CLUB 89 ACCOUNTS

CLUB 89 WELFARE COMMITTEE REPORT FOR THE PERIOD JUNE 2016 TO OCTOBER 2019

1. INTRODUCTION

Dear members, do bear in mind that due to the sensitive nature of certain welfare issues, ideally, this report should have been presented to only the WELFARE COMMITTEE MEMBERS who after scrutinizing it and satisfying themselves that it is a true reflection of the current state of affairs, would have left out the nitty-gritty of some of the cases to protect the privacy of beneficiaries and donors. The WELFARE COMMITTEE would then have presented a summarized version of the report to the general body. Members have, however, opted for a full report of all welfare-related issues so we are obliged to go by it. Any inconvenience caused to any beneficiary or donor is deeply regretted.

2. OMISSIONS AND COMMISSIONS

Any omission or commission is inadvertent and would be addressed as and when they are identified. Many of the documents pertaining to this report have been shared previously. That notwithstanding all relevant documents have been attached to this report. We had to take time to cross-check figures and also get bank balances, statements, etc before presenting the final report to you hence the delay. We encourage members to go over all the figures and events and alert us of any discrepancies.

3. DUES COLLECTED

A total of 73 members contributed an amount of Ghc20,180 from June 2016 to October 2019, details of which have been attached herewith. This includes members who have paid beyond October 2019 as captured in the Excel Sheet attached. Do bear in mind that this amount was collected in “bits and pieces” from members over a period of 2 years hence our inability to invest this money in bulk. Kindly note that the dues is distinct from the various Silver Collections made in the name of members in some kind of need or distress.

4. WELFARE COMMITTEE MEMBERS 

Originally, the Welfare Committee was made up of the following five (5) members:

1. Mr. Reginald Emmanuel Yawson (Chairman)

2. Mr. Daniel Ayanu (Financial Secretary)

3. Mr. Victor Dela Tattrah (Member)

4. Mr. Jonas Nanzoninge (Member)

5. Pastor Samuel Oduro (Member)

However, on November 9, 2017, Mr. Jonas Nanzoninge resigned from the WELFARE COMMITTEE citing a busy schedule which did not allow him to follow discussions on the Welfare platform. He was asked by the Chairman to communicate his intention to the larger group, after which his resignation was accepted. 

As and when the need arose, other members were added, albeit temporarily, to the Welfare Committee Platform, to assist in dealing with one welfare case or the other.

5. CRITERIA FOR DISBURSEMENT OF FUNDS

The WELFARE COMMITTEE was put together to act on behalf of the larger group and therefore relied heavily on the Club’s Welfare Policy Document to assist members who were in need. Where it was not clearly spelt out in the document, members considered the merit of each case as against the funds available. Individual members/donors were sometimes called upon to assist members who could not gain assistance from Welfare.

6. PHOBIA’S SILVER COLLECTION

An amount of Ghc11,378 was realized from the contributions for the burial and final funeral rites of our late brother Dennis Odae Nti (a.k.a. Phobia) as well as the upkeep of his daughter, Birgitte Odae Nti. The full amount of Ghc11,378 was disbursed with the breakdown as follows:

i) An amount of Ghc7,000 was invested by the Association for and on behalf of Phobia’s daughter in Treasury Bills at ADB Gulf House Branch. After it yielded an interest of Ghc1,616, a total of Ghc8,000 was transferred from the Treasury Bills to an SIC-FSL (behind Christ the King Church) investment account. As at 8th October, 2019 the balance (Principal of 8000 + interest) on that investment stood at Ghc12,791.75 

ii) The remaining interest of Gh616 from the Treasury Bills had to be transferred urgently to our brother Kwame Sem, whose daughter was on admission a hospital in the Eastern Region after a road traffic accident 

iii) A presentation of Ghc1,000 was made to Phobia’s widow, Janet Dansoa, on behalf of Club 89 at the Paloma Hotel after the final funeral rites. Present were Kofi Asafo Agyei, Kwasi Owusu-Achaw and Daniel Selasi Ayanu.

iv) An amount of Ghc1,000 was paid to the main Esbecan Association (then headed by our brother Kofi Asafo Agyei) as reimbursement for transportation to Phobia’s funeral at Kade as well as food and other expenses.

v) An amount of Ghc200 was used to reactivate Club 89’s current account at ADB Gulf House Branch.

vi) An amount of Ghc178 was used to open GCB Bank Current Account for Club 89 at the Burma Camp Branch.

vii) The balance of Ghc2,000 was carried forward and added to the Club 89 Investment captured in POINT 9, bringing the total amount disbursed to Ghc11,378.

