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Old July 19th 08, 01:14 AM posted to rec.games.chess.politics
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Default Questions for Bill Hall and Grant Perks


chessoffice wrote:I just received this email from Bill Hall.

Bill Goichberg


To the USCF Executive Board:

The audit is winding down and we should have a Draft for circulation by
Tuesday. The bottom line should show a loss of $53,000. Although
you never can be happy with a loss, considering the extra expenditures
for Spectrum (and the profit-sharing plan), increased legal expenses, a
significant
write-off in inventory, and some significant losses on two
investments, I
believe we did not do too poorly this year. With us heading into summer
months, cautious cash management and conservative spending will be
stressed.

June had a loss of a little over $37,000 compared to a loss of over
$86,000
last year. This next week we will be breaking the budget down into
a monthly
distribution so we can make those comparisons. I will send out the June
information next week.

Have a nice weekend.

Regards,


Bill Hall
Executive Director
United States Chess Federation
P.O. Box 3967
Crossville, TN 38557-3967
Phone: (931) 787-1234
Fax: (931) 787-1200
----------------------------------------------------

Bill and Grant, did the auditors verify the amounts for the deferred
memberships from the accounting base or the membership base? Is
management still looking to borrow $50,000 from the LMA? Has the USCF's
$150,000.00 line of credit been reduced by the bank? How much of that
line of credit (with whatever maximum credit line) is still available to
the USCF?
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Old July 19th 08, 02:20 PM posted to rec.games.chess.politics
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Default Questions for Bill Hall and Grant Perks

Another question for the boyz. Has the $100,000.00 account receivable
from Chess Cafe been written off as noncollectable or is the USCF going
to try to collect all or some of it?

Brian Lafferty wrote:

chessoffice wrote:I just received this email from Bill Hall.

Bill Goichberg


To the USCF Executive Board:

The audit is winding down and we should have a Draft for circulation by
Tuesday. The bottom line should show a loss of $53,000. Although you
never can be happy with a loss, considering the extra expenditures for
Spectrum (and the profit-sharing plan), increased legal expenses, a
significant
write-off in inventory, and some significant losses on two
investments, I
believe we did not do too poorly this year. With us heading into summer
months, cautious cash management and conservative spending will be
stressed.

June had a loss of a little over $37,000 compared to a loss of over
$86,000
last year. This next week we will be breaking the budget down into a
monthly
distribution so we can make those comparisons. I will send out the June
information next week.

Have a nice weekend.

Regards,


Bill Hall
Executive Director
United States Chess Federation
P.O. Box 3967
Crossville, TN 38557-3967
Phone: (931) 787-1234
Fax: (931) 787-1200
----------------------------------------------------

Bill and Grant, did the auditors verify the amounts for the deferred
memberships from the accounting base or the membership base? Is
management still looking to borrow $50,000 from the LMA? Has the USCF's
$150,000.00 line of credit been reduced by the bank? How much of that
line of credit (with whatever maximum credit line) is still available to
the USCF?

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