Its High Time for a Head Shake at the CSA

[Jacko]

A lot of people whine about the support behind the elite teams in Canada but yet when an additional $5 was asked by the CSA, the provinces, clubs & parents turned it down. Unfortunately, we still have a predominant view of football as mostly recreational sport only.

An extra $5 per player for what??? So they can invest in another GIC or upgrade to the Presidential Suite on their next trip to Morrocco or how about another translator or two....can't have enough of those...

CSA has 3.3 million in liquid funds according to the financial statement they certainly don't need to increase their cut.

[Vic]

First time I've ever heard a line of credit called liquid funds. The next time my accountant looks like he needs a laugh I'll try that one on him. The 1.5M is reserves for our bid hosting. Going to FIFA to host a major tournament with 39 cents in your pocket never works out to well.

Youth funding was one of the major components of $5 proposal.

[The Ref]

Liquid Funds refers to Assets which can be quickly liquidated into cash.

[Vic]

Exactly. And there's never been a single financial statement that records a line of credit as an asset. Like I said, best tried when your accountant needs a laugh.

[Jacko]

First time I've ever heard a line of credit called liquid funds. The next time my accountant looks like he needs a laugh I'll try that one on him. The 1.5M is reserves for our bid hosting. Going to FIFA to host a major tournament with 39 cents in your pocket never works out to well.

Youth funding was one of the major components of $5 proposal.

Talk about word games. You are having trouble interpreting the financials so let me help you.

$1.8 million is cash means just that cash. $1.5 million in the form of a GIC is of course highly liquid. Some GIC's are convertible to cash after 30 days, some Credit Union GIC's are convertible to cash at any time throughout the term of the GIC. GIC's are easily converted into cash by various other methods. In any case if you would just read the damn statements and stop making up stuff you would know that the GIC matured yesterday....yielding what????? CASH

So 1.8 million plus 1.5 million equals 3.3 million. ...I never once mentioned using the LOC in this calculation.

So please stop obfuscating and distorting the facts. Please stop towing the party line for an organization that is dysfunctional at best and wholly incompetent at worse.

[Vic]

"Because if you had you would have noticed that they ended the year with cash on hand of 1.8 million and had enough excess cash to purchase a 1.5 million GIC and have a 1.5 million credit facility which is untapped at their disposal."

You quoted 1.8 and two 1.5's and I read the thing too quickly the other day and now I can see your 3.3. My stupidity and apology. Honestly, I was more stunned you included a credit line to show financial position that it blanked the brain. Although I'm still not sure remembering the wrong 1.5 makes me an obfuscating, distorting CSA apologist. I've gone after them as much as I've supported them. You pick your moments I guess, and your constructiveness.

I just hope that this team does well at the World Cup because otherwise the after effects will be ugly indeed.

I'm proud of them all win or lose.

[Richard]

Please stop towing the party line for an organization that is dysfunctional at best and wholly incompetent at worse.

Of all people Vic is not known for towing the party line. Engaging in sensible, rational discussion for the most part, yes, criticizing the CSA constructively when appropriate, yes, but never towing the party line just for the sake of it.

Frankly with your denigration of the CSA and everybody associated with it in your posts here I am really surprised you entrust your daughter to the organisation at all, especially as you seem to abrogate your own responsibilities as a parent during that period too.

[Trillium]

Remember the bills from South Africa are to come, how many CSA types are in SA for 40 days on the CSA credit cards ?

There will be a lot of bills to come and some will have impressive dollar values attached.. justified by the drive to get 2015 Women's World cup.. which I do not think we can get based on the current stadia we have in Canada ( its Chiles to have in my opinion Jack Warner is not talking up our bid at all ).

Talk about word games. You are having trouble interpreting the financials so let me help you.

$1.8 million is cash means just that cash. $1.5 million in the form of a GIC is of course highly liquid. Some GIC's are convertible to cash after 30 days, some Credit Union GIC's are convertible to cash at any time throughout the term of the GIC. GIC's are easily converted into cash by various other methods. In any case if you would just read the damn statements and stop making up stuff you would know that the GIC matured yesterday....yielding what????? CASH

So 1.8 million plus 1.5 million equals 3.3 million. ...I never once mentioned using the LOC in this calculation.

So please stop obfuscating and distorting the facts. Please stop towing the party line for an organization that is dysfunctional at best and wholly incompetent at worse.

[Bill Spiers]

CSA has 3.3 million in liquid funds according to the financial statement they certainly don't need to increase their cut.

