SANFL AGM Reports

[wedgetail]

Uby Fadoul a very costly appointment for the Eagles. I would suggest he is the main cause of the loss. Kurt Slaven kept referring to a hiccup the club had during the year. You don't have to be a brain surgeon to work out that Uby was the hiccup. Yes, I was at the AGM. Bar was not thrown open to members at end of the meeting so things must be tight!

[Mark_Beswick]

Reading the WWT report tonight, I think the league player list is wrong - I have T. Sumner 1 game and B Sumner 17 - They Have no T. Sumner with B. Sumner 18 games -

Can anyone confirm my stats?

[RB]

Yeah Tim Sumner was drafted at the end of 2012 and played at the Gold Coast in 2013.

[UK Fan]

So the story so far is...

Massive losses for South, Torrens, Glenelg.

Profits for North and West.

Centrals over $200k loss for 2013

[Mark_Beswick]

Just went through the SANFL stats again online and they Have in error > Rd 1 > T. Sumner jumper 9 - I copied the initial into the database but should have realised the jumper matched Byrons

Thanks Guys

[UK Fan]

Good to see the same BS being sold to Norwood members by CEO.

If it was inevitable why did you need to be bribed into voting YES ??? if your club had the balls of South and Centrals then the SANFL reserves would of been voted against you sell outs .south and centrals were to scared of supporter backlash if they voted YES. how competent of them. Obviously no fear of the spineless cowards that are NFC members down at the parade.

And It's the SANFL that is corrupt as opposed to NFCs board ???

If you can't beat them sellout to the highest bidder !! Can someone quote that in Latin for Norwood to adopt as their motto.

Richard Kelly to Port Power hilarious!!!!

[johntheclaret]

Good to see the same BS being sold to Norwood members by CEO.

If it was inevitable why did you need to be bribed into voting YES ??? if your club had the balls of South and Centrals then the SANFL reserves would of been voted against you sell outs .south and centrals were to scared of supporter backlash if they voted YES. how competent of them. Obviously no fear of the spineless cowards that are NFC members down at the parade.

And It's the SANFL that is corrupt as opposed to NFCs board ???

If you can't beat them sellout to the highest bidder !! Can someone quote that in Latin for Norwood to adopt as their motto.

Richard Kelly to Port Power hilarious!!!!

Nil Destructum Flogivm Maximinium Bastardos

[gobloods]

A little curious about Norwood's 2013 Financials. The Sunday Mail told us, on the weekend, that the 2013 profit was $177,739 and in 2012 it was $239,388. And Geoff Baynes was pretty pleased about that. As well he might be.

If you go to the club website at : http://www.norwoodfc.com.au/News/LATEST ... LOSS_.aspx
you will find that the 2013 year resulted in a loss of $(169,597) for the Football Club and a profit of $34,565 for The Redlegs Club.
An overall loss of $(135,032).

The 2012 results are there too, for an overall loss of $(556,363). Now there was a loan written off in 2012 of $647,958 in the Football Club so you might argue that the net trading result was a profit of $91,595. You might. You would certainly argue that it was an extraordinary event.

But I cannot work out how the Mail's figures were arrived at.

Mind you there is no Profit and Loss Appropriation Account nor any Balance Sheets so the picture is incomplete.

Any info from the AGM?

[dedja]

Your assessment looks spot on ...

[DOC]

They had our loss at 40K when it was $140k. IF memory serves me, it seldom does, Norwood had to take $544k of its bottom line in 2012 from a property on the Parade.

I understand that this caused a query from the SANFL at the time which Norwood must have found an answer to.

[The Sleeping Giant]

They had our loss at 40K when it was $140k. IF memory serves me, it seldom does, Norwood had to take $544k of its bottom line in 2012 from a property on the Parade.

I understand that this caused a query from the SANFL at the time which Norwood must have cut a deal.

[gobloods]

A little curious about Norwood's 2013 Financials. The Sunday Mail told us, on the weekend, that the 2013 profit was $177,739 and in 2012 it was $239,388. And Geoff Baynes was pretty pleased about that. As well he might be.

If you go to the club website at : http://www.norwoodfc.com.au/News/LATEST ... LOSS_.aspx
you will find that the 2013 year resulted in a loss of $(169,597) for the Football Club and a profit of $34,565 for The Redlegs Club.
An overall loss of $(135,032).

The 2012 results are there too, for an overall loss of $(556,363). Now there was a loan written off in 2012 of $647,958 in the Football Club so you might argue that the net trading result was a profit of $91,595. You might. You would certainly argue that it was an extraordinary event.

But I cannot work out how the Mail's figures were arrived at.

Mind you there is no Profit and Loss Appropriation Account nor any Balance Sheets so the picture is incomplete.

Any info from the AGM?

UPDATE!
A Norwood friend copied this from a blog:

"Ben Seekamp gave a financial report. I think he said that the relevant
page in the Annual Report is missing a concluding paragraph. The biggest
point I got from his summary was that there has been a very successful
concerted effort to reduce the costs of putting the teams on the park
and running games, which has been of real benefit to the finances as a
whole. The trust, which does not have to report like the NFC and Redlegs
Club, reported a net surplus of over $200 thousand, meaning all the
entities combined had a total surplus of over $65 thousand. There was
mention that treating depreciation differently, and not having the pay
the salary-cap reporting breach fine would give a net surplus closer to
$200 thousand; but as I have said before, I will never understand the
complexities of the club’s finances. Ben took questions about electrical
costs & solar; depreciation & replacement of stock; and whether the
SANFL is concerned about the finances of other clubs."

I am still curious and only a little more confused.


So what does the Trust do and for whose benefit does it operate?

If the Trust had a surplus of $200k then I would presume that normal
accounting is to "distribute" the profit to the beneficiaries - which if the
Trust is actually part of the NFC Group means that distribution should show
up as income in one of either the NFC (more likely) or the Redlegs Club. No
matter what the answer you would think there should be some accounting from this
entity if it is part of the Norwood "group".

Not suggesting any impropriety...just still very curious, that's all.

[JK]

Secret Society at the Parade mate. Im yet to meet one member that has ever understood the clubs annual financial reports or moreso how it arrives at its bottom line.

[gobloods]

Hmmm...might start working on the handshake?

[JK]

I wouldn't trust that either

[dedja]

Correct again gobloods.

Any dividends, donations, etc must be reported in the financial statements.

If they aren't then they don't exist.

Fairly basic account practice but then again we are talking Norwood here.

At least my mob has accurately and transparently presented the financials to members.

[topsywaldron]

Correct again gobloods.

Any dividends, donations, etc must be reported in the financial statements.

Not sure that's the case, not saying I agree but reckon clubs can pretty much report what they want however they want.

A compliant, gullible membership base helps though.

[csbowes]

Has there been much debate about the reserves at the AGM meetings?

[csbowes]

Did anyone go to the Sturt AGM?

[SANFLnut]

Not Matt Benson........