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FAI Finances thread |
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BrenC 
Davey Langan 
Joined: 21 Oct 2010 Status: Offline Points: 856 |
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 Posted: 28 Nov 2014 at 4:47pm |
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Seany they wouldn't count as ye can't capitalise people's skills. Can't be certain they will stay working for you so doesn't meet accounting standards level of certainty that the value of the intangible is realisable. Same for any business.
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Team Emmet
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Junior
Kevin Kilbane 
Joined: 03 Jun 2009 Location: Manchester Status: Offline Points: 485 |
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Posted: 28 Nov 2014 at 4:56pm |
The 88m is 99.9% linked to the stadium. circa 0.2k linked to intangible software but the remainder is the FAI share of stadium costs.
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seanyshuffler
Jack Charlton 
PM snitch Joined: 09 Jun 2011 Location: Ireland Status: Offline Points: 9538 |
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Posted: 28 Nov 2014 at 5:04pm |
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Thanks guys!
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seanyshuffler
Jack Charlton
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Posted: 28 Nov 2014 at 5:20pm |
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I know I mentioned about the case of Nigeria and how the government couldn't interfere with the association. However, it appears that national associations are not only accountable to FIFA but also governments, due to public funding they receive.
http://sports.peacefmonline.com/pages/soccer/201409/215536.php |
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roverstillidie
Jack Charlton
Bohs number 1 fan Joined: 25 Jun 2011 Status: Offline Points: 8529 |
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Posted: 28 Nov 2014 at 6:30pm |
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If anyone is daft enough to write to tds over the FAI be very sure. The first sign of political interference and we are out of the euro qualifiers and LoI teams bounced from Europe. You don't know more than the auditors who signed off on the accounts.
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seanyshuffler
Jack Charlton
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Posted: 28 Nov 2014 at 6:44pm |
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There's a difference between the government intervening like Nigeria issuing court orders and a government committee asking for clarity on certain topics.
Edited by seanyshuffler - 28 Nov 2014 at 6:45pm |
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Stillhuntinghenry
Jack Charlton
useless at posting links Joined: 23 Nov 2011 Status: Offline Points: 8149 |
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Posted: 28 Nov 2014 at 6:49pm |
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Yeah pretty sure the FA have been pulled up in front of select committees in the past
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"Not one cent" - RTID on Mark Quigley's pay-off from Shamrock
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roverstillidie
Jack Charlton
Bohs number 1 fan Joined: 25 Jun 2011 Status: Offline Points: 8529 |
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Posted: 28 Nov 2014 at 6:50pm |
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Is there? How is the latter not political interference?
There is a difference between the dept asking a question and pac Edited by roverstillidie - 28 Nov 2014 at 6:50pm |
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gufct
Jack Charlton
Trapattoni could manage me any day! Joined: 15 Feb 2009 Location: Ireland Status: Offline Points: 6518 |
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Posted: 28 Nov 2014 at 7:16pm |
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There is public monies paid over to the Fai so enquiring on their finances is not political interference.
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One City,One County,One Club GUFC will be back.
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BrenC
Davey Langan
Joined: 21 Oct 2010 Status: Offline Points: 856 |
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Posted: 28 Nov 2014 at 8:45pm |
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Ye sports bodies are called before committees all the tome. It would just make them actually answer questions.
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Team Emmet
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greengooner
Liam Brady
Joined: 03 Apr 2007 Status: Offline Points: 1376 |
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Posted: 01 Dec 2014 at 10:07am |
If any corporate or charitable body receives public monies then the Government of the day has the right and as far as i'm aware the responsibility to ensure that the money being given to them is being used responsibly. Where your inaccuracy lies is possibly if the Government were to insist on appointing someone as Centre Forward, or manager, or appoint a CEO. Then and only then could there be accusations of government interference. Public money is owned by the public, and the Dail are responsible for safeguarding it's use. Anyway here we go with teh questions 1. Is M Wallace on the national FAI council the same M Wallace TD? If so, what is his position on the recent situation? 2. There is a lot of conjecture here about what the "Intangible Assets" figure relates to. Can anyone establish for FACT what it is made up of For instance, if it is made up of "the Stadium" value, why are the IRFU not showing similar stuff in their Balance sheet if it is made up of coaching staff/management staff, again, why are the IRFU not showing up similar stuff in their Balance Sheet? FAI 88 Million IRFU NIL Both are professional sports, with branding concepts. Both use the Aviva Both operated a joint venture on the stadium Something is not adding up here. Or perhaps i'm missing something. Anyway, we need someone like this to clarify...!!  Edited by greengooner - 01 Dec 2014 at 10:09am |
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Platini are you listening
You'd better keep your trophy glistening Cos we'll be over next year To drink all your beer, Walking in an Irish Wonderland. |
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BrenC
Davey Langan
Joined: 21 Oct 2010 Status: Offline Points: 856 |
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Posted: 01 Dec 2014 at 10:25am |
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My understanding is that after 60 years the IRFU own Aviva outright - FAI would then have to pay rent if they want to keep using it.
