Accounting 101 by President Wheeler

[hshawwpba]

Interesting how the APBA June 30th, 2012 financials that Mr. Wheeler posted on the web site are now gone. Wonder if it had anything to do with the fact that he was bragging about breaking even for the year - end then ends up with a $165 K loss.
Yes I find it intersting that the people that are task with the responsibility of managing our association could have a minor over sight of 165K!
President Wheeler and his band of merry men posted a finacial statement to us the membeship just prior to the end of the year professing that the APBA would have a break even year everyone in the office was high fives to the team and what a great and bright future it was going to be with the crown project driving memebrship, income revenues, and with the presidents hard work and great management effort 2012 would be a break even year!!!
OOPs then there was a independent audit, by poeple that understand finacials and income and expense revenues.
Now it is easy to understand that a non business minded person/s may have missed a few expenses that would change bottom line numbers but from a breakeven to 165K loss, Really no Really!!! Oh yes I forgot it is not their money.
I am just glad they are not running my business, or in charge of my finances!
APBA unlike the local school systems we can not pass a tax levey to make up a short fall, but then again one would need to understand accounting and fiscal money management to avoid the slight over sight of 165K error in the bottom line.
I hope you are as concerned as I and others are that a oversight of 165K calls for the question on the future of the APBA and how many more times this team can rearrange the deck chairs while the good ship lolly pop is sinking under losses of this magnatude!
Now there is talk of selling the APBA office to regain revenues. let"s look back a few years into the history books, oh yes that was what was going on when the YOUNG TERKS took over APBA was renting office space and had no assests and now we are going to return to those days of yester year and sell off our assets and become renters again?
Some people never learn from others mistakes.
Forget the book that H14 offered to Mr. Wheeler during the annual meeting, his team needs to get to the local library and check out the book " accounting 101 for dummies" !!!
Grab a life vest! and enjoy the ride, R10 # 1487

[Racerkyle20]

man howard get off your high horse and get a better source. Speaking with Dan Wiener at the APBA national meeting he told me what the short fall was for 2012, but it wasn't 165K as you claim....Maybe calling Mr. Wheeler or Mr. Wiener and you can get a better answer.


Everything on the internet is true!- Abraham Lincoln

I do agree with you that the annual meeting could have been spent speaking about more important matters than the ASH nationals....

[hshawwpba]

man howard get off your high horse and get a better source. Speaking with Dan Wiener at the APBA national meeting he told me what the short fall was for 2012, but it wasn't 165K as you claim....Maybe calling Mr. Wheeler or Mr. Wiener and you can get a better answer.


Everything on the internet is true!- Abraham Lincoln

I do agree with you that the annual meeting could have been spent speaking about more important matters than the ASH nationals....

Well unfortunitly you need to learn that what you are told is not always true I did get this from a reliable source and I stand on these facts.
You my friend need to investigate the facts and get a better source of information staff. Remember there is not 1 person in jail that is guilty just ask anyone in there!
Have a great day!

[Big Don]

Howard, you nor I really know each other. You are terribly wrong to assume you know me because of Don. Just as I would be wrong to assume to know you based on the very little that I know of you. SO…let’s give each other a break and try to have a civil conversation. You and I assuming is like everyone assuming all the Pavlicks are good people when in fact we all know Mike is a jerk.

While it may be true that we lost a lot more than we were told back in June. From what I understand it’s because of some items that we had to write off. Yes the write off’s are still a loss, but there is more to the story than just you implying the merry men were lying to all of us or that it was an over sight. Well maybe they were …who knows but there is an explanation for it. My understanding is that one of the losses was because of us being ripped off by one of our own that we had contracted to make boats for us. Was all the do-diligent done prior??? Once again who knows. Bottom line is there is a reason. Hopefully we can get someone to give us the complete reason on here or on APBA.org.

I agree with you that it seems that information is very hard to come by at times.

I have talked to number of people and the talk of selling the building never came up. Does not mean that it has not been talked about I’m just saying that it has not come up in years as far as I know. But that is probably because I’m not in the inner circle as you think I am.

This does not mean I'm not concerned.

[raceright]

I can not comment on this cause i.ll get somemore red boxes

[nbass]

There is a simple way to answer all this, and move on

Most all organizations are required to have an annual audit. I assume APBA is no different. And, an organization that spends as much as APBA I assume it would be a creditable professional audit.

So based on the above, what are the real numbers.

Then move on to something productive.

R,
Neil

[hshawwpba]

Howard, you nor I really know each other. You are terribly wrong to assume you know me because of Don. Just as I would be wrong to assume to know you based on the very little that I know of you. SO…let’s give each other a break and try to have a civil conversation. You and I assuming is like everyone assuming all the Pavlicks are good people when in fact we all know Mike is a jerk.

While it may be true that we lost a lot more than we were told back in June. From what I understand it’s because of some items that we had to write off. Yes the write off’s are still a loss, but there is more to the story than just you implying the merry men were lying to all of us or that it was an over sight. Well maybe they were …who knows but there is an explanation for it. My understanding is that one of the losses was because of us being ripped off by one of our own that we had contracted to make boats for us. Was all the do-diligent done prior??? Once again who knows. Bottom line is there is a reason. Hopefully we can get someone to give us the complete reason on here or on APBA.org.

I agree with you that it seems that information is very hard to come by at times.

I have talked to number of people and the talk of selling the building never came up. Does not mean that it has not been talked about I’m just saying that it has not come up in years as far as I know. But that is probably because I’m not in the inner circle as you think I am.

This does not mean I'm not concerned.

As per your request, yes I don't pretend to know you, would love to sit down and have a beer with you and talk about the issues some day.And as for the Pavlicks I am sure they are good people that simply are misunderstood by others as I am. Now that being said someone needs to be held accountable it seems everyone at APBA is afraid to speak up and there is 1 person that is accountable for the APBA that is the President, Now that being said I am sure you will say oh wait the BOD is also involved in the dission making but to that my question is who elects the President?? It is not the memebers anymore!
This is a public company and we the memebers are the share holders and need to know who is responsible for wasting our money, and who made the dission to approve these expenditures and have them (as they should have at the national meeting) stand up and be accountable for their actions and dissions.
We the members need to be provided a true and factual financil statement (not a vinella spread sheet version as put out by the President prior to the annual meeting) and it should be quarterly, we should also be provided the facts on who is being paid commissions and who much programs are costing and what the true ROI (return on investment) is year over year.
There should be no long term contracts only year to year (people that run succesfull business know this) but the issue is our business (APBA) which every memeber has a stake in, is run by boat racer mantallity and not as a buisness.
How much farther can the membership fall and sanctions decline until the last buble of air puffs from the ships bow and it goes under???
There will and is other groups running races and providing the same (maybe better) oppertunites for those who enjoy the sport to compete and race. APBA only has 1 thing they don't have and that is the affiliation with UIM, but to 95% of the racers who cares about UIM only the H1 Group as they are getting 2 huge pay days racing overseas and what is the benifit to APBA?? Just a few memeberships and alot of risk.
Anyway watch the local Detroit listing for building for sale or sold in the coming months that question will be answered for you!!!
I am just saying----
Enjoy the ride good to rea your post, R10 #1487