CSA 2017 Financial Statements

[BuzzAndSting]

Surprised it hasn’t been posted yet. 

Can’t wait to read some of the hot takes on this!

https://www.canadasoccer.com/files/CSA_Financial_Statements_2017.pdf

[jpg75]

Ugh. Burning through their cash position by running a deficit in 2017. Spent 4.7M on "Office of the Technical director, staging and sporting equipment" up 1.3M over 2016. 

edit: Had to post quickly. Have to also point out the obvious drop in revenue, "Commercial and other fees" fell over 6M. Wondering how much friggin' cash they made from the Mexico home match in WCQ plus selling the TV rights.

[BuzzAndSting]

1 hour ago, jpg75 said:

Ugh. Burning through their cash position by running a deficit in 2017. Spent 4.7M on "Office of the Technical director, staging and sporting equipment" up 1.3M over 2016. 

edit: Had to post quickly. Have to also point out the obvious drop in revenue, "Commercial and other fees" fell over 6M. Wondering how much friggin' cash they made from the Mexico home match in WCQ plus selling the TV rights.

I don’t think your first comment is necessarily fair. They likely had higher than normal cash reserves because of the WCQ campaign in 2016 so a drop was inevitable. They’ve also invested $8M in GICs which is smart.

[jpg75]

1 hour ago, BuzzAndSting said:

I don’t think your first comment is necessarily fair. They likely had higher than normal cash reserves because of the WCQ campaign in 2016 so a drop was inevitable. They’ve also invested $8M in GICs which is smart.

They spent the cash because they ran a deficit. The deficit is the problem. They could have cashed out some GIC's and the problem remains.

[BuzzAndSting]

1 hour ago, jpg75 said:

They spent the cash because they ran a deficit. The deficit is the problem. They could have cashed out some GIC's and the problem remains.

 Not necessarily, their revenue works in multiple year cycles so it’s likely they have surpluses some years and deficits others. Although I haven read previous FS recently so I’m not 100% sure.

[jpg75]

35 minutes ago, BuzzAndSting said:

 Not necessarily, their revenue works in multiple year cycles so it’s likely they have surpluses some years and deficits others. Although I haven read previous FS recently so I’m not 100% sure.

They have typically run tight budgets with minimal deficits/surpluses over the past decade of FS i've seen. Of course, WWC and U20WC statements excluded since they made big $$$ on those.

[BuzzAndSting]

3 minutes ago, jpg75 said:

They have typically run tight budgets with minimal deficits/surpluses over the past decade of FS i've seen. Of course, WWC and U20WC statements excluded since they made big $$$ on those.

So if they had a boon year in 2016 with higher than average cash on hand a negative balance the following year wouldn’t be so bad.

[jpg75]

2 minutes ago, BuzzAndSting said:

So if they had a boon year in 2016 with higher than average cash on hand a negative balance the following year wouldn’t be so bad.

They had a boon year from a one-off revenue source. That money needs to be safe guarded and spent on player development, starting the CPL or preparing/running the team in a professional manner in the lead up or during a WCQ campaign. Running a nearly 3M deficit the year after being eliminated is a poor use of funds.

[BuzzAndSting]

6 minutes ago, jpg75 said:

They had a boon year from a one-off revenue source. That money needs to be safe guarded and spent on player development, starting the CPL or preparing/running the team in a professional manner in the lead up or during a WCQ campaign. Running a nearly 3M deficit the year after being eliminated is a poor use of funds.

Where do suggest they should have cut?

[jpg75]

29 minutes ago, BuzzAndSting said:

Where do suggest they should have cut?

I have no idea, the categories are way too generalized. But in 2014 the budget excluding WWC revenue/expenses was 18M and balanced, that should have been the guidance.

[BuzzAndSting]

15 minutes ago, jpg75 said:

I have no idea, the categories are way too generalized. But in 2014 the budget excluding WWC revenue/expenses was 18M and balanced, that should have been the guidance.

Makes sense.

[Soefeia]

I will give you three guesses as to why expenditures increased unsustainably in 2017 and the first two do not count.

To be perfectly honest, I am very surprised that no one has put it together before.

[jpg75]

51 minutes ago, Soefeia said:

I will give you three guesses as to why expenditures increased unsustainably in 2017 and the first two do not count.

To be perfectly honest, I am very surprised that no one has put it together before.

