IllianaLancerContra Posted January 31, 2023 Share Posted January 31, 2023 15 hours ago, Fran Haring said: Being a total novice here with this stuff... does this mean the Cavies might be the next candidate to turn out the lights, for at least a while? 3 hours ago, Mello Dude said: Doesn't Rosemont give them a LOT of money though? I would think that $ from city would be included in assets. I agree w/ Fran that based on data given, Cavies look to be in a precarious spot. Link to comment Share on other sites More sharing options...
keystone3ply Posted January 31, 2023 Share Posted January 31, 2023 On 1/17/2023 at 4:54 PM, Richard Lesher said: POST REMOVED PENDING CONERSATION WITH SCV REPRESNATIVES. I will copy and paste it back when/if appropriate. On 1/17/2023 at 4:54 PM, Richard Lesher said: POST REMOVED PENDING CONERSATION WITH SCV REPRESNATIVES. I will copy and paste it back when/if appropriate. So the post @Richard Lesher removed was a reply dealing with gaming regulations? Was he asked to remove the reply by the VMAPA organization or did he removed on his own? Just curious... 🤔 1 3 Link to comment Share on other sites More sharing options...
Popular Post Paul Milano Posted January 31, 2023 Popular Post Share Posted January 31, 2023 It's not my place, technically, to offer some guidance on Cavaliers financial situation. But, in an effort to lower the temperature on the speculation, here is what I know, having been a board member and still being used by them for occasional advice/assistance. The Cavaliers drum corps as well as CAPE (the overall organization) is in the best financial shape it's been in for decades. Several years ago, the organization created an "Investment Club", with the help of some counsel from the Blue Stars who already had done this as well. The Investment Club is a group of alumni who put money in a fund, in exchange for better interest earnings than they'd get with some of the their discretionary income monies they have sitting around getting virtually no earnings from their checking account or other short term investments. The Cavaliers then have access to those funds, as needed, for mid-year cash flow or equipment purchases/leases. Thus, no need to try to get bank loans for things, which is always difficult for drum corps to do. The Investment Fund does not create any true risk for the corps, since the lenders to the fund (alumni) would never "call in the loan" at a difficult time for the corps. A win/win for all involved. Financial statements (on line to be seen transparently) are always two or three years behind. Since then, the Cavaliers were able to secure very healthy PPA grants, as did many other drum corps and DCI itself. The most current financial status of the Cavaliers shows excellent debt to assets ratios. Was the corps carrying some six figure debts owed to bus lines, credit cards, etc., a few years ago? Yes, but not unlike most drum corps. The investment club monies helped to pay off those modest debts and with the new PPA grants, the corps is now very healthy! That doesn't mean stop donating when asked (!!, :)) but the board, suppliers, Rosemont, members, parents, etc., are all pleased today. Rosemont provides very helpful financial assistance (through their entertainment district funding mechanism, not so much the Village of Rosemont treasury itself). That help continues generously to this day also. Hope this clears up any concerns, because I can assure you, there are none and the organization is in excellent shape! Thanks for reading to the end. 🙂 4 9 Link to comment Share on other sites More sharing options...
scheherazadesghost Posted January 31, 2023 Share Posted January 31, 2023 Thanks re info on Cavies folks, but can that convo move to its own thread if it needs to continue? ❤️💚 2 Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted January 31, 2023 Share Posted January 31, 2023 14 minutes ago, scheherazadesghost said: Thanks re info on Cavies folks, but can that convo move to its own thread if it needs to continue? ❤️💚 Probably a good idea - I am one of those responsible for the deviation to the Midwest Link to comment Share on other sites More sharing options...
Paul Milano Posted January 31, 2023 Share Posted January 31, 2023 20 minutes ago, scheherazadesghost said: Thanks re info on Cavies folks, but can that convo move to its own thread if it needs to continue? ❤️💚 No need for it's own thread, IMHO. It shouldn't have been a conversation to begin with, if all the current facts had been known. Now that they are, I think highlighting it with it's own thread would be counterproductive to the Cavaliers. Thanks. 2 2 Link to comment Share on other sites More sharing options...
Terri Schehr Posted January 31, 2023 Share Posted January 31, 2023 34 minutes ago, IllianaLancerContra said: Probably a good idea - I am one of those responsible for the deviation to the Midwest It’s all your fault. 😂 3 Link to comment Share on other sites More sharing options...
2muchcoffeeman Posted January 31, 2023 Share Posted January 31, 2023 4 hours ago, IllianaLancerContra said: I would think that $ from city would be included in assets. Disclaimer: NOT AN ACCOUNTANT Comment: I think you can include something among your assets only if you own it already -- or if its a receivable (money owed to you for a product sold, for example). Otherwise, I'm not confident that you could include any kind of hoped-for funding from the city among your assets. Unless the Cavies have some kind of contractual agreement with Rosemont guaranteeing the delivery of X dollars on Y date, the corps would not include it on the asset side of the balance sheet. But, again: NOT AN ACCOUNTANT Link to comment Share on other sites More sharing options...
Paul Milano Posted January 31, 2023 Share Posted January 31, 2023 14 minutes ago, 2muchcoffeeman said: Disclaimer: NOT AN ACCOUNTANT Comment: I think you can include something among your assets only if you own it already -- or if its a receivable (money owed to you for a product sold, for example). Otherwise, I'm not confident that you could include any kind of hoped-for funding from the city among your assets. Unless the Cavies have some kind of contractual agreement with Rosemont guaranteeing the delivery of X dollars on Y date, the corps would not include it on the asset side of the balance sheet. But, again: NOT AN ACCOUNTANT There is a three-year contract that has been renewed multiple, multiple times since the early 1980s. Some of the funds are restricted (a new bus or food truck) but most are for operational expenses and/or touring expenses. P.S. I'm trying to let this conversation die out of respect for the OP wanting to talk about Santa Clara Vanguard issues. 3 1 Link to comment Share on other sites More sharing options...
scheherazadesghost Posted January 31, 2023 Share Posted January 31, 2023 (edited) . Edited February 1, 2023 by scheherazadesghost 1 Link to comment Share on other sites More sharing options...
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