SANFL AGM Reports

[csbowes]

I thought it would be good to start a thread where club members could provide a report on their respective club AGMs. This years AGMs should prove interesting with a number of topics likely to be raised by members :-

(a) Crows / Power Reserves Admission (with or without consultation)

(b) Demise of the Port Adelaide Magpies, who leave the league after 140 odd years of competition

(c) Financial irregularities

(d) Debt Demolition type activities

Please do make the effort to report back, as many members and non-members of your club will be keen to hear your views...

[areaman]

Interesting move by the Eagles to reappoint their existing auditors to perform the audit of the 2013 Financial Statements.

The initial set of published statements for 2012 had numerous glaring mistakes. Nobody at the club was aware of this until contacted in the days leading up to the AGM last year.

Apparently an earlier draft version was published by mistake. The club's former CEO said that he'd recommend a review of the audit contract to the Board.

Surely this should have seen some new auditors with a fresh set of eyes appointed to look at the 2013 statements. Sadly, no.

[Mark_Beswick]

Which clubs (if any) have sent out their annual reports?

I know westies are in draft from at the moment -

[Big Phil]

Which clubs (if any) have sent out their annual reports?

I know westies are in draft from at the moment -

Central have sent out their report and, for the first time, is available either online or as a hard copy...

[Ian]

North's came by email today

[Wedgie]

North a profit of $208,466, debt reduced by $331,772 to $2.98 mil including the Grand North, Northern Tavern and new Pavillion at Prospect Oval.
Total equity of $3,871,955.
Income from memberships: $136,995
Income from sponsorships: $368,403.
In all it looks pretty damn good considering we were broke 11 years ago and continues an amazing turnaround.

[SDK]

Wedgie how many times was that gigantic window broken by cricket balls over summer ?

[maxyoz]

Glenelgs Annual Report emailed out today, not great reading.

Net Loss of $574k.

Congratulations to the Award Winners/ Club Person of the Year/ Life Members/ etc

[johntheclaret]

Wedgie how many times was that gigantic window broken by cricket balls over summer ?

None, but fortunately England were using Prospect as their training ground

[dedja]

Glenelgs Annual Report emailed out today, not great reading.

Net Loss of $574k.

Congratulations to the Award Winners/ Club Person of the Year/ Life Members/ etc

LOL ... well played

[Brodlach]

I am hearing a profit for West for the first time in years

[Wedgie]

How much money do the Bays have left? Could be wrong but remember more losses than profits in recent times.

[dedja]

The Annual Report and the associated financial statements are on the club website.

Back in a perilous position again unfortunately and reserves have been drawn down significantly.

It seems the $500K redraw from the Council has possibly prevented insolvency.

[Wedgie]

Geez, they recruited alright for a club that's almost broke!

[csbowes]

Geez, they recruited alright for a club that's almost broke!

I think a bunch of clubs trade without taking into account their financial situation

But that's a MASSIVE loss in one year, $574K... geez! I really don't understand how clubs do that... was there any one off expenses or write downs that would account for most of that or was it a simple case of spending what they didn't have?

[JohnnyG]

If the SANFL can give multi-million $ handouts to a traitorous club like Port Power then surely it can assist any of the real and loyal 8 SANFL clubs when they need it.

[Ecky]

But that's a MASSIVE loss in one year, $574K... geez! I really don't understand how clubs do that... was there any one off expenses or write downs that would account for most of that or was it a simple case of spending what they didn't have?

The simple answer is that it is mainly due to a huge decrease in profits from the Footballers Club (which covers food, drink, pokies and the function centre). The club needs approx $500K profits from them to break even to offset the losses made from the footy department spending (which has remained relatively constant, along with sponsorship and other footy related income)

Footballers Club Profits
2009: $456K
2010: $401K
2011: $593K
2012: $329K
2013: $68K

The 2011-2012 drop was mainly pokies. The 2012-2013 drop was mainly food/drink/function centre.

That's my interpretation of the financial statements anyway.

[Grahaml]

That's a massive drop over the last 2 years. You'd hope that there are either good reasons (upgrades etc) or that the money is being accounted for in a different spot. If those numbers fairly reflect the situation though someone's dropped the ball badly.

[heater31]

That's a massive drop over the last 2 years. You'd hope that there are either good reasons (upgrades etc) or that the money is being accounted for in a different spot. If those numbers fairly reflect the situation though someone's dropped the ball badly.

Legal fees associated with the lights application, and the installation of them taken into account with those figures?

[Ecky]

I don't think any of that is related to this decrease.

From 2012-2013 liquor profits decreased by $163K, bistro and function centre profits decreased by $119K and pokie profits decreased by $14K.*

*all subject to me understanding the financial statements correctly