The Arizona Chess Federation, Inc. 

2007 ACFI Annual Financial Statement and comments

The following message and attachement were provided by ACFI Treasurer Jennifer Shacter. Her suggestions regarding the procedure for the Denker and Polgar representatives are subject to Board approval. --------------------------------------------------------------------------------------------- I have attached the 2007 ACFI End-of Year Financial Statement. The statement remains unchanged from when it was submitted to the board at the end of the 3rd quarter. Both Robby Adamson (her coach & chief TD for 2007 State) and I have contacted Jenelle Wallace, the 2007 AZ Polgar Representative, regarding reimbursement of up to $300 in expenses but haven’t received a request back. I don’t know how much time we should allow for a representative to seek reimbursement. Should this come up for discussion? I think it would be best if both the Denker & Polgar representatives were given a letter (written by either the ACFI Secretary or the ACFI Treasurer) at the AZ State Scholastic Championship offering congratulation, informing them on the reimbursement for travel-related expenses (up to $500 for Denker & up to $300 for Polgar), and how to apply for reimbursement following their respective tournaments (actual receipts needed, where they should be mailed, and a time limit for submission). I will be happy to get this information to Marty for this year. ACFI has received has received per player payment from SACA for the 2008 AZ State Grade Championships in the amount of $600 for 400 players. Financial paperwork for this event will be submitted in the coming weeks. ACFI has also received a donation from SACA in the amount of $250 to offset the prize fund donation made by ACFI for the 2007 State Championship (held during the 2008 Tucson Open). ACFI contributed $1000 to SACA toward the State Championship prize fund (we had previously contributed a maximum of $500). SACA’s donation brings ACFI’s net contribution down to $750.

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