Listen you OAFS, your money, our money, the facts, the fiction and the fiddled books !!!

Myosotis Neustrie gives us some more details about how your OAF contributions have been used.

YOUR LODGE MUST BE REPRESENTED AT PISAN THIS COMING FRIDAY JUNE 17th at 3 p.m.TO VOTE THE REJECTION OF ALL THIS !!!

Winnie has already explained this in a previous article, but we want the message to be received by all those who belong to a GLNF Lodge.                                                                                       Translation Arturusrex

OAF, initials that look like a good Saxon word of ours! Perhaps we are supposed by Mssrs Foellner, Stifani and Co to be the OAFs!

The letters in French stand for Œuvre d’Assistance Fraternelle, something to do with Fraternal Assistance.. Myosotis Neustrie has another interpretation:

OAF : OPERATION for the ACCUMULATION of FUNDS ?

The question is put…

WE HAVE A FEW INTERESTING INDICATORS AS STARTING POINTS IN THE 2009-2010 FINANCIAL REPORT AND IN THE TREASURER’S REPORT RECEIVED BY THE WM AND BRO. HOUÉ.

We find them in the Balance sheet up to 31/08/2010, in the Management Report and in the Treasurer’s Report.:

- Assets in circulation : consisting of assets held by the  association and intended not to remain there for a long time, i.e. less than one financial period.  .

They are mainly stocks, credits, transferable investment securities and cash.

transferable investment securities: 2 346 478 €

cash : 2 936 473 €

Allowing for various equalizations and credits a total of :

5 287 884 €

OAF Treasury

This, you need to know, amounted to 5 061 200€ in 2009 ...

WHICH IS THE EQUIVALENT OF 5 ^{1/ 2} TIMES THE PRODUCT OF ONE YEAR

DUES, ALMS BOX COLLECTIONS, in received ...

- Capital assets :

1 639 €  in bonds corresponding to shares in SCI Christine de Pisan @ 15€ and 100 shares in SCRIBE SAS amounting to 1624€,

i.e. 20% of the capital

9092€ in deposits and surety-bonds paid in to SCI Christine de Pisan !

FOR WHAT ? ?

AID TO CORPORATIONS IN DIFFICULTY  ?

- Provisions for risks and charges :

300 000 € provisions for scheduled "Maison des Solidarités"

WHO HAS BEEN INFORMED ?

FINALITY ?

OVERALL COST ?

- Products

Dues : 710 000 €

Alms : 767 000 €

i.e. 1 477 000 €

straight out of the Brethren’s pockets for the year.

Out of a total 1 583 788 €

BRETHREN, YOU ARE REALLY NOT VERY GENEROUS

YOU COULD UP IT TO AT LEAST 2€ EACH MEETING IN THE ALMS BOX!!! ...

- Charges  

Donations and succour : 943 168 €

WHICH MEANS THAT : 640 620 €

HAS BEEN CAPITALIZED

INSTEAD OF HELPING OUR BRETHEN IN DIFFICULTIES

Did you say something about “Fraternal Assistance”?

And that’s not all ... !

Because, between you and me, as money-grabbers go, these In-Dignitaries are not all that good at it...

1. Till proof of the opposite, SCRIBE SAS makes a profit, so, why, with 20% of OAF capital, doesn’t it receive dividends?
2. 2 346 478 € worth of Investment bonds  brought in  6 838 € ! i.e. 0,29% in interest ! Where’s the error ? Do you know of a lot of investments for such an interest rate?
3. The Bank account shows a deposited ammount of2 936 473 € without one centime interest ! Let’s hope there are no bank charges !

WHAT MANAGEMENT !

TENS OF THOUSANDS OF EUROS THAT COULD HAVE BEEN USED TO HELP OUR BROTHERS IN HARDSHIP

BUT IT IS ALSO TRUE THAT DONATIONS AND SUCCOUR!

HAVE GONE DOWN FROM 964 K€ TO 943 K€

ARE THE REQUESTS FOR SUCH DOWN ?

OR IS THERE NO RESPONSE TO THE CALLS FOR SUCCOUR ?

ANYWAY, THAT’S NOT WHAT THE OAF IS FOR ...

But, on the other side of things, rental to SCI Christine de Pisan is :

70 553 €

Administration expenditure :

264 908 €

Associative Funds and reserves are up 2% to

109 000 €

And the super-duper cherry on the cake for our financial wizards in the OAF,  the “fond de roulement” (short  term cash reserve) has risen from 5021K€ on 31/08/2009 to :

5 281 000 € on 31/08/2010

MORE THAN 3 1/2 YEARS  

ADVANCE PROVISION OVER YEAR’S CHARGES !

WHAT BRILLIANT MANAGEMENT !

for all our Brethren in difficulty, and we hope they will not find out about these results which are unworthy  of the objectives of our association, which in turn is unworthy of the GLNF.

But birds of a feather flock together and the directors and In-Dignitaries of our two associations, GLNF and OAF, both certainly pursue the same objectivces

Let us kick these merchants out of the Temple

The quicker the better.

Let us return to our true values that are not measured in euros or capitalizations.

LOOKING ONLY A FEW DAYS AHEAD,

 it is important you vote

NON, three times NON

at the GA on June 17th

And prevent the dishonest adoption of these accounts and  

Quietus being given to the administrators.