23-08-2014, 05:47 AM
Alan,
I had heard about the £25,000 anonymous donation to be spent over three years.
We are not in disagreement here because that £25,000 is a substantial part of the net assets.
Some simple sums still show some cause for concern. If the £25,000 is to be spent equally in 3 financial years that is £8,333 per year. The fall in assets is £13,015.
Does the difference of £4,682 represent the true operating loss over a season?
If it does that conclusion is highly significant to all paid up members. If that happened in the outside business world the next company agm would earnestly discuss the available financial data (including projections) for the next accounting period. It should be no different with CS.
My comment about overspend by at least one director still stand. Either
(a) That did happen
Or (b) There was significant unplanned spend.
Or © A significant operating loss was planned and not communicated to the members.
At this point I would like to agree with the president's comments about pretty extreme stuff on the notice board. The last time possible budget overspend was mentioned by a member of the Thomas household the thread degenerated until I was accused of stealing money that does not exist. Let me take this further opportunity to reiterate once more that at World and Euro youth events FIDE does not transfer funds to the entering countries for invited players (one per section per country regardless of playing strength)for their free accommodation.
Advice taken elsewhere concurs with the sentiment expressed at the time by a former president that such comments could lead to successful legal action. Thankfully those days are now behind us thanks (I presume - via a sizeable extrapolation) by action taken behind the scenes by the current CS president.
I had heard about the £25,000 anonymous donation to be spent over three years.
We are not in disagreement here because that £25,000 is a substantial part of the net assets.
Some simple sums still show some cause for concern. If the £25,000 is to be spent equally in 3 financial years that is £8,333 per year. The fall in assets is £13,015.
Does the difference of £4,682 represent the true operating loss over a season?
If it does that conclusion is highly significant to all paid up members. If that happened in the outside business world the next company agm would earnestly discuss the available financial data (including projections) for the next accounting period. It should be no different with CS.
My comment about overspend by at least one director still stand. Either
(a) That did happen
Or (b) There was significant unplanned spend.
Or © A significant operating loss was planned and not communicated to the members.
At this point I would like to agree with the president's comments about pretty extreme stuff on the notice board. The last time possible budget overspend was mentioned by a member of the Thomas household the thread degenerated until I was accused of stealing money that does not exist. Let me take this further opportunity to reiterate once more that at World and Euro youth events FIDE does not transfer funds to the entering countries for invited players (one per section per country regardless of playing strength)for their free accommodation.
Advice taken elsewhere concurs with the sentiment expressed at the time by a former president that such comments could lead to successful legal action. Thankfully those days are now behind us thanks (I presume - via a sizeable extrapolation) by action taken behind the scenes by the current CS president.