7. SILVER COLLECTION FOR ROMEO SWATSON’S FATHER’S FUNERAL

A total amount of Ghc2,350 was realized from the contribution for Romeo Swatson’s father’s funeral, out of which an agreed amount of Ghc1,010 (1,000+10 cedis mobile money charge) was transferred to Romeo’s wife upon his instruction. The balance of Ghc1,340 was carried forward and added to the Club 89 Investment captured in POINT 9.

8. SILVER COLLECTION FOR THE “PARENTS” OF SAMUEL AMOATENG SAFFOH AND LEWIS AGYEI

A total amount of Ghc3,200 was realized from the above-named silver collection out of which an agreed amount of Ghc1,010 was paid by mobile money to Samuel Amoateng Saffoh and another Ghc1,010 was paid to Lewis Agyei. The balance of Ghc1,180 was carried forward and added to the Club 89 Investment captured in POINT 9.

9. CLUB 89 INVESTMENT PHASE 1

The balances carried forward from Point 6 (Ghc2,000); Point 7 (Ghc1,340) and Point 8 (Ghc1,180) plus Ghc500 from the dues collected (2,000+1,340+1,180+500=5,020) added up to Ghc5,020, out of which Ghc20 was used for passport pictures of the signatories and the remaining Ghc5,000 was invested in Treasury Bills at ADB, Gulf House Branch.

10. CLUB 89 INVESTMENT PHASE 2

Upon the maturity of the Treasury Bill of Ghc5,000 at ADB we realized an interest of Ghc1,154, out of which Ghc154 was left in the ADB current account. The remaining interest of Ghc1,000 plus the principal of Ghc5,000 (Total: Ghc6,000) was added to another Ghc6,000 taken from dues to do an investment of Ghc12,000 at SIC-FSL on behalf of Club 89. The said investment of Ghc12,000 had grown to Ghc18,015.26 as at 8th October, 2019. (Kindly find statement attached).

11. OPERATION RESCUE GEORGE DUUBON SILVER COLLECTION

A total amount of Ghc14,679 was realized from the above-named contribution, out of which an amount of Ghc12,679 was spent on our brother George Duubon. Ghc8,600 was spent on accommodation, furnishing, hospital bills, etc (Find details attached). The remaining Ghc4,079 was spent on monthly stipends, etc until it run out. In the end some brothers had to donate extra funds, including Ghc1,000 from out brother Michael Agyei Takyi and another Ghc1,000 from our brother Theophilus Ofosu Ntiri, among other forms of assistance to enable George Duubon travel back to his hometown in the North.

12. KINGSLEY AGYARE AND ADOMAKO DENTEH

Out of the remaining Ghc2,000 from George Duubon’s contribution, Ghc1,000 was given to our brother Kingsley Agyare to help him sort out a financial emergency and the other Ghc1,000 was used to pay Dr. Adomako Denteh’s accommodation at the guest house, etc.

13. OPERATION 3 IN ONE (ORIGINALLY PLANNED FOR DR. ADOMAKO DENTEH BUT WE LATER ADDED KWAME SEM AND WILLIAM BARTELS HUTCHISON

Originally the above silver collection which realized an amount of Ghc10,202 was planned for our brother Dr. Adomako Denteh but we were informed about our brother Kwame Sem who was in some kind of financial distress so we gave him Ghc1,000. Another Ghc1,000 was given to out brother William Bartels Hutchison who was also in great financial need. The remaining amount Ghc8,202 which was spent on Dr. Adomako Denteh as explained in Point 14.

14. DR. ADOMAKO DENTEH

Out of the total amount of Ghc8,202 an amount of Ghc4,432 was used to pay for two years rent for him (near Ashonman Estate) as well as bed, mattress, medical bills, etc. Some brothers stepped in to provide some other necessities. The remaining Ghc3,770 was used to pay him monthly stipends among others until it run out and then our brother Dr. Douglas Alorgbey continued to support him until he got a job.

