From: Angus French [firstname.lastname@example.org]
Sent: 20 April 2017 12:52
Cc: 'email@example.com'; 'firstname.lastname@example.org'; 'email@example.com'
Subject: ECF Junior Directorate – budget figures for 2017/18
ECF Junior Directorate – budget figures for 2017/18
In respect of the upcoming ECF Finance Council meeting and the ECF’s budget for 2017/18, I’m afraid I’m baffled by the figures given for the Junior Directorate and for the ECF Academy in particular. Please could you help me by answering these questions:
1. Misalignment of figures in the detailed budget spreadsheet. In the detailed budget spreadsheet (version 4), it looks to me as though the figures in the notes section of the ‘Junior’ sheet are misaligned with their row headings. Presumably, somewhere after row 64 (where the notes begin), columns B:I should be shifted up six rows. Would that be correct? If yes, Junior Academy budget figures for 2017/18 would be: Fees receivable - £35,833; JRT and other sponsorship - £18,000; Total income - £53,833; Expenditure - £67,502; Net expenditure - £13,699. Would those figures (which are identical to the figures presented at last October’s AGM, in the revised Budget C) be correct?
2. No income – and reduced expenditure for the Academy in 2017/18? The headline income figure for the Academy (cell G25 in the Junior section of the budget spreadsheet) shows as £0. I don’t understand this. Given that participant fees are £400 (including VAT) and given that the notes appear to have fees receivable at £35,833, shouldn’t there be a figure here? Similarly, the headline expenditure figure (cell G46) looks low at £22,000. Are the headline figures correct?
3. Reduced net expenditure for the Academy in 2017/18? Subtracting expenditure for the Academy from income gives a net expenditure figure of £22,000. But this doesn’t include the contribution from the John Robinson Youth Trust and sponsors. If this is £18,000 – as the notes appear to indicate – then I calculate real net expenditure to be £4,000. Would this be correct? If yes, it’s a significant improvement on the £13,669 previously projected for 2017/18 (which is also the figure which the notes appear to have). If net expenditure has been reduced by £10,000 this is excellent news – but I wonder it’s not reported anywhere? It would also be contrary to the impression given in the February Board meeting minutes (item 9) which, to my reading, indicate problems with the financing of the Academy.
4. Request for a detailed breakdown of income and expenditure for the Academy. Please could an itemised breakdown of income and expenditure be provided? I would like to see: fee income (and its derivation), contributions from the JRYT and sponsors, fees paid to trainers, fees paid to FIDE, accommodation charges and any other relevant sources of expenditure.
5. Support from the John Robinson Youth Trust. I see that the Finance Director’s report states (in the section ‘Requests from the Trust Funds’), “The Trustees of the JRYT have at the time of writing refused any larger amounts above their normal support”. I wonder: Has this had an impact on the funding of the Junior Directorate and the Academy in particular? Since the inception of the ECF Academy, can you say what funding has been requested from the JRYT and what has been received?
I am sorry for the directness of these questions but I think they need to be asked.
Angus French, Bronze Members’ Direct Representative
cc Christelle Hafstad (Junior Directorate Finance Manager), David Eustace (Director of Finance), Tim Herring (Finance Committee Chairman)