Financial Report – Year Ended 30th June 2012

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Financial Report – Year Ended 30th June 2012

 

January 31, 2013 | members

 

The auditors sign-off was unintentionally omitted from the financial report (included in the December magazine) for the year ended 30 June 2012. This is regretted and therefore the entire financial report, including the auditors sign-off, is posted here.

 

Financial Report – Year Ended 30th June 2012

 

Eugene Reid

 

Treasurer

 

 

[DWF]

Financial Report – Year Ended 30th June 2012January 31, 2013 | members

 

The auditors sign-off was unintentionally omitted from the financial report (included in the December magazine) for the year ended 30 June 2012. This is regretted and therefore the entire financial report, including the auditors sign-off, is posted here.

 

Financial Report – Year Ended 30th June 2012

 

Eugene Reid

 

Treasurer

This is a link to the RAAus web site.

 

I can't get the report to show.

 

Can anyone else get it?

 

 

 

[Bubbleboy]

Seems some folk are frantically trying to get their house keeping in order before the impending meeting?

 

Scotty

 

 

[Tiger]

January 31, 2013 | members

 

The auditors sign-off was unintentionally omitted from the financial report (included in the December magazine) for the year ended 30 June 2012. This is regretted and therefore the entire financial report, including the auditors sign-off, is posted here.

 

Financial Report – Year Ended 30th June 2012

 

Eugene Reid

 

Treasurer

 

The post by the RAA treasure I would say is completly erronous. The so called financial report put out in the December Sport Pilot magazine quite clearly stated " In order to keep costs to a minimum, eight pages of technical explinations have been removed ..."

 

How can this then be an unintentional omission !!

 

The report that came out in December also indicated it was the auditors report signed by Eugene Reid Treasure & Steve Tizzard CEO. Neither are our associations auditor.

 

 

[Guest Andys@coffs]

Guys

 

Someones been playing over at RAAus...there are a number of historical news postings that for whatever reason are poping up as new posts....I havent looked at thme to see if they are changing anything or not, I dont think its an attempt to decieve as the original post that says the same thing is still further down the list.....

 

For a second I though, OMG! Eugene has said a second thing in the last 2 months but realised it was just a mistake and there was silence once again regarding finances at RAAus.......

 

I do not understand why the board has not called on Eugene to resign from the position. Im sure he has invaluable experience and a breadth of knowledge that RAAus can call on....just not as a treasurer! Surely he must understand that now??? Wouldnt it be better to voluntarily resign and go back to being a non exec board member rather than live in denial right up to the point that the rest of the board ask or more likely force him to resign, or the members in a few days time, say enoughs enough, get a real one!

 

Andy

 

 

[Riley]

GuysSomeones been playing over at RAAus...there are a number of historical news postings that for whatever reason are poping up as new posts....I havent looked at thme to see if they are changing anything or not, I dont think its an attempt to decieve as the original post that says the same thing is still further down the list.....

 

For a second I though, OMG! Eugene has said a second thing in the last 2 months but realised it was just a mistake and there was silence once again regarding finances at RAAus.......

 

I do not understand why the board has not called on Eugene to resign from the position. Im sure he has invaluable experience and a breadth of knowledge that RAAus can call on....just not as a treasurer! Surely he must understand that now??? Wouldnt it be better to voluntarily resign and go back to being a non exec board member rather than live in denial right up to the point that the rest of the board ask or more likely force him to resign, or the members in a few days time, say enoughs enough, get a real one!

 

Andy

Andy. I've stated previously and I re-iterate, the executive board obviously exist in an unsustainable bubble. Ultimately Mr Reid will revert to devoting all of his time and efforts towards being a CFI at a FTF on the southern half of the country (and on behalf of his present and future students I hope he has more success as a trainer than he's shown as an administrator and, without reservation, for the sake of the recreational aviation community's wellbeing, the sooner it happens the better). Shortly put Eugene, please go home because - like the tomcat said after humping the Tassie Devil, "I've enjoyed as much of this as I can stand." Were it not so serious it would be absolutely laughable. I'm confidant that when ego-masters and time-expired executive board members are eventually replaced, an effective and operational RAAus will surely evolve from all of this confusion! Riley

 

 

[Guest Error404]

Eugene's mother tragically passed away suddenly right at the time of the release of the financial reports and to be honest I'm not surprised that there are some discrepancies and I wouldn't blame him. Maybe someone should have stepped in to assist at the time sure, but it didn't happen. This all costs money, our money.

