in the investment account as soon as the cheques clear.

    sincerly,
    Paul Leblanc

    Thank you to Paul for that report. I am expecting financials for the first three quarters late Friday and will post them shortly after I get them.

  3. #3
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
    Posts
    2,204
    Blog Entries
    1

    Default Profit and Loss Statement and Balance sheet for nine months ending January 31st, 2014

    Membership revenues are down slightly from what I would expect but apparently this is a somewhat normal pattern and we are just about where we were last year at this time. Net income is up quite a bit but don't expect the full year's total to be this good (on a proportional basis) as we tend to get hit with numerous expenses in the final quarter. Net income for nine months was $7,380.12

  4. #4
    Join Date
    Aug 2008
    Location
    Toronto
    Posts
    1,303

    Default Youth Programs Fund

    Thank you, Vlad, for posting Financial Reports!

    Could you please add some comments to the numbers related to the Youth Programs Fund?
    Code:
    2800 · Youth Chess Ch Programs
       2805 · Accumulated Surpluses 6,214.99
       2810 · 2013 WYCC 15,084.32
       2811 · 2014 WYCC 475.50
       2800 · Youth Chess Ch Programs - Other -2,650.00
    Total 2800 · Youth Chess Ch Programs 19,124.81
    Thanks,
    Michael Barron

  5. #5
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
    Posts
    2,204
    Blog Entries
    1

    Default

    I have asked for clarification on these numbers. It is likely that they reflect an incomplete accounting for WYCC 2013 since it is dated Jan 31st 2014 approximately one month after they finished playing. I suspect that item 2811 reflects YCC contributions for fiscal 2014 which should come in multiples of $1.50.
    Last edited by Vladimir Drkulec; 02-21-2014 at 11:52 PM.

  6. #6
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
    Posts
    2,204
    Blog Entries
    1

    Default WYCC Budget versus Actuals

    Here is the last budget versus actual numbers on the 2013 WYCC (which does not include YCC's). I believe this was dated January 11th, 2014 and probably is incomplete. The overall surplus was approximately $9,087 not including YCCs. I believe there is at least one error on the fees paid. Final numbers will be available when we do the year end financial statements but these should be fairly close.
    Last edited by Vladimir Drkulec; 02-21-2014 at 11:47 PM.

  7. #7
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
    Posts
    2,204
    Blog Entries
    1

    Default

    Michael von Keitz got back to me and the following is a slightly redacted (names of individuals have been removed) cut and paste:

    2800: (2650.00) = 2050 coverage for WYCC coach air travel to 2013 WYCC (seems misallocated – should probably be applied against 2810 – sorry we missed this…) + 250 to for CYCC trophies refurbish + 350 to player for NAYCC

    2805: According to Quickbooks, we closed last year out at 6214.99. Breakdown:
    An amount of 4261.39 carried forward from prior; a YE adjustment of 2035.91 for A/P related to pre-WYCC camps was applied; and an additional adjustment of (82.31) was applied without a memo. $7402 does not correspond with our records, as far as I can see.
    2810 & 2811: Reports on the Youth Fund, similar to last year, are planned to be prepared for this year’s YE. The numbers you provided to John Upper are a good reference in the interim.

    I surmise that the 2035.91 for pre-WYCC chess camps is related to 2012 since no such expenditure that I am aware of was undertaken in 2013. I await clarification on that. We had $1000 budgeted in 2013 but only $200 was spent as shown in the January 11th, 2014 WYCC Budget vs Actuals document attached in this thread's post #6. John Upper asked for a breakdown of spending on WYCC for the CCN and I gave him a version of this document which was prepared by Andrew Giblon our outstanding head of delegation for WYCC 2013. The only change that I made in the document that Andrew sent me was to edit the gift purchase amount to reflect the fact that we paid $510 and not $500. I also removed references to individual players so the original documents give a slightly more thorough explanation of where the individual payments came from with one notable error which shows someone paid $150 when I know that they paid the correct amount of $300.

    Last edited by Vladimir Drkulec; 02-22-2014 at 05:09 PM.

  8. #8
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
    Posts
    2,204
    Blog Entries
    1

    Default

    Quote Originally Posted by Vladimir Drkulec View Post

    I surmise that the 2035.91 for pre-WYCC chess camps is related to 2012 since no such expenditure that I am aware of was undertaken in 2013.
    Michael has confirmed that this is the case.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •