SAGA publishes accounts!!!

[peterbj7]

Contrary to their assertions over the past "n" years that they have always published results, SAGA have just published their first audited annual financial accounts, for the two years 2008 and 2009.  Although I have a few issues with detail, it would be churlish not to welcome this major development.  They can be found (as a single Adobe Acrobat document requiring Acrobat Reader) on their website at http://sagahumanesociety.org/wp-content/uploads/2010/06/Saga_Financial_Full_Report1.pdf .

[peterbj7]

At a headline level I spotted that the total income for 2009 at $221,774 rose by 79% from the 2008 figure of $123,801.  All Belize dollars.  This coincides with Laurie's tenure there as vet.  It will be interesting to see the comparable figure for 2010 in due course.

And if we exclude a one-off donation received from the UK in 2008, "donations, grants, fundraisers and product sales" rose by 72% in the year that Laurie was in office.  These "product sales" exclude drugs and medications (which are accounted for elsewhere) so presumably make up a tiny proportion of the heading.  This was a massive increase in revenue, which we can but hope was continued after her departure (as no figures have been published for the year-to-date).

A few queries.  Even though there was no vet for half of 2008, and when there was she was paid less than Laurie in 2009, "personnel" costs were only 1/3 less for the earlier year.  And "facility costs", which are the costs of occupying the main building so include rent, electricity, water etc, rose by almost 50% between the two years to $46,905 in 2009 - a remarkable increase.  Though as "administrative and general expenses" dropped by around the same number of $, perhaps there is an error in the accounts?

SAGA apparently spent $5,787 on "furniture and equipment" in 2009, on top of $5,702 the previous year.  From my visits to the building I'm curious as to what was bought for these non inconsiderable sums.

The cost of "drugs and medications" used in the practice remained virtually unchanged between the two years and the recorded inventory (stocks) remained unchanged, but the associated sales receipts rose by almost 63% between the two years.  Strange.

"Animal care facilities" constructed in the two years totalled a little over $40,000.  Presumably this was solely for the dog pound and its later "isolation" extension.

The main building occupied by SAGA is rented month-on-month, with no security of tenure and only a two month notice period.  It can be terminated for no reason.  That isn't particularly good, and I would have thought that acquiring their own premises or at least longer-term security of tenure would be high on the priority list of the Trustees.

There is an outstanding secured loan that SAGA are repaying, relating to the dog pound, but as at the end of June 2010 they only owe 9 more months, at a rate of $700 per month.

It is hard (impossible) from these accounts to tell what the financial implications of having their own vet or not are, but for 2009 I would estimate that the net costs of employing a vet were around $15,000.  That saving in 2010 can be employed in buying veterinary services for shelter animals and needy cases of pet ownership.  Vet treatment for other patients would be at full commercial rates and would be revenue-neutral to SAGA as they would be paid directly to the commercial vet.

It is quite clear, and indeed is partially stated explicitly in the audit report, that for many years SAGA neglected its financial housekeeping, something that many of us have complained of for a long time.  It is stated in the audit report that appropriate registrations for charitable status in the USA were neglected and lapsed but were later renewed, but it is not stated whether tax relief for the lapsed period was ever recovered.

Now that order appears to have been restored from chaos, let us hope that the vastly improved governance this implies will continue and indeed will grow.  Well done SAGA!!

[bethieb]

Thank you for your analysis Peter, I find it helpful in understanding the financial report. 

[Inplub]

Peter the vet was only paid $15,000 a year I was told it was more than this. That is only about £300 a week.

[pedro]

it depends which way you look at it the vet was paid with extras just under 49kbzd-she was guaranteed 40kbzd a year and when she worked after hours or on her days off saga paid her 75bzd per patient-so on any given sunday she may have seen three emergencies which would make SAGA x -she would make 225bzd (75bzd per patient)-this was the case if she was woken in the middle of night or if animals were hospitalised over night or on her days off-she made an additional 9k through all of these.
As Peter says it will be interesting how much SAGA made without her

[Inplub]

Thank you for that Peter.

[pedro]

for years I have been asking to see the accounts -I was told by  the SAGA board that I was not privee to that info(to see the 2008 accts. in 09)-as it turns out neither were they as it appears the accounts were only done recently along with the 09 ones-what happened to all the other years accounts?-also while not accusing anyone of mismanagement I would have liked to see a much more detailed account of donations-how much money went to the building of the much maligned ISO unit-which went prohibitively over budget-was FOTHS money put in to SAGA accts or was it held and paid directly to the contractor (husband of the book keeper)-how much extra money from SAGA was provided to complete the project if indeed it has been finished,as the walls appear not to have been plastered/sealed etc.

[thevet]

Wow, look at all the money Peter and I made Saga in 2009.  That is so annoying!  I hired a groomer and she has been fantastic.  She has grown my business immensely and I gave her a 20% raise after only a month.  I remember how smeared I was by the Saga board and others for having the nerve to ask for a 20% raise after a year.

I wonder where Saga would be now if they had chosen to work with Peter and myself instead of against us.  What if they had given their vet, who supports the entire charity and without whom Saga cannot even afford to exist, an equal position on their team.

oh well...

I agree with Peter and Peter.  Based on my experience there some of these numbers can't be correct.

[pedro]

SAGA have invited me to meet with their treasurer and see their full accounts -I have given them two times that I will be available 2.00pm monday,10.00am on tuesday-I am looking forward to seeing them and congratulate SAGA for changing with the times and finally allowing people to see them

[bethieb]

Well, cheers to that!  I have hope yet for future cooperation by all for the animals... unless this means hell has frozen over?  Seriously, good news.

[peterbj7]

I have been asked a question that I do not definitively know the answer to - "does anyone know if the licensing board has given permission to any other humane society to practice vet medicine where private practicing vets were available".

Peter, Laurie....?

[pedro]

to my knowledge the answer is no-the humane societies all use private vets (to my knowledge)look at www.belizehumanesociety.org which is headed by Caroline Bowen-Corozal uses private vets -a fledgling Sartenja project set up by the peace corp is using Laurie,supported by locals,the peace corp and SPAF,St. Ignacio uses private vets as does Belmopan and Punta Gorda-Laurie's rates are comporable to all practising licensed vets in Belize

[peterbj7]

Any idea about Dangriga & Belize City?

[pedro]

according to Belize city they give vouchers to the underprivledged owners and they allow the private vets to redeem them at their shelter

no idea about Dangriga,but I know Miguel Figueroa goest to Placencia occassionally