Salary Cap and the FAI

[sligo1]

That's fine Dodge but it should only be the actual amount that is received each month that is taken into account and not the total amount.

[OneRedArmy]

No offence but I fear you're missing the point. The problem as I see it, as any accountant will tell you, is that monthly management accounts aren't worth the paper they are written on and submitting them to the FAI is only a box-ticking exercise.

Whether the audited accounts are any more accurate I'm not sure. Cash is king.

The EL's finances has historically been based firmly on payments not going through the books, basically gate receipts and other backhanders in brown envelopes. Allegedly the Revenue keeping a close eye on clubs has cut down on this but the stories I've heard about wages and the figures I've seen in audited accounts don't even come within an arses roar of tying up.

Would anybody swear on their families lives that this isn't a problem anymore?

If this was the case they the wage cap becomes an irrelevance.

[Dodge]

I can tell you that the "reported" figures about some Pats players are at least 100% exaggerated. I also know that Pats are fully compliant with PAYE and PRSI (which caused a bit of a shock to one player we signed, who thought he was a greeing to a net contract, and not a gross one)

[Macy]

Would anybody swear on their families lives that this isn't a problem anymore?

It's a problem in general in the Irish economy. However, the wage cap system has been shown to work to some degree with Galway and the Sligwegians. The major problems have been where it's been a bit of paper guaranteeing money. So whilst the basic system isn't fool proof, it's proving to be better than the amendments the FAI tagged on the end.

[jinxy lilywhite]

Cash is king.

Alas someone hit the nail on the head. I was trying to say that but i couldn't put it any better.
With your accounts background what would you look for? I thought of something along the lines of FRS1 or cash flow or would something that intricate be needed.
Balance sheets are only a capture of accounts at a particular time and as you point out easily manipulated to show what the creator wants to show.

[OneRedArmy]

Alas someone hit the nail on the head. I was trying to say that but i couldn't put it any better.
With your accounts background what would you look for? I thought of something along the lines of FRS1 or cash flow or would something that intricate be needed.
Balance sheets are only a capture of accounts at a particular time and as you point out easily manipulated to show what the creator wants to show.

Cashflow statement with a bank rec thrown in.

[passerrby]

when the FAI announced they were issuing a salary cap some clubs thought it was a promotional gimmick along with scrafs and badges

[jinxy lilywhite]

Cashflow statement with a bank rec thrown in.

I like it. Can't get enough of those bank recs

[higgins]

http://www.eircomloi.ie/news-centre/...uary/news-141/

If at any point during the year a club is found to be in breach, they will be informed of the breach and requested to discuss the matter with the FAI. The FAI Club Licensing Committee will be convened and the breach and explanation put to them.

What Sanctions can be applied?
The FAI Club Licensing Committee will have the power to apply any one or combination of the following;

• Reprimand
• Fines
• Transfer Embargo
• Points Deduction
• Prize Money withheld
• Removal as eircom League of Ireland's European Representative
• Withdrawal of licence

So when will all the punishment be dished out ???

[Dodge]

They don't have to give any sanctions though

http://www.fai.ie/pdf/FAI_Club_Licen...anual_2008.pdf

[passerrby]

Cash is king.

I think you ll find that Evis is king and that while cash released some very good albums he like some premier clubs was never in the same league. pardon the pun