 

 

[rankamateur]

Eugene's mother tragically passed away suddenly right at the time of the release of the financial reports and to be honest I'm not surprised that there are some discrepancies and I wouldn't blame him. Maybe someone should have stepped in to assist at the time sure, but it didn't happen. This all costs money, our money.

I am very sorry for his loss and I am sure this was a huge impediment to restoring order to the disorder and pumping out an un-audited report, months after it could reasonably be expected to be Audited and then delivered. Keeping and managing financial records for any organisation needs to be a competent and continuous undertaking, not a frantic flurry of effort six months after the fact.

 

 

[rankamateur]

While we are being reasonable, I realise that it is now only seven months since the close of the accounting period in question. I stand by my statement that financial management and reporting must be handled competently and continuously, one month after the close with an AGM looming it should not be unreasonable to have papers to an auditor to allow time for any inconsistancies(if there were any) to be questioned and resolved by the auditor and their report recieved. It can't start to happen until the treasurer takes the first step.

 

 

[Tiger]

Correct me if I am wrong, but didn't Eugene's unfortunate family matters happen in November / December, some three months after the financial reports were signed and two months after the AGM. He didn't even have them at the AGM yet they were supposedly signed about three weeks previous to the AGM.

 

I cannot accept your excuses for Eugene Error404.

 

He must go as Riley has said.

 

 

[Guest Andys@coffs]

Eugene's mother tragically passed away suddenly right at the time of the release of the financial reports and to be honest I'm not surprised that there are some discrepancies and I wouldn't blame him. Maybe someone should have stepped in to assist at the time sure, but it didn't happen. This all costs money, our money.

What a crock!

 

Its true that his mother did indeed pass, but well after the obligation timelines had been, and continues, to be missed!

 

The AGM was in September last year, and here, we find advice that his mother has just died (around end of November), if the timing were reversed I guess its a straw you could clutch at but really, what do you reckon the invovlement in producing AUDITED results might actually have been. Even if he was involved its my opinion that would be like a cell biologist asking question about cell biology of a 5yr old. We saw the stunned look of Middo and Eugene when an Accountant at the AGM asked why what was provided was provided without teh auditors notes, and incomplete. Neither Middo nor Eugene in my opinion had any idea what or why he was saying what he did, it went completely over his head, people around me were just shaking their heads.

 

Ive said before its my opinion that, almost any intelligent person can be a secretary or a president of an organisation, however the treasurers position of an organisation as large as ours (financial quantum and complexity measure) requires life experience in manageing finances of a large organisation as a minimum, and better still formal accounting training, or an MBA or business degree exposure. As far as I know Eugene haqs none of that, and IMHO it shows!

 

Someone should have steped in..........Another piece of missinformation, the previous treasurer who is a CPA (or CA...not sure of the specifics) offered to assist the next treasurer prepare the results but given the friction between SR and Don Ramsay that was as likely in my opinion as Eugene being able to do them on his own. In fact SR choosing, pressumably directing, Eugene to ignore the offer has doomed Eugene to failure in my opinion, think saacrificial lamb and slaughter.....

 

So, pressumably your "Someone" doesnt include the very Someone among us who was most qualified and able to assist. Did you have some other someone in mind? Experience has shown that offering assistance to the current exec is as likely of acceptance as your chances of winning Lotto, they simply dont need your help!

 

Please check your facts before posting dissinformation as fact. Things in RAAus are complex and rarely as they might at first seem, its why we as a group are not out to "take over" or install an alternate board, or do any of those things that our opponents seem very capable of saying over and over without an atom of proof in email mailouts. Its been suggested that we are all SAAA plants.....My god what next, perhaps in reality we are all Soviet spys!!...oh hang on that was last century, just like the SAAA thing that Middo cant seem to get past! Oh and just so we dont avoid the question, No we have nothing to do with the SAAA and are not acting on their or anyone elses behalf we are merely concerned members!

