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#Post#: 353--------------------------------------------------
Fun With Numbers
By: Ladytkd Date: July 29, 2014, 9:10 pm
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Still no coaches' list, still no staff report since April, no
minutes of the June meeting - and last night's call was
postponed. So to amuse myself, I decided to spend a little time
on the Jan - Apr financials. The reports in the meeting minutes
were much more helpful than usual. Thank you Marco! It would be
helpful to know if the budget figures are for Jan-Apr or for the
entire year.
First I found only $9915 as income from the Aspire Camps, but
those in the know say there had to be $20,000 or more before the
end of April that had been given to the USAT. So I looked
around and found $9100 in income in Athlete Development Camps.
But the Camps had no expense. How is that? Camps have expenses
like plane tickets, rooms, food, gear..... So I think that one
of two things happened here, either USAT placed it in the wrong
category accidentally or they did it on purpose to misdirect the
funds. My vote is it was a mistake.
I also discovered the USOC gave the USAT $1500 for the USAT BOD.
Not only that, I discovered that the BOD has paid the USAT
attorney $3682.68 for the four months, around $940 to sit in on
BOD meetings - per month. With only an $8000 budget, they will
be over budget before the end of the year.
By April, USAT was over the Airline Travel budget by $18.369.35.
Wonder why? A lot of staff going to events?
Apparently USAT expected a lot more money from the States than
they received. USAT collected $66,020 in State Dues and Fees
but budgeted that it would receive $83,600 - $17,580 less than
budgeted for income. Each of the categories under states was
under budget, Annual Dues ($3,400), Sanction Fees (4,250) and
On-line registration fees (58,370).
In fact, if you jump to the bottom line on income, the USAT took
in $1,653,283.39 instead of the $1,936,283.28 they budgeted for.
On the expense side, the BOD spent $2852.00 on Director's and
Officer's insurance. Add that to the attorney fees, that BOD is
getting expensive. All in all, the BOD spent $19399.47 in
expense for the BOD including $1305.25 allocated for overhead.
Wonder how they came to that figure?
Apparently Head Coach expense is down considerably. Looks like
$60,000 a year. They did budget $32,166.64 but spent $19,999.98.
Other interesting notes - $10,291.63 for athlete stipends.
$129,403.54 for Rooms and Lodging. Of that $21,637.00 was for
OTC.
$9315.51 for meals - out of a $46,640 budget.
Venue buildout - $5032.40 more than the $13,500 budgeted.
Expenses were $138,903.61 under budget. This is good unless the
budget is for the whole year and not just for January through
April.
The USOC gave the National Office $9028.96 for the office which
racked up $244,841.74 in expense. $163,882.40 of that was
payroll, not including $18,998.29 in payroll expenses.
Copying and Printing - $9,672.30, just $4862.36 over budget.
Administration received $10,528 from USOC in grant money but
spent $273,404.77.
Everyone always wants to know how much money USAT owes USOC -
answer $90,560!
Interesting, KKW's had $37,833 in expense but I can't find the
income from the KKW's. It may be lumped in something else, but
hard to tell. Maybe Certification Fees, but that class breaks
down to seminars and workshops.
Battery about to die - more on USOC grant money allocated but
not spent yet apparently later.
#Post#: 356--------------------------------------------------
Re: Fun With Numbers
By: Ladytkd Date: July 30, 2014, 8:04 pm
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Question, if things like membership are nice round numbers with
no cents, and fees for seminars are nice round numbers etc...
how it is that all these categories on the income statement are
not divisible by the fee amount? Where do all these $.57's fit
into this. Membership income - $239,337.57. Now some of that is
Club - $135 and some of it is individual which is $35 or
sponsor which is $20. So basically any number has to end up
divisible by $5 and leave no fraction. So how did they get
there? Did they miscode items? Move income from somewhere
else? That is possible. I remember being on the USTU BOG
looking at the financials, and it had the previous quarter
numbers, which changed. What they had done was re-classified
items to and from categories that were under budget to and from
categories that were over budget and were going to raise
eyebrows. But seriously guys, how do you get a membership
income number that can't be divided without a fraction by 5?
