AGM 2008 - Treasurer's Report

Eamon Keogh


This article part of the series: ICU Bulletins 2007-08 - 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19


The expenditure incurred by your Union this year was dominated by three items, totaling €14,929:

  1. Glorney Cup: €7,629
  2. Olympiad Costs: €3,600
  3. Support for Congresses: €3,700

This represents 65% of members fees while the surplus of €3,610 is equivalent to 16% of expenditure.

The expenditure on the Junior Championship was more than offset by the income mainly due to our sponsor.

The Irish Championship was run at a net cost to the Union of €1,500 having been generously supported by Island Oil & Gas.

In the coming year Island Oil & Gas has committed to continuing its sponsorship and your committee has agreed to entrust the management of this to Michael Crowe.

There will be no Olympiad next year which will yield a saving of approximately €4,000 while the Glorney expenses should reduce by about €600.

As a result of this the surplus for the year should increase to €8,000 provided there is no further deterioration in membership income.

No progress has been made on getting Government support for chess nor have we been successful in finding a sponsor for the Glorney Cup to which our support is committed.

A commitment of €1,000 has already been made to support a Rapidplay tournament in memory of Philip Hogarty.

We had intended to spend about €4,000 on training but a busy season on the tournament front stopped this happening. The incoming committee should publish a training programme as soon as possible aiming a high proportion of the expenditure at our junior players.

I would like to thank the committee for their support over the last two years in this my last report as Hon. Treasurer.

Income and Expenditure 2007-09-01 to 2008-08-31

INCOME
Income from Junior Championships 2,360
Memberships via PayPal 15,500
Memberships by Post 6,970
Ratings Fees 180
Misc. Income 185
Total Income 25,195
EXPENDITURE
Glorney Cup Costs 7,629
Prizes 1,076
Olympiad 3,600
Entry Fees 1,316
Training 950
FIDE Membership Fees 930
Junior Expenses 1,148
Chess Congress Supports 3,700
Expenses 370
Bank Fees 116
Honorarium 250
Tournament Expenses 500
Total Expenditure 21,585
Surplus for the Year 3,610
BALANCE SHEET 2008-08-31
Cash at AIB (Current Account) 10,076
Lodgement outstanding 340
Deposit Account (AIB) 585
PayPal Balance 1,469
Members Funds 2008-08-31 12,470
Liabilities (cheques outstanding) 250
Net Membership Funds 12,220
Balance at Bank 2007-09-01 6,556
Paypal Receivable 1,455
Deposit Account 579
Lodgements Outstanding 20
Members Funds 2007-08-31 8,610
Surplus for Year 3,610
Total Members Resources 2008-08-31 12,220

Schedules

Prizes
22nd Oct 500505 Ryan Rhys Griffiths - Junior 200
23rd Nov 500506 G O'Connell - Player of the Year 250
14th Mar 500515 Gearoidin - Hall of Fame & John Alfred 326
1st Apr 500519 Philip Short, Cork CC 300
1,076
Entry Fees
12th Nov 500484 Transfer re European Entries 396
18th July 500529 K McPhilips - world juniors 170
28th July 500530 European Club Cup Entry Fee 600
13th Aug 500532 Gearoidin Ui Laighleis/Mark Orr / Entry Fees Beijing 150
1,316
Training
20th May 500489 Mark Heidenfeld / training 250
500526 Training 700
950
Chess Congress Support
25th Sept 500483 Entries European to buy bank draft 1,500
12th Nov 500485 Limerick Chess Club 300
27th Nov 500486 Kilkenny Chess Club 500
23rd Nov 500487 Bunratty 500
28th Dec 500488 Donation to Leinster Chess Championship 300
27th Mar 500520 Ennis CC 300
17th June 500491 Waterford/Tramore Chess Promo 300
3,700
Expenses
12th Nov 500501 Rent 70
500507 Mark Orr - Expenses 80
18th Mar 500512 Mark Orr - Travel Expenses 50
25th Mar 500516 Robert Murtagh - Artwork JCC 150
18th Mar 500517 Pat McCarrick re Mark Breslin membership refund 20
370

Created 2008-09-23 ◦ Last updated 2014-07-23 ◦ Editor MO


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