Expenditures actually dropped by 1.5M in 2017, the big problem was the drop in revenue. We had a one-time bump in 2016 from 50K butts in the seat vs. Mexico and the sale of our foreign TV rights for the Mexico game and our 5 home games in the Hex (which turned out to be free money) which was obviously not repeated last year.

[Soefeia]

12 minutes ago, jpg75 said:

Expenditures actually dropped by 1.5M in 2017. The big problem was the drop in revenue, probably due to the huge bump from 50K butts in the seat vs. Mexico and the sale of our foreign TV rights for the Mexico game and our 5 home games in the Hex (which turned out to be free money).

Apologies as I was far from specific enough. It is more a case of an unsustainable increase in expenditures per event which does not show up in the total expenditures unless you are taking the number of events into consideration. 

In short, the decrease in expenditures was not nearly as large as was necessary in what was to be a much less busy year.

[matty]

@Soefeia OZ?

[BuzzAndSting]

3 hours ago, matty said:

@Soefeia OZ?

Even if they paid out the remainder of his contract there’s no way it would have been more than $1M. 3 years left at $150-250K.

[matty]

7 minutes ago, BuzzAndSting said:

Even if they paid out the remainder of his contract there’s no way it would have been more than $1M. 3 years left at $150-250K.

not his contract but overspending maybe

[BuzzAndSting]

1 minute ago, matty said:

not his contract but overspending on maybe

Oh like things he wanted? True, that’s possible.

[matty]

7 minutes ago, BuzzAndSting said:

Oh like things he wanted? True, that’s possible.

yea i just remember the one twitter rumour about him and finances. i don't believe the rumour was true (it border on accusing him of embezzlement) but the known reasons for his departure could hint at him overspending on things (bosses didn't like how things were being run) and Soefeia does touch on something with this MIB comment

On 5/10/2018 at 11:39 PM, Soefeia said:

Apologies as I was far from specific enough. It is more a case of an unsustainable increase in expenditures per event which does not show up in the total expenditures unless you are taking the number of events into consideration. 

In short, the decrease in expenditures was not nearly as large as was necessary in what was to be a much less busy year.

Could be a case of increased spending during men's camps combined with the number of friendly games played at home between both men's and women's sides, ect.

[jpg75]

I am signing up my daughter for Figure Skating, just noticed Skate Canada charges $35.65 in annual member fees.

Makes the CSA's $8 fee look like a pittance, eh? Of course the big fee levy is from the provinces, with the OSA gouging people $20 a head. Imagine of the CSA cut out the middle man and collected all of the fees and did all the admin. themselves? I guess no more provincial teams and other stuff, but that $20 x 500000 = $10M for just Ontario, or about half the CSA budget.

[BenFisk'sBiggestFan]

On 9/27/2018 at 6:24 PM, jpg75 said:

I am signing up my daughter for Figure Skating, just noticed Skate Canada charges $35.65 in annual member fees.

Makes the CSA's $8 fee look like a pittance, eh? Of course the big fee levy is from the provinces, with the OSA gouging people $20 a head. Imagine of the CSA cut out the middle man and collected all of the fees and did all the admin. themselves? I guess no more provincial teams and other stuff, but that $20 x 500000 = $10M for just Ontario, or about half the CSA budget.

Part of the registration fee for Skate Canada is insurance. Which is quite a bit more expensive for on-ice sports than it would be for soccer. 

[Blackjack15]

Looked over the PDF File on the CSA’s Financial outlook 

Are they able to hire a full-time chief scout? No one is asking them to have a network of tracking but clearly there are many reasons to why There’s a need for it.

Canucks Abroad on Twitter and the Voyaguers Forums are how past players and still today are being discovered, don’t want to say that’s sad but it is. I mean the hardcore fans are making their job easier for sure, It goes without saying that our U15 althrough our MNT would be better positioned 

[BuzzAndSting]

2 hours ago, Blackjack15 said:

Looked over the PDF File on the CSA’s Financial outlook 

Are they able to hire a full-time chief scout? No one is asking them to have a network of tracking but clearly there are many reasons to why There’s a need for it.

Canucks Abroad on Twitter and the Voyaguers Forums are how past players and still today are being discovered, don’t want to say that’s sad but it is. I mean the hardcore fans are making their job easier for sure, It goes without saying that our U15 althrough our MNT would be better positioned 

Consider the amount of effort The Vs and the Canucks Abroad put into finding and tracking Canadians, it’s not sad at all. The CSA could never justify the costs associated to do the job currently undertaken by a couple dozen volunteers. I’m glad we have such dedicated supporters who are willing to do this.