Great News about USCF Finances
I got news for you. The monthly financial reports which big shots like
me get to see but lowly peons like you cannot view yet are being kept
from you for your own good, because they are full of holes.
For example, the cash situation looks like it has improved greatly.
However, that is only because the "donation" of $50,000 received from
Frank Berry has been booked in as cash but there is no offsetting
debit. That $50,000 donation is not really a donation. It s to be used
to pay the prizes for the US Championship to be held May 15-23, 2007,
so that is not really our money.
Similarly, the $1000 we receive from people joining as life members is
being booked in as current income and is not being transferred over to
the LMA as it is supposed to be.
So, the reality seems to be that we did not have a surplus (or profit)
for February of $73,459 and we are not losing ONLY $168,223 for the
year.
We could be headed for an all time record loss, the mother of all
losses.
Here again, the weak minded board members are unwilling to take the
steps that obviously need quickly to be taken to rectify this
situation.
Sam Sloan
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