Therefore the Aviva is a fixed asset owned by IRFU in their accounts which will depreciate with wear and tear. In the FAI accounts, their interest in the stadium is a right to use if for 50 plus years which decreases in value (logically) each year - hence the FAI's interest is an intangible rather than a tangible asset. Haven't looked at both accounts so may be wrong.
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Team Emmet
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Devrozex
Jack Charlton
Joined: 23 Oct 2010 Location: Dublin Status: Offline Points: 7676 |
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Posted: 01 Dec 2014 at 10:45am |
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Therefore the Aviva is a fixed asset owned by IRFU in their accounts which will depreciate with wear and tear. In the FAI accounts, their interest in the stadium is a right to use if for 50 plus years which decreases in value (logically) each year - hence the FAI's interest is an intangible rather than a tangible asset. Haven't looked at both accounts so may be wrong. Obviously I am not privy to all the details, but John Fallon’s Sunday Business Post article revealed that circa. €20m in interest payments alone has been paid by the FAI in relation to the Aviva due to the lack of success of the ten year premium ticket sales. Then once the 60 year period is up the FAI will have a 0% stake in the asset….none of this is sounding very good at all to me! The fact that the Delaney/ the FAI have refused to allow any questions from the press after their AGM for the second year running tells an awful lot imo. Worrying times indeed. |
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greengooner
Liam Brady
Joined: 03 Apr 2007 Status: Offline Points: 1376 |
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Posted: 01 Dec 2014 at 10:52am |
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OK so 88 Million of the Assets on the FAI balance sheet relate to the availability of the stadium?
In effect this "Intangible Asset" is a Rent Prepayment of 88 million over a 60 year period?   Whereas short term Debts of 25 million were to be paid in 2014??? Can anyone recall if those debts were cancelled/put on the long finger etc- did the AGM reveal that? There is a word going round and round in my head at the moment, the more I look at the balance sheet....... WHAT was the exceptional item of 10 million in 2013? would normal accounting procedures not have a "Note to the Accounts" explaining what it is/was? Very
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Platini are you listening
You'd better keep your trophy glistening Cos we'll be over next year To drink all your beer, Walking in an Irish Wonderland. |
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BabbsBalls
Moderator Group
Joined: 12 Feb 2009 Location: Ireland Status: Offline Points: 10223 |
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Posted: 01 Dec 2014 at 11:03am |
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This was posted on the other thread .....
RULE 17. ROLE OF THE HONORARY TREASURER 4. The Honorary Treasurer shall, together with the Director of Finance, sign off the expenses of the Chief Executive Officer, the President and other officers. The Honorary Treasurers expenses shall be signed off by the Chief Executive Officer and the Director of Finance. |
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l hear you are a racist now, father ?
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greengooner
Liam Brady
Joined: 03 Apr 2007 Status: Offline Points: 1376 |
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Posted: 01 Dec 2014 at 11:44am |
So, A and B will sign off on C's expenses. B and C will sign off on A's expenses Do A and C sign off on B's expenses? There's a triangulation here isn't there??  |
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Platini are you listening
You'd better keep your trophy glistening Cos we'll be over next year To drink all your beer, Walking in an Irish Wonderland. |
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BabbsBalls
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Posted: 01 Dec 2014 at 11:59am |
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It's a cosy policy that suits everyone alright .
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l hear you are a racist now, father ?
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greengooner
Liam Brady
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Posted: 01 Dec 2014 at 12:42pm |
I got a copy of the FAI's full Accounts from www.cro.ie just now. .....for what it's worth...
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Platini are you listening
You'd better keep your trophy glistening Cos we'll be over next year To drink all your beer, Walking in an Irish Wonderland. |
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seanyshuffler wrote: