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+--- Thread: Directors' reports (/thread-1043.html)
Directors' reports - Derek Howie - 14-08-2014
Is it possible to get reports from the remaining directors published on the main site prior to the AGM? It would be good to know what everyone has been up to in the past year and what their plans are for the next 12 months.
Re: Directors' reports - Ianbrownlee - 14-08-2014
Am I also right in thinking the accounts should be available before the agm
Re: Directors' reports - Derek Howie - 22-08-2014
Bump.
Any sign of the remaining reports and the accounts? The AGM is tomorrow.
Re: Directors' reports - Phil Thomas - 22-08-2014
Accounts for 2012 to 2013 are now listed on Front Page.
Fascinating reading , much for you guys to discuss tomorrow
Re: Directors' reports - Derek Howie - 22-08-2014
Phil Thomas Wrote:Accounts for 2012 to 2013 are now listed on Front Page.
Fascinating reading , much for you guys to discuss tomorrow
These were presented prior to last year's AGM, albeit in a slightly different format. Hopefully the current year's accounts will appear, although we now have little time to review them.
Re: Directors' reports - Phil Thomas - 22-08-2014
You're absolutely right Derek.
The accounts published today are the ones published on the website on 26th February 2014.
Hence they are the accounts that were late for the August 2013 agm - as the minutes from that meeting record under the finance director's report
Delay in Audited Accounts, should be available for next Council Meeting
Bizarre that the same set of accounts can be late for two consecutive agm's
I do, however, still consider them fascinating.
At the end of financial year 2011-2012 net assets of Chess Scotland were £ 46,701
At the end of financial year 2012-2013 net assets of Chess Scotland were £ 33,686
A 28% reduction in 12 months.
So much is clear.
It would appear that there must have been considerable overspend by at least one director.
I hope for more information being included in the minutes of tomorrow's meeting and I also hope for some indication of what is likely to be in the 2013-2014 accounts.
Re: Directors' reports - Alan Jelfs - 22-08-2014
Phil,
IIRC, an anonymous benefactor gave CS £25,000 to spend over three years on the Scottish Championships.
This drop in assets simply represents the spending of part of that money.
Re: Directors' reports - Phil Thomas - 23-08-2014
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.
Re: Directors' reports - Andy Howie - 23-08-2014
This was all explained at the Council meeting in Edinburgh
Re: Directors' reports - Andy Howie - 23-08-2014
Quick forum search as I know David has covered this already. <!-- l --><a class="postlink-local" href="http://www.chessscotland.com/forum/viewtopic.php?f=4&t=995">viewtopic.php?f=4&t=995</a><!-- l --> contains all the information you need