Ottawa U18 Part 4

[nothappy]

HEO Midget AAA released a financial statement on their website.

Home Page

Just look at two lines
Line #2 Revenues, Players Registration
The league takes in revenue that exceeds 1.1 Million each year for 5 years
Line # 36 Operating Cost per Team (Average)
The team average expenses are $62,310.00 at the highest per team for one year.
Quick math 1.1 x 5 years =5.5 million revenue. Team operating cost $62,310.00 x 12 teams x 5 years =$3.7 million
Has the CCHL, HEO Minor and the HEO Midget AAA BOG been overcharging the players and parents of the HEO Midget AAA league? Looks to me like somebody made $1.8 Million from the HEO Midget league.

 

[BigHitter67]

HEO Midget AAA released a financial statement on their website.

Home Page

Just look at two lines
Line #2 Revenues, Players Registration
The league takes in revenue that exceeds 1.1 Million each year for 5 years
Line # 36 Operating Cost per Team (Average)
The team average expenses are $62,310.00 at the highest per team for one year.
Quick math 1.1 x 5 years =5.5 million revenue. Team operating cost $62,310.00 x 12 teams x 5 years =$3.7 million
Has the CCHL, HEO Minor and the HEO Midget AAA BOG been overcharging the players and parents of the HEO Midget AAA league? Looks to me like somebody made $1.8 Million from the HEO Midget league.

Doesnt 1.8 million over the 5 years split among 12 teams work out to about ~30 grand a year for each team?

 

[nothappy]

Doesnt 1.8 million over the 5 years split among 12 teams work out to about ~30 grand a year for each team?

yes but i would say the number is larger than 30 grand. that amount comes right of the bottom line of a CCHL team. might be the reason CCHL teams sell for 1 M after U18 and 400K before U18.

 

[Porter Stoutheart]

Doesnt 1.8 million over the 5 years split among 12 teams work out to about ~30 grand a year for each team?

Isn't $30k per team about $1500 per player? Don't know what the registration fees are but that's a fair chunk of extra change if it's supposed to be a non-profit league (maybe it's not).

 

[nothappy]

The HEO Midget AAA published a cash flow statement on its website but still will not allow the parents to ask questions about money. The statement is very creative bookkeeping and allows for money movement from HEO Midget AAA to the CCHL with no accounting. The second largest item, pay of employees is exempt from accountability.

 

[nothappy]

The new interim BOD for HEO is the same group of people that will not answer any questions about the Midget AAA league and its finances.
Hold on to your wallet parents you are about to get robbed again.
More money to look after does that mean more money missing soon?