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Author Topic: Prize Fund  (Read 8583 times)

MrNickRo

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Prize Fund
« on: October 31, 2013, 11:06:04 AM »
We recently clinched one of four roll off spots in out scratch league and I'm curious as to what kind of prize fund we have to look forward to.

Prize fund is roughly $11 of the weekly lineage and there are 15 teams with 5 people per team.  This would equate to about 26,400 as the year end prize fund.  There is also a .50 cent penalty for bowling 20 pins under your average, so this buffs the fund slightly.

It's fairly competitive, so I'm guessing the difference in payouts will be higher accordingly.  Anybody ever been in a similarly sized league/prize fund and remember what the payouts were like?

We are guaranteed at least 4th at this point.

 

JOE FALCO

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Re: Prize Fund
« Reply #16 on: November 05, 2013, 04:29:49 PM »
Either of the two scenarios are a PRIZE FUND offering. Suggesting that 70 or 75% of the money be set aside for TEAM distribution tells you NOTHING!

My definition of a prize fund recommendation from a committee is to define how much will be giving to each team(as per their standing at end of season) as well as the amounts to be giving to individual accomplishments. A percentage separating individual awards and team reward should have been considered when developing the PRIZE LIST! If what you say is TRUE that the committee gave what was requested of them .. you have only the officers of the league to blame .. The committed did half their job and it was not something that should be offered for a vote to the League.

That's my opinion .. which is not cut in stone!.
RIP Thongprincess/Sawbones!

JOE FALCO

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Re: Prize Fund
« Reply #17 on: November 05, 2013, 04:34:10 PM »
Additional comment: No one can predict changes (teams or individuals leaving) and it is always necessary for the Secretary (officers) to enhance the prize Fund accordingly at seasons end!
RIP Thongprincess/Sawbones!

RMColorado

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Re: Prize Fund
« Reply #18 on: November 06, 2013, 07:34:25 AM »
Joe Falco — No disrespect intended, but some of your statements are self-contradicting, your protests have already been addressed, and your last statement

Additional comment: No one can predict changes (teams or individuals leaving) and it is always necessary for the Secretary (officers) to enhance the prize Fund accordingly at seasons end!

is very confusing. What, exactly, do you mean by the necessity of league officers enhancing a Prize Fund at season's end?

Given your advanced years of league experience, you must have retained some past records as to actual league costs, how a Prize Fund was determined, what the Prize List distribution projections were, and the amounts paid at year's end.

If you would share the actual figures for just one league, I'm sure we can determine if your persistent whining that "percentages mean nothing" is valid or not.

spmcgivern

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Re: Prize Fund
« Reply #19 on: November 06, 2013, 07:49:26 AM »
RM, I understand the difference between the 70% and 75% values.  The more money in the league, the larger the difference in allotted money the 5% represents. 

Maybe my issue has more to do with my league's prize fund offerings and not so much yours.  But the two offers you have are not what I would call significantly different.  Especially if what you say about place amounts being somewhat set. 

I am trying to locate my league's offers to show what I am referring to.  As an example, if you assume the first place team gets one first place team award (game or series), the the offers only had a difference of $10 per person.  That represents the spectrum of the prize funds.  That to me is ridiculous.

RMColorado

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Re: Prize Fund
« Reply #20 on: November 06, 2013, 10:22:20 AM »
RM, I understand the difference between the 70% and 75% values.  The more money in the league, the larger the difference in allotted money the 5% represents. 

Maybe my issue has more to do with my league's prize fund offerings and not so much yours.  But the two offers you have are not what I would call significantly different.  Especially if what you say about place amounts being somewhat set. 

I am trying to locate my league's offers to show what I am referring to.  As an example, if you assume the first place team gets one first place team award (game or series), the the offers only had a difference of $10 per person.  That represents the spectrum of the prize funds.  That to me is ridiculous.

I agree.

But, using that figure, we have to keep in mind $10 per person = $50 per 5-player team, and at 28 Teams the total difference is $1,400. Most league bowlers don't think about the math. They typically make assumptions and deem the dollar amounts acceptable or not, usually based upon past payouts.

I'm calculating and quoting percentages (from actual dollar amounts) only because the number of teams, players, fees and costs vary from league to league. That I'm not showing actual dollar amounts seems to be causing a perception problem, which is why I suggested creating a personal spreadsheet for anyone wanting to check out their own league's distribution schemes. The main thing is that the math is correct.

[My main gripe is that I had to repeatedly ask to see the final Sec/Treasurer's report from a league I was in last year. The officers didn't automatically publish the final distributions that were made and were not very cooperative in divulging them later on. Everyone showed up to grab their money, then left. I would think the report would be immediately available, as handout to anyone interested, but such is not the case.]   
« Last Edit: November 06, 2013, 10:36:37 AM by RMColorado »

spmcgivern

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Re: Prize Fund
« Reply #21 on: November 06, 2013, 11:20:19 AM »
It is my understanding the actual payout amounts must be included in the prize funds when voted upon.  I would never accept percentages as you have shown as a prize fund.  Too much is unknown.

JOE FALCO

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Re: Prize Fund
« Reply #22 on: November 06, 2013, 11:30:05 AM »
Quote from: JOE FALCO on November 05, 2013, 04:34:10 PM
Additional comment: No one can predict changes (teams or individuals leaving) and it is always necessary for the Secretary (officers) to enhance the prize Fund accordingly at seasons end!

is very confusing. What, exactly, do you mean by the necessity of league officers enhancing a Prize Fund at season's end?

CONFUSING? ..If a prize fund is agreed upon in the 3 rd week of league .. and during the term of the league there are changes due to teams/individuals quitting .. someone has to adjust the prize fund distribution at the end of league. Secretary/treasurer/president should be responsible to make changes. Why are you interested in payouts of other leagues? Each league has a committee to create a prize fund to be voted on by the league.

