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What Did the Audit Really Say?
Don't be fooled by fear-mongering
rumours.
Check the facts for yourself!
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What the
Audit Says: |
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Questions to ask |
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As a result of reading the
Audit Report, I changed sides!!!
It's a glowing report of achievement and success!
LOL If you don't believe me, and don't want to
read it, then just look what I found while googling - Notice whose
website it is on!!
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Here's the gist of the
report from my notes:
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ISQ is split into:
(1) The ISQ Figure Slating Association and
(2) the Ice Skating Association of Queensland No1. Trust (1979)
operated by Donald McKnight and Colin Jackson for 30 years.
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The ISQ is run by the Executive (3) plus five
(5) Councillors (see
ISQ
Structure)
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Don and Colin went guarantor for the first
rink purchased (Acacia Ridge) putting their own investments up as
collateral. In return, they were given the right to assume
responsibility for the rink to ensure against a negative impact to
their own personal assets which had guarantees the loan.
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There is a "a rigorous budgeting process".
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"The Trust is obviously well managed".
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It has a long history of success, especially
compared to other commercial rinks.
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All profit from the Trust is distributed back
to the ISQ each year.
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In 2005 the two rinks made a trading profit of
$495,537
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At December 2005 there were low borrowings of
$114,153
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Logan land is worth approximately $1.2 million
(2005) and growing.
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Revenue is primarily earned from Public
Sessions. This funds the ice time for figure skaters (i.e solo,
pairs, ice dance and synchro).
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Every second ISQ meeting is open to the
elected representative from each of the Queensland Figure Skating
Clubs.
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My Comments |
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Test
your ability to see both sides |
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I asked not only Don
and Colin, but also several adult skaters who were around in the
early days and remember first hand some of the remarkable things the
ISQ has done:
Here's what else I
have learnt:
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The ISQ is the only Australian Association
with sufficient assets to host international figure skating events,
for example:
2 Junior World Championships
The 2000 Goodwill Games.
Will we ever see another Worlds here, if "The Coup" sell
Loganholme to fund their $1.5 million of promises over the next 5
years?
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For 24+ years, the Trustees have run the rinks
on a voluntary basis - they took no income from it, because they had
their own substantial investments on which to live.
I ask myself, what millionaires are there amongst "The Coup" with
a proven track record of success, to run the rinks anywhere near as
successfully as Don & Colin? Why would anyone want to get rid of
Don & Colin before we have learnt how to continue
their success?
I ask myself, who does The Coup propose to run the rinks and what is
their track record of success and continued profitability over such
a long period?
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