Keep in mind that the $3.3 million you refer to is as at a specific point in time - December 31st. Come the New Year, there are more expenses incurred and bills to be paid but one of the major sources of revenue - player fees from the provinces - do not come in until the May-September period. The CSA - like any business - needs a reserve to carry it over until the current year revenues start coming in.

[Bill Spiers]

Remember the bills from South Africa are to come, how many CSA types are in SA for 40 days on the CSA credit cards ?

There will be a lot of bills to come and some will have impressive dollar values attached.. justified by the drive to get 2015 Women's World cup.. which I do not think we can get based on the current stadia we have in Canada ( its Chiles to have in my opinion Jack Warner is not talking up our bid at all ).

I would guess that the World Cup in South Africa will have little or no impact on CSA finances!

The President and one Vice-President were in South Africa for a FIFA Congress just before the World Cup kick-off - and I'm sure they stayed for some of the games - but I doubt either were there for 40 days. And it is my understanding that FIFA covers all the expenses (they can certainly afford to do so).

[The Ref]

Keep in mind that the $3.3 million you refer to is as at a specific point in time - December 31st. Come the New Year, there are more expenses incurred and bills to be paid but one of the major sources of revenue - player fees from the provinces - do not come in until the May-September period. The CSA - like any business - needs a reserve to carry it over until the current year revenues start coming in.

Does the CSA consistently operates with a yearly break even budget or do they operate with deficit financing?

[Bill Spiers]

Does the CSA consistently operates with a yearly break even budget or do they operate with deficit financing?

If I recall correctly, the last few budgets have called for a surplus of $500,000. This is needed to work towards their target of a reserve equal to three months of operating expenses. (See page 36 of their last annual report).

[The Ref]

I do not have their annual report so I take your word for it. Am I correct to assume that the CSA is a not-for-profit society? As such they are not allowed to accumulate large reserves or large surpluses.

[Bill Spiers]

I do not have their annual report so I take your word for it.

You can read the Annual Report here.

and the Financial Reports here.

Am I correct to assume that the CSA is a not-for-profit society? As such they are not allowed to accumulate large reserves or large surpluses.

I believe they are incorporated as a non-profit organisation. And I believe that a rule-of-thumb for non-profits is that an accumulated surplus up to the equivalent of 12 months operating expenses is acceptable.

[navycyr]

I do expect CSA to make soccer their first and almost their lone priority. Of what I see and know, CSA already has diffifculties in putting up an internationally competitive program. I think they have enough taking care of soccer. I agree with those who said education is players and parents responsibility. Of course, I would be furious to see CSA planning activities like camps at particularly inappropriate times form an academic standpoint when there is no reason why it could have been postponed or advanced. They are responsible not to make the road tougher than it should be for athlete students. But there stop their responsibilty in my mind.

We have to make choices in life. School is very important but there are things to be learned elsewhere too particularly if you are part of a national sport program. My daughter will get into a very requiring soccer program next fall. We have talked with players already on the program and courses are already planned to take a little longer than regular students take to complete the academic program. Some had gone through in the regular time but with lower grades, exceptional ones with grades that allowed them to even be accepted in medecine. Talking over with our daughter we have made up our mind not to sacrifice soccer neither school but price to pay was to take a little longer. No extra costs beside getting eventually a year later on labour market. Decision was difficult to make tough since my daugter did want to have it all at first, good grades, elite soccer and completing school on regular schedule.

Yes it is tough to be a student and a high level athlete at the same time. Some might suggest to require athletes to achieve minimum grades in order to be accepted in elite programs. I personnaly disagree with that because it causes a prejudice to those who have great athletic abilities but none for studies. Eliminating them from elite program would only cause them more pain for not being as smart as others.

In a perfect world where there would be plenty of money, what a wonderfull idea to give those kids tutors ! Reality is that money is restricted and has to be put on CSA mission : soccer.

[Vic]

With 17yr olds counseling is a very good approach and talking to her and explaining the options and costs as you see them and letting her make a knowledgeable decision is a great job of parenting.

and Vic, I guarantee you its more than just Germany and the US that have pencilled in academic help to their youth budgets

.

Actually, I'm not sure either the Germans or Americans do provide any. I would expect all the programs including ours have study periods during camps in the school year, but I'm not sure anyone provides academics. They're not listed on anyone's staff. Someone referenced hockey but even with their bags of money I'm not sure they do it at the national program level either.

The pros and cons and costs would make a good research paper that could be relayed to Sport Canada. Even if it was just a set of guidelines. Perhaps it already even exists. They would have to be the ones to promote it nationally (and financially) across the board.