15. OPERATION YIBIMA (SILVER COLLECTION) FOR HARUNA GARBAH ISSAKAH WHO LOST HIS WIFE

An amount of Ghc2,307 was realized out of which Ghc1,010 was transferred to our brother Haruna Garbah Issakah (a.k.a. Man Chaka Chuku Pepe) via mobile money. The balance of Ghc1,297 was carried forward and deposited into our Club 89 Account.

16. SILVER COLLECTION FOR DANIEL ANKRAH AND NEWLOVE NII NOI NORTEY

This contribution yielded a total amount of Ghc9,617 out of which an amount of Ghc3,800 was paid towards Mr. Daniel Ankrah’s wife’s medical bills (MRI, Drugs, etc); Newlove Nii Noi Nortey was also paid an amount of Ghc707 having earlier appealed for Ghc700 cedis to help with urgent medical attention for his sister; leaving a balance of 5,110cedis (Kindly refer to point 17).

17. APOSTLE ALFRED ASARE-ACKOM AND THE LATE MR. OSEI KWADJO

Out of the Ghc5,110, an amount of Ghc1,010 was given to our brother Apostle Alfred Asare-Ackom whose house got flooded (other brothers chipped in something privately to help him); Another Ghc1,010cedis was paid to our late Representante  Mr. Osei Kwadjo; Uber services to and fro amounted to 100cedis, leaving a balance of 2,990cedis which was transferred into the Club’s account.

18. SILVER COLLECTION FOR ISAAC MENSAH ADDO

This contribution yielded an amount of Ghc3,916 out of which Ghc3,000 was given to Ike’s wife at the 37 Military hospital to start some trading. The remaining Ghc916 was spent on expenses related to the children’s schooling.

19. SOFT LOAN FROM S.O.S. 89 REVOLVING FUND TO KINGSLEY AGYARE

In September 2017, our brother Vincent Siaw-Sakyi came up with an idea to help our brothers who needed funds to set up their own small businesses. He therefore initiated a silver collection off the main platform which yielded an amount of Ghc10,300. This was supposed to be a revolving fund with a flexible repayment schedule of up to 20 months without interest so that as it is being repaid, the next member with a good business idea could also use it to establish himself and pay back. The full amount of Ghc10,300 was paid to our brother Kingsley Agyare to start a restaurant business. He has been able to repay an amount of Ghc1,100 which has been deposited in the Club’s Account, leaving a balance of Ghc9,200 to be refunded by him.

20. GHC1,200 SOFT LOAN REPAID BY WISDOM KWAME AKORTIA 

Our brother Wisdom Kwame Akortia was given a soft loan of Ghc1,200 in March 2018 to sort out an emergency issue with his rent. He repaid the full amount in December 2018. He requested for another loan but we were unable to honour it due to pending requests from other members.

21. GHC2,500 SOFT LOAN REPAID BY APOSTLE ALFRED ASARE-ACKOM

Our brother Apostle Alfred Asare-Ackom was given a soft loan of Ghc2,500 to sort out an emergency with his accommodation after his home was flooded. He repaid it in full after a month and requested for a new loan but we were unable to honour it due to pending requests from other members.

22. SOFT LOAN TO ANONGRE AGUYA

Our brother Anongre Aguya was given a soft loan of Ghc1,500 to sort out an emergency payment with his landlord. He has repaid an amount of Ghc900, leaving a balance of Ghc600 which he has promised to settle in due course.

23. SOFT LOAN TO BERNARD KODJO

Our brother Bernard Kodjo was given a soft loan of Ghc5,000 to sort out a pressing accommodation issue in January 2019, out of which he has repaid Ghc500 and issued nine (9) post-dated cheques of Ghc500 each to clear the remaining balance of Ghc4,500.

24. SOFT LOAN TO EMMANUEL AMANKWAH

Our brother Emmanuel Amankwah who, with the assistance of some brothers, has set up a new business in Sunyani earlier this year, requested for a loan of Ghc2,000 to complete his office set up. The business is gradually picking up so our brother Theophilus Ofosu Ntiri served as his Guarantor has issued a cheque of Ghc2,000 to repay the loan.