What you presented as a percentage is only separating team money from individual awards. My comment is that is NOT a prize fund that I would put to my league for a vote .. it tell the league NOTHING! If I was developing a Prize Fund I would start by separating the amounts for individuals and then spread the remaining fund to teams. I would make sure that the amounts set aside for individuals doesn't EXCEED what individuals are receiving as members of a TEAM.(Example: !st place team gets $150 per man .. don't give high average $175)

I think you are making too much of this .. bowlers assigned tasks of distribution aren't accountants. They are giving the amounts of available funds and asked to create .. exactly what is your goal? You want the prize fund top heavy? You want individual awards to be HIGH? Does dividing the prize fund to separate piles for individuals and teams give you anything? Perhaps you can explain what that does for the league members?
RIP Thongprincess/Sawbones!

spmcgivern

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Re: Prize Fund
« Reply #23 on: November 06, 2013, 11:34:56 AM »
In his defense Joe, your original comment made is sound like you thought the league officers were responsible of "making up" any monies lost due to teams/individuals quitting.  Your new statement clarifies what I am sure all bowlers feel is required.

MrNickRo

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Re: Prize Fund
« Reply #24 on: November 06, 2013, 01:58:39 PM »
What I really wanted to know is what is common practice for distribution of prize funds to each place.

A % prize fund $'s to 1-4 for a hop heavy/evenly distributed prize fund.

I believe ours will be on the top heavy end, so I was curious what type of distribution I might expect.

RMColorado

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Re: Prize Fund
« Reply #25 on: November 06, 2013, 02:44:08 PM »
JOE — How about this . . .

Revision of your statement: "No one can predict changes (teams or individuals leaving) and it is always necessary for the Secretary (officers) to enhance ADJUST the prize Fund accordingly at seasons end!" Because I already covered this issue, I became confused as to your meaning.

Also, I apologize—to all—for my own poor wording in not being specific about the percentages. Indeed, projected actual dollar amounts were shown to the membership, and they were subject membership approval plus the above noted adjustments at the season's end.

I did not include the actual figures because every league is different; therefore, using the percentages was more relevant should anyone want to make comparisons between my league and their own — which, as I suggested, would be easier to calculate and compare using their own spreadsheet and their own league statisitcs.

What would be totally meaningless is for someone to demand seeing actual prize fund disbursements exclusively in dollar amounts! This is because doing so ignores fees and costs. For example, lets say BOWLER IGNORAMUS boasts that his team gets a whopping $5,000 for taking 1st Place, so he belittles BOWLER PEEWEE, who comes up short with his team's $1500 1st Place award. THIS MEANS NOTHING because it's unknown how much they are paying per week, nor what their respective lineage fees are. It could well turn out that PEEWEE is getting a lot more bang for his buck than IGNORAMUS. So, for actual comparison purposes, until IGNORAMUS figures out his own return percentages, he's really got nothing but a bowl of limp noodles against the hard facts that percentages represent.

Are we on the same page now? I hope so. ;D

RMColorado

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Re: Prize Fund
« Reply #26 on: November 06, 2013, 02:50:57 PM »
What I really wanted to know is what is common practice for distribution of prize funds to each place.

I believe ours will be on the top heavy end, so I was curious what type of distribution I might expect.

Sorry. Got off subject, kind of.

I don't know that a "common practice" actually exists. However, your Sec or Treas ought to be able to give you a pretty good idea based upon the projected percentages and costs that we've been focusing on.

At any rate, Good Luck and Bowl Well!

Let us know how you come out!!!   
« Last Edit: November 06, 2013, 02:56:28 PM by RMColorado »

MrNickRo

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Re: Prize Fund
« Reply #27 on: November 06, 2013, 03:03:58 PM »
Thanks, RM.  I enjoy reading the argument.  I know I can ask, but I was also curious about what other people were seeing around their leagues.

I'll sit back and enjoy.

RMColorado

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Re: Prize Fund
« Reply #28 on: November 06, 2013, 03:56:52 PM »
I wish others would kick in at this point, but my experience is that few very bowlers go much beyond the dollar figures. It takes time and effort to gather facts and sort them out, so we'll have to wait and see what comes.

I've been in three types of leagues: One totally ran itself with its own officers, and the accounting was down to the penny with open books. The second kind, and there have been several like this, has officers that are dependent upon the House keeping track of the scores and have to go back to them if there's a question. I've found several big mistakes that otherwise would have gone unaddressed, and the books weren't easily opened. The third type is one that is exclusively run by the House, and here I often no longer even bother trying to keep track because of the problems that questions have raised. I try to stay clear of them.

My favorite House does not have the latter 2 negatives, so that's where I always bowl leagues that matter to me. There I get straight answers, often immediately, from a candid, fully open manager. If there's actually a mistake, she makes corrections on the spot and thanks me. That's not to say I go looking for errors. I don't. But I do keep track of things related to my team and ask questions when my numbers don't equate to the House reports.

JOE FALCO

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Re: Prize Fund
« Reply #29 on: November 06, 2013, 04:30:40 PM »
Revision of your statement: "No one can predict changes (teams or individuals leaving) and it is always necessary for the Secretary (officers) to enhance ADJUST the prize Fund accordingly at seasons end!" Because I already covered this issue, I became confused as to your meaning.

WOW!


RIP Thongprincess/Sawbones!

spmcgivern

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Re: Prize Fund
« Reply #30 on: November 06, 2013, 07:55:29 PM »
Enhance - intensify, increase, or further improve the quality, value, or extent of.

Adjust - alter or move (something) slightly in order to achieve the desired fit, appearance, or result.

Joe, based on the above definitions, I would go with "adjust" based on your replies.