Anyone going to the CAI AGM?

Anything interesting in them? I don't suppose the CEO's salary was apparent? Have they sold their premises yet? I guess the new person will be taking over soon...
 
I just looked at the accounts. The accounts are for 18 months to 30 Nov 2012. The CEOs salary is not apparent. This organisation that asks others to be open and transparent has never been that way about the CEO salary. There were 4 staff in this period and only a total figure for these staff. All apart from the CEO were made redundant in this period. The new person should have a lot to do!

Does anyone know if the CEO is retiring or perhaps being made technically redundant to get a payout which the state will have to pay for as it appear the company has no money from the accounts. the premises have been written down to €600,000 in these accounts.
 
Here is a summary of the accounts

Building|€600k| Cost: €908k
Current assets|€54k
Creditors|(€650k)
Net Assets|€4k
So, if they sell the property for €600k, they are solvent. If they don't get €600k, they are insolvent.

|18 months to {br}30/11/2012|12 months to{br} 30/5/2011
Income|€566k|€417k
Expenditure|€513k|€546k
Surplus|€54k|(€129k)
Analysis of expenditure
18 months to {br}30/11/2012|2 months to{br} 30/5/2011
Magazine production|€279k|€207k
Marketing and admin|€190k|€328k
Bank interest|€42k|€11k
|€513k|€546k
 
No mention of the CEO's salary

REVIEW OF THE YEAR AND FUTURE PROSPECTS
The council is disappointed with the result for the period. The loss in value on the premises of €203,99I, after depreciation, for the J 8 month period, has been difficult to absorb.


Acting upon advice, the Council took all steps possible to ensure continuity and solvency. Having done so, the Council is now committed to continuing its efforts to restructure and to increase the number of subscribing members and is currently reviewing other potential avenues and courses through which it can generate much needed funding.

There continues to be an unforeseen and fundamentally adverse change in the entire global financial system including the economic and financial environment in which the organisation operates. It is very difficult to determine the long term impact of this situation on the organisation. The Council members continuously monitor the company's exposures to risks such as financial, liquidity and cash flow risks and take appropriate action should it become necessary.
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Note 5
STAFF AND STAFF COSTS
The average number of persons employed during the financial year was 4 (2011 : 5).

The aggregate amounts paid to or on behalf of staff are as follows:

|18 months to {br}30/11/2012|12 months to{br} 30/5/2011
Wages Salaries and Fees|€265k|€221k
PRSI|€27k|€24k
Pensions costs|€(20k)|99k
Consultation fees and other income includes €4,224 in respect of the CEO's representation of the organisation on various boards and courses. Fees received, after deductions of tax at source, in respect of The Consumers Association of Ireland Limited nominated Investor Compensation Company Limited representation are lodged in full to the benefit of The Consumers Association of Ireland by the Chief Executive Officer.

The council members receive no remuneration for their services as council members of The Consumers Association of Ireland Limited.

Fees paid to members from directorships and council representations held on behalf of the organisation, which are retained by the council members personally, amounted to €nil during the period ended 30 November 2012.


Members sitting on such boards are also entitled to reclaim expenses incurred from the relevant organisation. Details of the organisations on which the above members and the CEO sit are available on the organisation's website, www.thecai.ie.
 
Almost €200k on 'marketing and administration'? That's just crazy! What on earth is that money being spent on?
 
According to today's Sunday Business Post Dermot Jewell is 'unburdening' the CAI of having a CEO. However he is staying on in a 'consultative capacity'.

The AGM debacle is also reported......they must be reading AAM. ;)
 
Jewell told the Sunday Business Post that he planned to "unburden" the association of a chief executive, which he said was no longer appropriate for it. He will continue representing the association at a European level in Brussels, a role he described as "predominantly voluntary".
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Grand so Dermot. Out of pocket expenses good enough so?
 
Along with continuing to represent the CAI abroad, the article also says that Dermot receives €21,000 a year for representing the CAI on the board of the Financial Services Ombudsman. I suppose if they hired a new CEO it would be difficult to justify not giving her/him these responsibilities.
 
Would love to know what he means by 'predominantly voluntary' - to me that means he's getting fees. If he was just getting out of pocket expenses, why not say so?
 