 

Andy

 

 

[Guest Error404]

What's that saying about someone thought someone would do it, someone didn't and nobody ends up doing it or something like that????

 

 

[Tiger]

Here it is Error 404

 

This is a little story about four people named Everybody, Somebody, Anybody, and Nobody.

 

There was an important job to be done and Everybody was sure that Somebody would do it.

 

Anybody could have done it, but Nobody did it.

 

Somebody got angry about that because it was Everybody's job.

 

Everybody thought that Anybody could do it, but Nobody realized that Everybody wouldn't do it.

 

It ended up that Everybody blamed Somebody when Nobody did what Anybody could have done

 

 

 

[AlfaRomeo]

But in this case, it was the responsibility, in order, of Treasurer Reid, Executive Runciman, Middleton and Reid and then the whole Board, and, 404, as you say, none of them did it.

 

Some 7 months after the end of the financial year, nobody in RAA has had a full set of audited accounts sent to them. They are as a Board wholly accountable for this breach of the Law, our Constitution and the Deed of Agreement with CASA. they will be held accountable by the members on 9th Feb and subsequently, by the ORS, by CASA and could even come to the attention of ASIC.

 

Yet Runciman in his letter to the Editor of SportPilot said words to the effect of that we we're a bit late and we'll try to do better. They don't seem to accept that compliance with the LAW is not optional, it's a lot like landing - it is mandatory.

 

 

[SilverWing]

Links on this and RAAus website do not work - any ideas?

 

 

[Guest Andys@coffs]

Links on this and RAAus website do not work - any ideas?

The link on the RAAus New site to the financials dont work.

If you email me at [email protected] I'll send you a copy of the audited results for 2012 and a summary excel spreadsheet put together by another on this forum that contrasts last FY with those that went before it.

 

The full audited report for FY12 ias too large to put up here.

 

Alternately, ring the office and ask for a copy to be sent out and the link to be fixed.....Eugene updated the link but its broken.......expecting more?

 

Andy

 

 

[fly_tornado]

google docs andy, google docs

 

 

[DWF]

From our constitution:

 

"15. Treasurer

 

......

 

(iv) The Treasurer shall produce a financial statement of accounts twice yearly and publish to

 

the membership, the first occasion being not more than 30 days after the end of financial

 

year, thereafter 6 months later."

 

Has anyone seen the financial statement of accounts due by the end of Jan 2013?

 

 

[David Isaac]

..... Has anyone seen the financial statement of accounts due by the end of Jan 2013?

No because they have never been issued to the membership as required by the constitution and the law.

[AlfaRomeo]

I could be wrong but I thought we got a half-year financial report last year with the Magazine? Or did it just go up on the website?

 

 

[Guest Andys@coffs]

David, I think the one he was talking about is the mid term report that was introduced as a constitution change at about, or just after the fiasco with I think it ws Dave Caban and the proposed vote of no confidence in him regards his work, or lack thereof, as treasurer.

 

I seem to recall that Don suggested that it was a constitutional change that was impossible for the trweasurer to comply with?

 

But thats all speculation

 

Andy

 

 

[AlfaRomeo]

Not at the Half Year - that's a doddle. End of year is not impossible either just difficult. Actually takes a bit of planning and consultations with the external accountants. The Rule 15 could be better written but even in its current form it is doable.

 

 

[John G]

Hi Everyone,

 

Due to a lot of requests by RA-Aus members in my local area I have decided to bite the bullet and attend the RA-Aus General Meeting at Queanbeyan on the 9th February.

 

I have had a number of people who trust my judgement request that I act as their proxy at the meeting.

 

I am happy to accept any proxies from members of this site who have not as yet made up their mind as to who should hold their proxy vote.

 

If you would like me to hold your proxy vote you need to complete it and Email it to me before Friday.

 

My details are:

 

Email

 

[email protected]

 

Details of proxy Holder: John Gardon

 

PO Box 154

 

Wardell NSW 2477

 

Member #5334

 

You also need to select whether you wish me to vote in a particular way on each question; or how I see fit, if you trust my judgement.

 

In addition to sending it to me, you need to send it to

 

[email protected]

 

by 09:30 on Friday or I suspect that it will be judged invalid.

 

Regards,

 

John Gardon