WTF CSA?

[Zeffer]

Many opinions on CSA finacial situation. The financial statements are available. Has anyone made a factual analysis (I am not a fiancial person) on what is wrong there?

 

I note that membership fees is only R2.4 of the total income of >R20m. So it is NOT the income from membership which is driving this organization.

 

And the executive salaries less than R1m of the total expenses of R20m. So the exec is not the mayor expense.

 

Anyone had a look?

[Spinnekop]

Many opinions on CSA finacial situation. The financial statements are available. Has anyone made a factual analysis (I am not a fiancial person) on what is wrong there?

 

I note that membership fees is only R2.4 of the total income of >R20m. So it is NOT the income from membership which is driving this organization.

 

And the executive salaries less than R1m of the total expenses of R20m. So the exec is not the mayor expense.

 

Anyone had a look?

I had a look yes.

The statements tells you buggerall wrt who said what must be spent on what and who authorised overspending etc.

 

Financial statement info is not what is going to get this mess explained.

[shaper]

Many opinions on CSA finacial situation. The financial statements are available. Has anyone made a factual analysis (I am not a fiancial person) on what is wrong there?

 

I note that membership fees is only R2.4 of the total income of >R20m. So it is NOT the income from membership which is driving this organization.

 

And the executive salaries less than R1m of the total expenses of R20m. So the exec is not the mayor expense.

 

Anyone had a look?

Not really much point in reading the financials from 2016 as that is the latest on the CSA website.

 

Most of the mismanagement happened in 2017 (could well have started in 2016 or before).

 

Financial year end for CSA is August, yet here we are in June of 2018 and the financial report for 2017 still have yet to be published !!

 

Wonder why?

[Bloukrans]

No point in reading the financials when they were running out of funds????

 

New phrase for mismanagement is running out of funds

[Dogs]

Maybe CSA should liaise with Netwerk 24 (Beeld/Burger/Volksblad) on their poll and explain to them (and their readers) what the legal status is of bicycles on SA Roads.

 

Won't cost them much money and should get some mileage.

[Eldron]

Yeahhhh public sentiment on the CSA is not great.

 

Government Departments and Sporting Bodies have the same fatal flaw - they're held to lower standards than the Private Sector.

 

If I hadn't sorted the previous years budget reports and financials at work all hell would break loose then it would get really quiet due to me being unemployed...

[Rolling Stone]

Not really much point in reading the financials from 2016 as that is the latest on the CSA website.

 

Most of the mismanagement happened in 2017 (could well have started in 2016 or before).

 

Financial year end for CSA is August, yet here we are in June of 2018 and the financial report for 2017 still have yet to be published !!

 

Wonder why?

Aparently this is all done, was a bit slow I agree. No reason not to publish. Have a feeling they were just sorting out the Chairman position.

We should have these published shortly.

[shaper]

Aparently this is all done, was a bit slow I agree. No reason not to publish. Have a feeling they were just sorting out the Chairman position.

We should have these published shortly.

Good governance is to publish the financial report timeously and not long after year end.

What is the reason for delay in sorting out Chairman, as they would not sign off the accounts and be liable??

In absence of chairman, accounts can be signed off by secretary and the auditors.  So no reason for delay!

Thanks for the update, maybe the published accounts will make for interesting reading... maybe not as there has been considerable time to massage the figures and re-allocate if necessary

 

Edit:  having looked at the CSA webpage it seems the AGM is in November, so the financial report must have been agreed and signed off in November 2017... unless of course there were issues (financial mismanagement) with these accounts and as such approval of the financial report not given.  The delay is therefore unacceptable!! 

 

Maybe the delay is so that the 2018 financial report can be published which may make for better reading and hoping that no one reads the 2017 report when it is eventually published???

[Patchelicious]

Aparently this is all done, was a bit slow I agree. No reason not to publish. Have a feeling they were just sorting out the Chairman position.

We should have these published shortly.

An annual report that is almost a year late, is not “a bit slow”.

 

How is this acceptable to you?

[Patchelicious]

Good governance is to publish the financial report timeously and not long after year end.

What is the reason for delay in sorting out Chairman, as they would not sign off the accounts and be liable??

In absence of chairman, accounts can be signed off by secretary and the auditors. So no reason for delay!

Thanks for the update, maybe the published accounts will make for interesting reading... maybe not as there has been considerable time to massage the figures and re-allocate if necessary

Only two reasons that reports are delayed is because either you don’t know what’s going on or you don’t want people to know what’s going on.

[shaper]

Only two reasons that reports are delayed is because either you don’t know what’s going on or you don’t want people to know what’s going on.

Couldn't agree more!!

 

As a business owner and having served as a vice chairman and secretary at a club (not cycling related) which is governed by a constitution, a code of conduct, good governance and financial accountability. I am all too aware of management requirements and publishing of reports and minutes.

 

In conjunction with no financial report for 2017, I also see there are no minutes of the AGM for 2017 either.  To concur with your comment, maybe they have not been published as CSA do not want people to know what is going on and what was said at that AGM.

[Underachiever]

Good governance is to publish the financial report timeously and not long after year end.

What is the reason for delay in sorting out Chairman, as they would not sign off the accounts and be liable??

In absence of chairman, accounts can be signed off by secretary and the auditors.  So no reason for delay!

Thanks for the update, maybe the published accounts will make for interesting reading... maybe not as there has been considerable time to massage the figures and re-allocate if necessary

 

Edit:  having looked at the CSA webpage it seems the AGM is in November, so the financial report must have been agreed and signed off in November 2017... unless of course there were issues (financial mismanagement) with these accounts and as such approval of the financial report not given.  The delay is therefore unacceptable!! 

 

Maybe the delay is so that the 2018 financial report can be published which may make for better reading and hoping that no one reads the 2017 report when it is eventually published???

 

 

An annual report that is almost a year late, is not “a bit slow”.

 

How is this acceptable to you?

These are typically the tough questions shareholders ask when they have invested in a company, and the company underperforms.

 

Since you've "invested" through your licence fees, these are very relevant. 

 

Waiting with abated breath on the official answer.........................

[shaper]

These are typically the tough questions shareholders ask when they have invested in a company, and the company underperforms.

 

Since you've "invested" through your licence fees, these are very relevant. 

 

Waiting with abated breath on the official answer.........................

There is only one question that needs to be asked, but I do not expect there will ever be an answer to it.

 

CSA committee got caught for mismanagement and financial irregularities that made CSA insolvent and unable to pay for insurance cover for member cyclists.  Why is it that not one of the committee has fallen on their proverbial sword and resigned or been fired with regard to this?

[Patchelicious]

CSA doing an amazing PR job, really drumming up support

 

[Jehosefat]

It's honestly like watching a car crash.

 

How, on earth, did this seem like a good idea?

[Eldron]

The CSA are awesome! I love them in the same way that I love a sulphuric acid enema.