25. LOAN WITH INTEREST TO REGINALD EMMANUEL YAWSON

Our brother Reginald Emmanuel Yawson was given a loan of Ghc10,000 to help pay for the emergency surgery of his sister in May 2018. Due to the amount involved, he agreed to repay the loan with an interest of 10% in two instalments (2 post-dated cheques of Ghc5,500 each) In spite of several serious personal challenges encountered along the way, he has managed to repay the full Ghc10,000 plus the interest of Ghc1,000.

26. STANDARD WELFARE BENEFICIARIES

1. Dr. Boamah Boateng’s Father’s Funeral Ghc1,010 

2. Mr. Paul Zeng’s Daughter’s demise Ghc505 (Reported later by Jonas Nanzoninge)

3. Mr. Thomas Yao Ametepe’s Foot Injury Ghc1,212

4. Vande’s Wife’s Funeral Ghc1,010

5. Edward’s Combey’s daughter’s autopsy and burial GHC1,010 

Sub Total Ghc4,747

27. 30TH ANNIVERSARY CONTRIBUTION 

A total amount of Ghc32,600 was collected from contributors between January and September 2019. However, the full amount of Ghc32,600 was refunded to the individual contributors due to the cancellation of the Anniversary Celebrations.

28. SUMMARIES – TOTAL CONTRIBUTIONS/RECEIVABLES FROM JUNE 2016 TO OCTOBER 2019

1. DUES COLLECTED (P. 3) GHC20,180

2. PHOBIA’S FUNERAL (P.6) GHC11,378

3. T’BILL INTEREST (P.6) GHC616

4. ROMEO’S FATHER (P.7) GHC2,350

5. AMOATENG/LEWIS (P.8) GHC3,200

6. ADB T’BILL INTEREST (P.10) GHC1,154

7. OPERATION DUUBON (P.11) GHC14,679

8. OPERATION 3 IN 1 (P.13) GHC10,202

9. OPERATION YIBIMA (P.15) GHC2,307

10. ANKRAH/NEWLOVE (P.16) GHC9,617

11. ADDO MENSAH (P.18) GHC3,916

12. VINCENT BIZ. FUND (P.19) GHC10,300

13. 30TH ANNIV CONTR (P.26) GHC32,600

14. YAWSON LOAN INTEREST (P.25) GHC1,000

15. VARIOUS LOAN REPAYMENTS GHC16,200

GRAND TOTAL = GHC139,699

29. SUMMARIES – WELFARE BENEFICIARIES

1. BIRGITTE ODAE NTI (P.6ii) GHC7,000

2. JANET-PHOBIA’S WIDOW (P.6iii) GHC1,000

3. KWAME SEM (POINT 6) GHC616

4. ROMEO’S FATHER (P.7) GHC1,010

5. SAMUEL AMOATENG (P.8) GHC1,010

6. LEWIS AGYEI (POINT 8) GHC1,010

7. GEORGE DUUBON (P. 11) GHC12,679

8. KINGSLEY AGYARE (P.12) GHC1,000

9. ADOMAKO DENTEH (P.12) GHC1,000

10. KWAME SEM (POINT 13) GHC1,000 

11. WILLIAM BARTELS (P.13) GHC1,000 

12. ADOMAKO DENTEH (P.12) GHC8,202

13. HARUNA ISSAKAK (P.15) GHC1,010 

14. DANIEL ANKRAH (P.16) GHC3,800

15. NEWLOVE NORTEY (P.16) GHC707

16. ALFRED ACKOM (P.17) GHC1,010 

17. MR. OSEI KWADJO (P.17) GHC1,010 

18. ADDO MENSAH (P.18) GHC3,916 

19. BOAMAH BOATENG (P.26) GHC1,010 

20. PAUL ZENG (POINT 26) GHC505

21. YAO AMETEPE (P.26) GHC1,212 

22. VANDE-PALLEN (P.26) GHC1,010 

24. EDWARD COMBEY (P.26) GHC1,010 

SUB TOTAL = GHC52,727

30. 30TH ANNIVERSARY REFUNDS

FULL AMOUNT REFUNDED TO ALL CONTRIBUTORS GHC32,600

31. OTHER EXPENSES

1. ESBECAN ASSOCIATION (P.6iv) GHC1,000 

2. ADB ACCT REACTIVATION (P.6v) GHC200

3. GCB SAVINGS ACCT (P. 6vi) GHC178

4. SIGNATORIES PHOTOS (P.20) GHC20

