[Community-Discuss] [AFRINIC-Announce] AFRINIC Annual Financial Statements 2016

[Sunday Folayan]

Dear Noah,

Find interlaced, my response to your questions.

On 25/05/2017 01:20, Noah wrote:
> Hello Board Chair,
>
> While going through this approved Financial Statements by the Board, I 
> have noted concerns that needs some clarifications.
>
> 1. Total emoluments and other benefits given to directors by the 
> Company during the year *2016 were 164.72*  compared to *74.49 in 2015 
> a 221% increase in spend on directors*.
>
> Can I ask the reason for such an Increase and can the membership have 
> a breakdown of this figure made public.

There was no increase, neither is there a breakdown to give. The CEO was 
only fully remunerated in 2016 (12 Months). CEO was only paid for 5 
months in 2015.

>
> 2. At 31 December 2016, trade receivables amounting to *USD 39,199 in 
> 2016* compared to *2015 : USD 26,098*, were impaired and written off 
> during the year meaning we are not managing our collections. This 
> situation was expected to improve but that doesn't seem to be the case.

The Fees collection situation indeed improved, but the $39,199 you see, 
is defaults from members who went out of business. AFRINIC has no 
control over members going out of business. It does not make sense to 
pursue the recovery of such small amounts using the legal option.

>
> Can I get some clarifications considering in Gaborone when I tasked 
> the board for explain, the board indicated the situation would improve.
>

There you are!


>
> Noah
>

Sunday Folayan.
Chair, AFRINIC Board

>
>
>
>
> Noah
>
> On Wed, Apr 26, 2017 at 10:58 AM, AFRINIC Communication 
> <comm-announce at afrinic.net <mailto:comm-announce at afrinic.net>> wrote:
>
>     Dear Colleagues,
>
>     AFRINIC is pleased to advise that the Annual Financial Statements
>     for the financial year to December 2016 is now available at:
>     https://www.afrinic.net/images/doc/Unsigned_AFS_2016.pdf
>     <https://www.afrinic.net/images/doc/Unsigned_AFS_2016.pdf>
>
>     Kindly take note that, at its meeting on the 19th April 2017,
>     AFRINIC Board approved the Audited Financial Statements as
>     presented (board resolution 201704.332  -
>     https://www.afrinic.net/about/bod/meeting/2017#r332
>     <https://www.afrinic.net/about/bod/meeting/2017#r332>).
>
>     All the required signatures are being assembled and once
>     completed, a fully signed and complete set of 2016 Audited
>     Financial Statements together with the signed External Auditors
>     reports and Opinions shall be published.
>
>     As per the bylaws Section 7.6  the audited financial statement
>     will be presented at the AGMM on 1 June 2017, for adoption by the
>     members.
>
>
>
>
>
>
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>
>
>
> -- 
> *./noah*
>
>
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-- 
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Sunday Adekunle Folayan
Managing Director
General data Engineering Services (SKANNET)
16 Oshin Road, Kongi Bodija, Ibadan - Nigeria
Phone: +234 802 291 2202, +234 816 866 7523
Email: sfolayan at skannet.com.ng, sfolayan at gmail.com
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