Ecky wrote: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
The Football Club's income from Transfers, Sponsorship, SANFL Dividend was down by $100k from 2012.
Also a grant of $255k was received in 2012 - this compares to a grant of $25k in 2013. Having a grant like that in 2012 masks an underlying income problem that is laid bare when that grant money falls away!
Footy expenditure up by $60k but they managed to reduce admin expenses by $115k.
My impression is that most clubs, if not all, tend to spend whatever on the football department and then hope the social club and sponsorship will cover it and if that doesn't happen, they just repeat with more fingers crossed rather than plan to pay off the debt just incurred.
I'd guess all clubs have debt, but what matters is who has debt like a mortgage, something that represents a capital gain like we have housing mortgages, versus those that have a debt incurred just through continual financial mismanagement.
I know Norwood cop a bit from both within and outside for not having clubrooms, but it seems that for many those clubrooms (associated cosst and debt) can be a noose (as it was for us when we last had some) that are difficult to turn around.
Eagles combined loss of $300k in 2013 compared to profit of $160k in 2012.
Includes grant income of $115k (2013) and $229k (2012).
Underlying loss of $415k in 2013 compared to underlying loss of $69k in 2012.
Glaring line in the Eagles Club expenses is the catch all "Other Overheads" up from $451k to $661k.
Membership revenue down $28k and SANFL distribution down $20k.
Bar & Bistro actually doing a very good job but the cost of running a footy club is getting harder and harder. Eagles Club made a profit of $741k before rent and distribution to the Football Club.
Excluding depreciation and fundraising expenses it cost about $2m to put 3 teams on the park last year.
areaman wrote:Eagles combined loss of $300k in 2013 compared to profit of $160k in 2012.
Includes grant income of $115k (2013) and $229k (2012).
Underlying loss of $415k in 2013 compared to underlying loss of $69k in 2012.
Glaring line in the Eagles Club expenses is the catch all "Other Overheads" up from $451k to $661k.
Membership revenue down $28k and SANFL distribution down $20k.
Bar & Bistro actually doing a very good job but the cost of running a footy club is getting harder and harder. Eagles Club made a profit of $741k before rent and distribution to the Football Club.
Excluding depreciation and fundraising expenses it cost about $2m to put 3 teams on the park last year.
Anyone go to the Eagles AGM the other night? Any news to report that adds to the above? I see Powell got life membership and Luke Jarrad inducted in to the stairway of champions. Good for them.
areaman wrote:Eagles combined loss of $300k in 2013 compared to profit of $160k in 2012.
Includes grant income of $115k (2013) and $229k (2012).
Underlying loss of $415k in 2013 compared to underlying loss of $69k in 2012.
Glaring line in the Eagles Club expenses is the catch all "Other Overheads" up from $451k to $661k.
Membership revenue down $28k and SANFL distribution down $20k.
Bar & Bistro actually doing a very good job but the cost of running a footy club is getting harder and harder. Eagles Club made a profit of $741k before rent and distribution to the Football Club.
Excluding depreciation and fundraising expenses it cost about $2m to put 3 teams on the park last year.
Anyone go to the Eagles AGM the other night? Any news to report that adds to the above? I see Powell got life membership and Luke Jarrad inducted in to the stairway of champions. Good for them.
The big news out of the night was that the club plans to sell the land and buildings of the Bar & Bistro on Port Rd. They want to use this money to pay off the club debt (just over $2m) whilst leasing back the premises to continue to operate from there.
This will see the club debt free. Cashflow problems emerged during 2013 which they want to prevent happening again.
Otherwise a pretty standard evening at which I think I was the youngest attendee by about 40 years - excluding the players who were there of course.