Now USAT has listed it has $510,528.96 in USOC Funding. Ok.
Now, there is $311,776 in Sponsorship money. What is the
Sponsorship money. I tracked $50,000 to High Performance
Budget. more puzzling $1320 went to Overhead - who would sponsor
Overhead for Events. Also getting Sponsorship would be the US
National Teams - $456. Yes, that is not a typo.
And lastly even more puzzling - $104,500 for the US Open. Maybe
this is correct, and maybe I just missed an explanation, but the
US Open took in $375,030.40, including the "sponsorship." The
US Open expenses totaled $308,445.54 leaving a profit of
$66,584.86. But if you deduct the sponsorship - the US Open
lost $37,915.14.
If it were sponsorship from the USOC, wouldn't it be in category
4012, USOC Funding?
Fundraising appears to be $1244.89 which is less than the
donation made by the fundraising efforts before the Aspire Camps
were introduced as the savior of the junior and cadet teams.
Just answered my own question which was how is it the top 50
Athlete Support, which has $50,000 in USOC Funding has only
$10,291.83 in "FEES!" I did track that one down. I don't know
who set up this chart of accounts as some of it makes no sense
at all, but it is 50047 Fees - Athlete Stipends.
I am confused on how World Cup which has no income and only one
expense has $185 in medical supplies. hmmmmm
Another confusing entry - the Grand Prix Final which is in
December has $38,166 in USOC Funding. It has exactly one
expense, which I wouldn't expect many since we don't know if
anyone will be going to the Final, but hope springs eternal.
Under this one $131.48 for Airline Travel. I don't think that
would pay an airline ticket anywhere, except maybe on a super
one way special for Southwest from Houston to Dallas? Another
potential miscode?
Grand Prix #1 and #2 have USOC Funding of $38,167 each. No
expenses shown for the first Grand Prix, guess they used VIK
airline tickets or they bought the tickets after 4/30/14.
Pan Am Championships gets a whopping $30,000. There is a
National Team International Exchange USOC is kicking $15,000 to
USAT.
This one is fun - Jr. Pan Am Championships has a negative
($1,450.65) on Airline Travel. So either it was a miscode or a
refund. But who has seen a refundable plane ticket recently?
Future Stars Intl Exch/Camp has $15,000 in USOC money,
$30,915.59 in plane tickets, $270 in insurance, $1378,58 in
Rooms and Lodging and $1085 in Visa & Travel Services - losing
only $18,649.17.
Youth Olympic Games appears to have no income, no USOC funding
(very strange), and $15,923.86 in airline travel and rooms and
lodging. Think about that one....... It is coming up in August
and by 4/30 they spent $15,923.86.
Cadet Worlds got no USOC Funding. There was a nice $3000
donation which they have already used to offset $2678 in
expenses.
USOC has kicked in $15,000 to Sports Medicine and & Science plus
another $5000 making a total USOC donation of $20,000 to sports
medicine.
Someone got $1701.96 for National Training Site Visits.
Events Overhead is an interesting category. Income includes the
$66,020 from State Dues and Fees, which is the majority of the
income for Events Overhead. Expenses include $25 for airline
travel (THAT'S A CHEAP TICKET!), $11,519.49 in Contract
Services. Here is a really weird one - $17,339.12 in Finance and
Bank Charges - on Events Overhead. seems high to me and that is
only Jan-Apr. So far Events overhead totals only $40.979.49 and
has a profit of $31,925.
Team Trials took in $71,484 in entry fees (how do they get that
number? And total income $72,7872.84. Expenses $83,622.60
losing $10,749.76. $31,294.69 of that in rooms and lodging,
$28,695.10 in Contract Services, $14,516.10 in Airline travel.
Ok, that all the fun I can have with this set of numbers. Maybe
they will post the June meeting notes with updated financials
and we can see how they compare!
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