rapidtransit9 Posted November 5, 2012 Share Posted November 5, 2012 DCI Executive Director Dan Acheson explains what DCI can & can’t do when corps face financial problems. http://www.marchingroundtable.com/2012/11/04/episode-145-dcis-role-in-corps-financial-stability/ 1 Quote Link to comment Share on other sites More sharing options...
Jeffe77 Posted November 5, 2012 Share Posted November 5, 2012 Listening to it as I write, big take away already is there's no check to see if what the corps submits to DCI in the evaluation process is factual. Mr Acheson stated that they go by what is presented to them, no vetting at all. Call me naive, but I'm surprised. Big reason were in this financial mess nationally is because folks who applied for loans to purchase housing did so via stated income loan, in the mortgage industry, we called it liar loans. IMHO, it seems that's what we have here. I would think all corps don't cook their numbers. But it opens the door to what took place last summer. Am I wrong to expect DCI to do some vetting and not just go by what is presented to them only. Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted November 5, 2012 Share Posted November 5, 2012 I'm not surprised...DCI doesn't have the office staff for that Quote Link to comment Share on other sites More sharing options...
garfield Posted November 5, 2012 Share Posted November 5, 2012 I'm not surprised...DCI doesn't have the office staff for that It's a question of funding, and the connotation is that, due to the financial demands of the largest corps, DCI doesn't have the funding to staff a comprehensive review of the financials. I would think Wayne, the CFO, is the only one who is qualified to judge the financial documents. It would be nice if they had the budget. The question is whether the current BOD has reinstated funding for such work; obviously, per Dan's comments, they did not so it's safe to assume that the demands of the payout schedule don't allow a real, audited financial review. It is possible that their system was never to review financials but, instead, review the business practices - the activities - that corps do to make sure nothing looks way out of whack. And I'll be they'd find significant differences in the models used by various corps. I haven't listened yet, but will tonight. 2 Quote Link to comment Share on other sites More sharing options...
MikeN Posted November 5, 2012 Share Posted November 5, 2012 I'll be curious to hear your thoughts, Garfield. Mike 2 Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted November 5, 2012 Share Posted November 5, 2012 It's a question of funding, and the connotation is that, due to the financial demands of the largest corps, DCI doesn't have the funding to staff a comprehensive review of the financials. I would think Wayne, the CFO, is the only one who is qualified to judge the financial documents. It would be nice if they had the budget. The question is whether the current BOD has reinstated funding for such work; obviously, per Dan's comments, they did not so it's safe to assume that the demands of the payout schedule don't allow a real, audited financial review. It is possible that their system was never to review financials but, instead, review the business practices - the activities - that corps do to make sure nothing looks way out of whack. And I'll be they'd find significant differences in the models used by various corps. I haven't listened yet, but will tonight. it sounds to me like quite honestly, they set up the system that requires the least but returns the most 1 Quote Link to comment Share on other sites More sharing options...
Barifonium Posted November 6, 2012 Share Posted November 6, 2012 If only there was a non-profit to watch the non-profits... 1 Quote Link to comment Share on other sites More sharing options...
CQuinn Posted November 6, 2012 Share Posted November 6, 2012 I think DCI should hire Stu as their financial watchdog. 2 Quote Link to comment Share on other sites More sharing options...
garfield Posted November 6, 2012 Share Posted November 6, 2012 Hmm... So many different thoughts... Had to laugh at the intro: "One of those difficult topics". Wasn't sure if it's difficult because it's financial or because of the corps that folded this year. Considering the topic I suspected that it was because it's a financial discussion. But wait, there's no financial discussion here. DCI isn't proactive in any part of the topic. No need to discuss finances in this interview because DCI doesn't get involved. Except when a corps petitions to get into WC or when someone reaches out to them for help. Or when they hear some rumors, or when parents start calling (and only if it's more than one parent). In that case, there's a whole slew of help available from both DCI and ALL the corps. Dan holds a list of contacts who would love to engage with a corps director or parent who reaches out for help "You see, DCI is an association. We care. But we have no systematic way to help. Sure, we have people you can talk with, and we'll be happy to point out, based solely on what you present us, what we see that's wrong with your operation. But we have no authority to expect you to do anything at all or even take our advice because we recognize that all corps handle "things" differently, and what might be good for one corps could be harmful to another. We work very hard not to get involved in this aspect of your corps. And, furthermore, we have no authority, we can only work with what you give us, and as long as you remain a corps 'in good standing', we never have to talk with you again about your business." Have I paraphrased this about right? Continued... 1 Quote Link to comment Share on other sites More sharing options...
cixelsyd Posted November 7, 2012 Share Posted November 7, 2012 It's a question of funding, and the connotation is that, due to the financial demands of the largest corps, DCI doesn't have the funding to staff a comprehensive review of the financials. I would think Wayne, the CFO, is the only one who is qualified to judge the financial documents. It would be nice if they had the budget. The question is whether the current BOD has reinstated funding for such work; obviously, per Dan's comments, they did not so it's safe to assume that the demands of the payout schedule don't allow a real, audited financial review. And do not expect that funding to be turned back on. Just think, the same process that roots out the Teal Sounds might also root out the - oh, just a minute, someone is knocking at my door. 1 Quote Link to comment Share on other sites More sharing options...
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