(Executive members and Officers please post your reports here)
(Executive members and Officers please post your reports here)
CFC Financials. For the 6 month period 2015/05/01 - 2015/10/31
The receivables have gone up and the payables have gone way up. Any word on what this represents?
Payables are high primarily due to the WYCC. On the FIDE billing next month we should see $ 11,130 Cdn for the FIDE entry fees for the kids at WYCC Greece. This isn’t paid out yet, so I could have left it in the Youth fund, but then that would suggested we still have 11k available to spend, but we don’t. Better accounting treatment this way, as expenses are recognized when incurred not paid out.
Bob
Receivables continue to be a concern, I am going to help Bob on this for the rest of the fiscal year.
I just saw that. Yes it makes sense to do it the way he has done it. We need to whittle the receivables down so that we don't miss the cash when the WYCC bill is paid.
It would be useful to have some analysis from the E.D. or Treasurer to accompany the statement. To my untrained eye we seem to be in reasonable shape (forgetting for a moment the dreadful numbers for adult paying members). The balance and net revenue figures in the balance sheet seem to indicate that we are operating in the black.
Paul Leblanc
Treasurer, Chess Foundation of Canada
CFC Voting Member
To my eye it seems to me that we "lost" a few members to life membership which is not reflected in those annual paying adult member numbers? That indicates to me that we are stable memberwise in a year where there was no Canadian Open. Rating fee revenue seems to be up for the six month period. I think membership revenue reported is a better indicator of health than the net membership revenue which is also stable from six months to last year.
Last edited by Vladimir Drkulec; 12-13-2015 at 07:37 PM.
Job for a volunteer: examine the list of life members to see how many were active in the past year. My prediction: 20%
Paul Leblanc
Treasurer, Chess Foundation of Canada
CFC Voting Member
Well what does that mean for somebody like me? I assume you mean over the board while most of my chess activity has been with the BCCF and CFC with most of my actual play being on servers....
It means nothing to the individual player except perhaps the confidence that statistically speaking, your opponent is probably correctly rated. If he/she is a kid he/she is probably getting better and you can be satisfied that the outcome of your game with the kid will help his/her rating go up.
Paul Leblanc
Treasurer, Chess Foundation of Canada
CFC Voting Member