Originally Posted by
Brent Golem
Hey Fred,
I had a couple questions about the Financial statements, if you can answer. I can't post in the other thread, so I'm not sure if this is the right spot.
BALANCE SHEET
1. Deferred membership revenue – Would this number give us an idea of when people purchased subscriptions during the year? Deferred annual - $25199, Paid annual - $43,491, so only $18,292 count toward this year, meaning the majority of members make their purchases/renewals later in the year? 2016 had $23,583 in deferred revenue, what line item is that number represented in the 2017 financials?
Yes. It's accounted for as a net gain or loss for the year in the Notes (see Memberships).
STATEMENT OF REVENUE AND EXPENDITURE
2. Sales of Books and Equipment – The number in 2017 and 2016 was $5000, down from $5250 in 2015 and $10298 in 2014. Is that a flat-rate 3rd party "advertising" agreement, and we don't sell any equipment internally nor receive commission from sales driven from CFC traffic?
We currently have a contract with CMA. We receive $5,000 in order to provide advertising for them (and of course we agree to sell no books or equipment).
3. Publication: e-Newsletter – Are there any financial notes for this item? For a large expenditure it's interesting that we can't see how expenses have changed year over year. Why is there a significant drop this year? Less issues and postage, or other?
We have a monthly budget of $1,500 for the Newsletter and Newsfeed. There were less issues this year. There is no postage. By coincidence it came at a good time as we had a huge Olympic line item
NOTES TO FINANCIAL STATEMENTS
4. Domestic Rating Fees – Is it possible to express these as the types of fees collected? ie, Revenue for regular, active, or junior per player fee, or just raw numbers such as done with the Membership.
I assume it could be done, but would obviously require time by the ED
5. Annual Membership Fees – For my membership I paid $48 because I live in Ontario. A foreign player would pay $36, so I presume that $12 was transferred to Ontario Chess Association or why is there a difference in provincial fees? If they are indeed transfers, how are they shown in the financials?
Provincial Fees are a straight in and out and do not appear in the Financial statements. Every province sets their own fees
Thanks for your time and putting this all together.