5. AMOUNT LEFT IN ADB (P. 10) GHC154

SUB TOTAL GHC1,552

32 TOTAL SOFT LOANS DISBURSED

1. KINGSLEY AGYARE GHC10,300 (PD. 1100)

2. WISDOM AKORTIA GHC1,200 (PD 1200)

3. ALFRED ACKOM GHC2,500 (PD 2500)

4. ANONGRE AGUYA GHC1,500 (PD 900)

5. BERNARD KODJO GHC5,000 (PD. 500) 

6. EMML AMANKWAH GHC2,000 (UNPAID)

7. EMML YAWSON GHC10,000 (PD 10,000)

TOTAL LOANS DISBURSED GHC32,500

AMOUNT REPAID GHC16,200

AMOUNT TO BE COLLECTED GHC16,300

33. CLUB 89 INVESTMENTS

1. REFERENCE POINT 6 vii Ghc2,000

2. REFERENCE POINT 7 Ghc1,340

3. REFERENCE POINT 8 Ghc1,180

4. From Dues (Ref Pt. 9) Ghc500 

Total Ghc5,020 less Ghc20 for passport pictures for signatories.

AMOUNT INVESTED GHC5,000

PLUS ADB TBILL INTEREST GHC1,000

PLUS AMOUNT FROM DUES GHC6,000

TOTAL INVESTMENT *GHC12,000

CURRENT VALUE OF INVESTMENT GHC18,015.26

34. BANK CHARGES AND CHEQUE BOOK COST GHC689.96.

35. SURPLUS/DEFICIT ACCOUNT

TOTAL CREDITS (POINT 28) GHC139,699.00

1. LESS ALL WELFARE BENEFICIARIES (POINT 29) GHC52,727 

2. LESS TOTAL 30TH ANNIVERSARY REFUNDS (POINT 30) GHC32,600

3. LESS OTHER EXPENSES (POINT 31) GHC1,552

4. LESS TOTAL LOANS DISBURSED (POINT 32) GHC32,500 

5. LESS TOTAL INVESTMENTS (PRINCIPAL: P. 10 AND 11) GHC12,000

6. BANK CHARGES AND CHEQUE BOOK COST (P.32) GHC689.96

SUB TOTAL GHC132,068.96

TOTAL CREDITS GHC139,699.00

LESS DEBITS GHC132,068.96

ACCOUNT BALANCE *GHC7,630.04 

36. BANK BALANCES – SURPLUS/DEFICIT 

GCB CURRENT BALANCE GHC12,949.04

ADB CURRENT BALANCE GHC60.61

TOTAL BANK BALANCES13,009.65

LESS ACCOUNT BALANCE GHC7,630.04

VARIANCE (SURPLUS) GHC5,379.61 

NOTE: This report spans a period of 28 months with various projects running concurrently. Due to challenges with the immediate availability of signatories to the Club’s bank account and the emergency nature of some welfare issues, some members were called upon at various times to make payments to some beneficiaries after which they were scheduled to be reimbursed, only for new emergencies to crop up where they are called upon again. Duubon and Adomako’s projects easily come to mind. This, as well as some inadvertent omissions or commissions could account for this surplus. Members are encouraged to scrutinise all the accounts rendered to ensure that all account receivables and payables have been captured adequately.

Ghc5,379.61 (SURPLUS) SUSPENSE ACCOUNT

37. BALANCE CARRIED FORWARD PLUS ACCOUNT RECEIVABLES

ACCOUNT BALANCE GHC7,630.04

INVESTMENT ACCOUNT GHC18,015.26

PENDING LOANS REPAYMENT GHC16,300

GRAND TOTAL C/F: GHC41,945.30 which is 47.60% of total welfare dues/silver collection contributions of Ghc88,129

PLUS Ghc5,379.61 (SURPLUS) SUSPENSE ACCOUNT

End of Financial Report

Signed…………………………………….

DANIEL SELASI AYANU (Financial Secretary)

Signed…………………………………….

REGINALD EMMANUEL YAWSON (Chairman)

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