Calico said:
Along with continuing to represent the CAI abroad, the article also says that Dermot receives €21,000 a year for representing the CAI on the board of the Financial Services Ombudsman. I suppose if they hired a new CEO it would be difficult to justify not giving her/him these responsibilities.
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Hi Calico

He was appointed by the Minister to Chair the FSO in his personal capacity. So Chair of the FSO does not go with the job of Chief Executive of the Consumers Association. There would be no reason for him to resign from the FSO if he steps down as CE of the Consumers Association
 
Brendan Burgess said:
Hi Calico

He was appointed by the Minister to Chair the FSO in his personal capacity. So Chair of the FSO does not go with the job of Chief Executive of the Consumers Association. There would be no reason for him to resign from the FSO if he steps down as CE of the Consumers Association
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Hi Brendan....point taken, but would he have got this appointment if he was not CEO of the CA? Probably not. I think it would be fair enough to keep this fee if his own salary is modest. Unfortunately as this information is not disclosed, we can only speculate. However we can say that €265k was spent on salaries for 18 months with only 2 employees - the CEO and a researcher - for most of that time.

The point I was really trying to make is that ordinarily it would be the CEO of the CA who would go to Brussels and receive board appointments etc. With no CEO, there is no-one new to appoint. I think it is a fair criticism to say that it looks like he is cherry picking certain aspects of the position of CEO - something that is made a lot easier with no incoming CEO.
 
I agree with Calico.

Aren't all board appointments technically 'personal' even though in most cases the person appointed is senior in an organisation (public or private) and it is that working background that gets them on the board and generally they are in any case representing the organisation they work for. A genuinely personal appointment would be where the person appointed had expertise relevant to the Board and their actual paid work was not relevant.

I hear on the grapevine that Jewell's package as CEO was a six figure salary plus + VHI + pension whereas the staff, when they had any, were mostly on less than €30,000 pa. the latest accounts, given that there were only Jewell and one other for some of the time, seem to support that contention.
 
Just heard that CAI held an AGM on Friday 29 March at 12 noon in Ballybrit Galway.

Did anyone go? Brendan Burgess?

Did they not have the accounts ready as last time?

Why Ballybrit - does their only remaining member live there!!!! None of the remaining directors live there as far as I know. Is the location and time to ensure that nobody goes and asks questions?
 
Is the location and time to ensure that nobody goes and asks questions?
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To quote Francis Urquhart "You might think that, I couldn't possibly comment". ;)
 
HI Brenda

aRe you sure?

I think that was the date of the 2013 AGM deferred?

According to Consumer Choice in March,


, Council can advise that the Association
has sent the accounts for the
12 months ended November
2013 to the auditors and
awaits the draft version
for the Honorary Treasurer
and Council to review in the
coming weeks. As soon as
these are finally approved
and signed, a digital copy
will be loaded for Members
to view on the CAI website.
Council will also determine
the date and venue for the
Annual General Meeting
and will advise Members
of the detail and within
the appropriate period

There was no mention of it in the April Consumer Choice
 
H

Hi Brendan, got back to my friend who passed the info to me. On CAI website 10/3/14 they asked for nominations to Council(Board of Directors) in writing by 28.3.2014 to Dermott Jewell.

Don't they have EMAIL? Isn't he no longer CEO so why are Board nominations going to him?!!!
My friend then saw a notice about an AGM on March 29 and assumed it was this year due to the call for nominations. You are right - it referred to last year - they really should update their website. I wonder how many nominations they got!!!!
 
Just heard that the CAI filed their accounts to Nov 2013 last week. But they haven't had an AGM (see my post above).

Surely you cant file accounts with the CRO unless passed by members at the AGM?
 
Hi Brenda

They had no AGM in 2012.
They didn't notify people properly of the AGM in 2013 - just a notice on their website
They had no accounts at the AGM in 2013 which I attended.

They were serious breaches of corporate governance in a membership organisation which receives state funding.

I find the Companies Offices dates very difficult to understand.

My main concern is that they hold an AGM and that the accounts are available for the members at that AGM.

I would be less concerned about a failure to comply with some technicalities.
 
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