WTF CSA?

[jcza]

Battling to understand the financials

 

Unutilised Grants in 2015 accounts was R 809,487 but in the comparative figures in the 2016 accounts it changes to R 3,393,697. An increase in this liability of R2.5m? The amounts at yearend in 2016 is R 3,793,339. I thought an unutilised grant would be an asset. 

 

Then in the Income Statements we have R 10m  for overspending of grants. R 8.5m for 2015 and R 1.5m for 2016. How do you overspend on grants? Surely you can only spend what you receive? Why the liability for unutilised grants? Who is this due to?

 

Finally I see cash has decreased from R 5.5m to R 3.7m to R 2.4m. If you have this available why was the premiums not paid? 

[TIB]

Battling to understand the financials

 

Unutilised Grants in 2015 accounts was R 809,487 but in the comparative figures in the 2016 accounts it changes to R 3,393,697. An increase in this liability of R2.5m? The amounts at yearend in 2016 is R 3,793,339. I thought an unutilised grant would be an asset. 

 

Then in the Income Statements we have R 10m  for overspending of grants. R 8.5m for 2015 and R 1.5m for 2016. How do you overspend on grants? Surely you can only spend what you receive? Why the liability for unutilised grants? Who is this due to?

 

Finally I see cash has decreased from R 5.5m to R 3.7m to R 2.4m. If you have this available why was the premiums not paid? 

 

Struggle Accounting is not for everybody.....  

[Ryinc]

Where are their offices?

 

I sense a protest ride there, a few eggs , and then off to a WMC R50 coffee and high 5s.

ASG will try sell you the high 5s

[Broker]

This just keeps getting better

Can someone tell me who do they report to. Must be CSA Board. Now who elect this board.

How do we go about getting some proper honest people on the board

 

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[Thor Buttox]

Battling to understand the financials

 

Unutilised Grants in 2015 accounts was R 809,487 but in the comparative figures in the 2016 accounts it changes to R 3,393,697. An increase in this liability of R2.5m? The amounts at yearend in 2016 is R 3,793,339. I thought an unutilised grant would be an asset.

 

Then in the Income Statements we have R 10m for overspending of grants. R 8.5m for 2015 and R 1.5m for 2016. How do you overspend on grants? Surely you can only spend what you receive? Why the liability for unutilised grants? Who is this due to?

 

Finally I see cash has decreased from R 5.5m to R 3.7m to R 2.4m. If you have this available why was the premiums not paid?

The unutilised grants would be cash received and owing for disbursement,ie a liability. But that raises more questions of their competence and ability to manage and support.

 

The income statement? You got me. Not a clue.

[shaper]

When is the AGM?

[Dirkitech]

My son crashed at BMX Nationals in April. Went to hospital in Ambulance etc etc. When I tried to claim a few weeks back I was told sorry, no money to pay, please claim from your own medical aid. And yes, I'm a fully paid up member, in fact hold 4 memberships with wife and kids as we all ride.

 

 

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Hi Wright, just wondering, did it end there? Did you have to fork out your own medical aid and just take the expenses with/without legal aid?

[jcza]

The unutilised grants would be cash received and owing for disbursement,ie a liability. But that raises more questions of their competence and ability to manage and support.

 

The income statement? You got me. Not a clue.

Description not accurate if unutilised. Owing implies that grant received was utilised.

 

Something strange or creative accounting.

[Eugene Oppelt]

Calling Frosty

Comment please if I haven't missed it yet ⚠️⚠️⚠️

[WrightJnr]

Hi Wright, just wondering, did it end there? Did you have to fork out your own medical aid and just take the expenses with/without legal aid?

My personal medical aid covered all the expenses. Ended up a dislocation relocation shoulder and broken collarbone. To be honest, I don't have the energy to take on the fight. Not right I know but I've currently got bigger challenges that need my attention.

[Frosty]

Calling Frosty

Comment please if I haven't missed it yet ⚠️⚠️⚠️

Currently out of the loop - new job has me super busy 

 

I have asked for some info from my regional committee, to see what impact it may have on upcoming races my club is involved with - no answer yet.

[Eugene Oppelt]

Currently out of the loop - new job has me super busy

 

I have asked for some info from my regional committee, to see what impact it may have on upcoming races my club is involved with - no answer yet.

Sweet ????????

[Frosty]

An apt description (update) for their app, that mirrors their perception of the happenings at CSA.

 

 

 

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[SwissVan]

An apt description (update) for their app, that mirrors their perception of the happenings at CSA.

 

 

 

 

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No MAJOR bug fixes?

[DJ Kruger]

wish they could go bankrupt.they charge r800 for a "calender fee" and then r10 per rider if you want to organise a race and you get absolutely nothing in return.

[Frosty]

wish they could go bankrupt.they charge r800 for a "calender fee" and then r10 per rider if you want to organise a race and you get absolutely nothing in return.

R10/rider is new for 2017 (need to act surprised) as it was R6 for last year. R3.50 for the region and R2.50 for CSA.

 

Two days have passed and I still don't have any feedback from my region - who had to ask the GM of CSA.