Has anyone seen the latest National figures just released??
AWFUL lot of brackets on the bottom line [ which are LOSSES]
some of the areas are really strange, some snouts seem to be in the trough again, CMS expense just keep on growing, CIK costing a bundle, travel is way up there,
Go and get the figures and look for yourself its out in the open [ shock horror] for all to see.
Comments12
I notice that the Treasurer rates up there in the talk on the phone stakes ...!!!
2010 - $2944.00
2011 - $2369.00
And not to be outdone the New Executive member in his first month has expenses of $1545.00 plus $480 on phone calls ....??? not to mention his CIK spend !!
Considering the bottom line is in the red , the snouts are deep in the trough for the forage of the green !!
Interesting that the FIA/CIK Fund - where every entrant who participates in a FIA/CIK karting event overseas, AKA is required to contribute to the fund run by the FIA ( the fee I think is $250.00 per entrant from Australia) this is shown as $17,962.42 paid to the FIA/CIK , so how many Australian drivers competed in FIA/CIK Trophies and Cups overseas during the current financial year ??? ???? Anyone know ??? Divide that by $250 and thats how many entrants from Australia raced overseas during the year in a proper CIK event ...71 ....?????
I tell you this tho .!!..the Cash Sales guy owes the AKA $63.361.98 ...!!! ...anyone know who the CashSales guy is ?????????? , all the other debtors are identified but cash sales just keeps on increasing his debt and is in arrears big time...!!!!
I have to pinch myself when I see these figures, as its almost like the Federal and State Governments sort of spending and accounting ...!!!
Like always, these are my personal views obtained from issued documents ......and if you dont like them then look in the mirror..!!!
Anyone care to tell us all where these figures are so we cal all see them?
They certainly are not on karting.net.au...unless Im Blind.(.Thats a possibility).
If you need a copy just ask .... and Steve J is correct , they dont have to send them to a individual but if the Constitution that is still sitting as approved since 2005 was implemented then every licence holder would have a say - and be entitled as they would be the stakeholder ...but als , just let it deplete and the snouts be fed !!
steve,
I don't think even public companies are required to publish their financials in the media.
The AKA operates on a club style constitution and is therefore only required to provide it's members with the financials who in the AKA are the states.
And the clubs are the members of the states; that's why you have to seek the information from your club. State and club admin are pretty slick where that is concerned.
Graeme, I owned shares in FAI once who had Mr Williams and Mr Adler running the book
Sadly I did my dough. Public companies are required to lodge their financials and they are
Available for all to see.
If management team ( and I use that term loosely) haven't the proverbials to work in an environment
Of open disclosure then sadly this sport is in deep poop. I don't want or need to know what each individual
Earns ect but every club member and additionally AKA licence holder has a right and responsibility to know the
Financial state if this association. They are charged with running the sport on the members and licence holders
Behalf. Financially they do not have the capability or ongoing financial means to do so then all
Stakeholders had damn well better know before the association is declared insolvent.
This c#*p of hiding financials from karters may not be illegal but it is certainly immoral unethical
And disappointing to say the least. Given the Leadership include 2 executive who have been found
Guilty in court From charges brought by ASIC directly related to this sport I have to say it doesn't
Surprise me.
Sadly the majority of Karters it seems well happily allow people convicted of crimes to continue to drive
This sport even if it is driving of the edge of a cliff.
It was the ACCC rather than ASIC. Transparency and accountability is the fundamental issue; there is none; and there is none for a reason. Make sure you get the financials from your Club Committee
Ross Dunkerton (call me Dunks) said:
Graeme, I owned shares in FAI once who had Mr Williams and Mr Adler running the book Sadly I did my dough. Public companies are required to lodge their financials and they are Available for all to see.
If management team ( and I use that term loosely) haven't the proverbials to work in an environment
Of open disclosure then sadly this sport is in deep poop. I don't want or need to know what each individual
Earns ect but every club member and additionally AKA licence holder has a right and responsibility to know the
Financial state if this association. They are charged with running the sport on the members and licence holders
Behalf. Financially they do not have the capability or ongoing financial means to do so then all
Stakeholders had damn well better know before the association is declared insolvent.
This c#*p of hiding financials from karters may not be illegal but it is certainly immoral unethical
And disappointing to say the least. Given the Leadership include 2 executive who have been found
Guilty in court From charges brought by ASIC directly related to this sport I have to say it doesn't
Surprise me.
Sadly the majority of Karters it seems well happily allow people convicted of crimes to continue to drive
This sport even if it is driving of the edge of a cliff.
Ross
Send me you email and I will send you the financials ... info@rvengines.comRoss Dunkerton (call me Dunks) said:
Graeme, I owned shares in FAI once who had Mr Williams and Mr Adler running the bookSadly I did my dough. Public companies are required to lodge their financials and they areAvailable for all to see.If management team ( and I use that term loosely) haven't the proverbials to work in an environmentOf open disclosure then sadly this sport is in deep poop. I don't want or need to know what each individualEarns ect but every club member and additionally AKA licence holder has a right and responsibility to know theFinancial state if this association. They are charged with running the sport on the members and licence holdersBehalf. Financially they do not have the capability or ongoing financial means to do so then allStakeholders had damn well better know before the association is declared insolvent.This c#*p of hiding financials from karters may not be illegal but it is certainly immoral unethicalAnd disappointing to say the least. Given the Leadership include 2 executive who have been foundGuilty in court From charges brought by ASIC directly related to this sport I have to say it doesn'tSurprise me.Sadly the majority of Karters it seems well happily allow people convicted of crimes to continue to driveThis sport even if it is driving of the edge of a cliff.
Peter,
May not be illegal but if done am sure the poster will feel other forms of scorn. Plus there are pages of the stuff. Also good chance for the general karter to use the system to get the info and see for themselves whats being said by those who know.
Its not only the figures, but the areas its being spent as RV asks WHO is cash sales???? and why so much money??? etc thats the real test for the system answering those questions, now THAT will be a test of th system, getting answers.
Steve,
I understand the state collects the whole fee keeps its portion and passes the rest onto National, thats why licences fees vary in each state.
Ladies and Gentlemen,
Why is it that every time someone posts a topic like this, we all respond enthusiastically?
We KNOW we are being screwed.
We KNOW the AKA have lied, threatened, misappropriated and generally corrupted this sport.
We KNOW they hold the Australian Karting fraternity in utter contempt.
We KNOW that the AKA are responsible for bringing the sport of Karting into disrepute.
So, why do we still bother (asking myself too, so don't shout too loud).
What I would like to know is . . . How the Hell can Cash Sales be a debtor????
Cash sales are Sales paid by CASH - you know, foldies, readies, coin of the realm. Bankable immeadiately.
Or am I missing something?
Any cash sale would have the following journal entry:
Dr Cash $xxxx
Cr Sales. $xxxx
The only circumstance I can think of where cash sales are receivable (I.e. a debtor) is where a member of the executive has received cash on the association's behalf and is yet to bank it at the end of the reporting period. Understandable at a club level, but at a national level...