I think I’ve mentioned my company’s cash-flow crunch. At a meeting this week, another business owner quoted her mentor “if you haven’t had cashflow problems you haven’t been in business”. I’ll draw solace from that.
Instead of throwing 100% of my efforts into fixing this problem, I have to divert attention to dealing with retired family members. My takeover agreement allowed for a generous set of… let’s call them retirement benefits.
I haven’t audited these expense claims too closely until this week. My casual check scared me to death. Dad’s credit card expenses are running at 15 times budget! Right now, all I want to do right now is plug that fiscal drain and scream a bit.
Instead I am auditing 12 months of expense claims and preparing to a bill for him (once he returns from South Mole Island. Christmas lunch may be somewhat strained if I ban my father from company premises. I expected this to be a win-win relationship. The evidence suggests I’ve been a schmuck. By initial estimates it looks like his drawing from the company over the last 12 months has been 400% of our agreement.