SANFL Club profits

[Bunton]

At the AGM in a few weeks I'd say!
My guess would be a small loss may be on the cards to accommodate the clubroom refurbishment.
These things tend to get worked to reduce tax liablity and set up future financial goals.
I believe we are very solid though or there was no
way the Eagles could have afforded the refurbishment in this particular economic climate.
Taking on a CEO with very little footy background but a solid business CV tells you what is the most important aspect of a SANFL club in 2013.

Goodness me Holden! Clearly the night of shift-work you undertake prior to logging on here to share with us all your harboring hurt re Ron Fuller and life in general, does not involve an abundant amount of accountancy

[CENTURION]

At the AGM in a few weeks I'd say!
My guess would be a small loss may be on the cards to accommodate the clubroom refurbishment.
These things tend to get worked to reduce tax liablity and set up future financial goals.
I believe we are very solid though or there was no
way the Eagles could have afforded the refurbishment in this particular economic climate.
Taking on a CEO with very little footy background but a solid business CV tells you what is the most important aspect of a SANFL club in 2013.

Goodness me Holden! Clearly the night of shift-work you undertake prior to logging on here to share with us all your harboring hurt re Ron Fuller and life in general, does not involve an abundant amount of accountancy

or credibility.

[The Sleeping Giant]

Well there was a time when no one made a move without him!

Put a fair amount of his money into your club also.

[topsywaldron]

H78 has more credibility than Bunton. Not that that's saying much, Rocco Leo has more cred than the embitterred mouth from the south.

[Wedgie]

North's financials have hit the mailbox.
Summary:
Total Income $10,987,722 (up $125,000 on 2011)
Total Expenses $11,033,761 (up $80,000 on 2011)
Net Loss: $46,039 (net loss of $87,494 in 2011)

Earnings before interest,tax and amortisation; $754,097 (up $211,000 on 2011)

Debt Levels:
3.32 million (up 1.32 million on 2011 but that's because 1.88 million was spent on grandstand redevelopment)
Debt reduced by $534,305 (up on $487,545 in 2011)

In short a pretty good result considering they paid off way more debt than had to as the club generated considerable operating cash during the year, some of the bank debt is now well in advance of scheduled repayments and upgraded the oval to the tune of almost 2 million dollars.
Basically even though a 46k loss was reported the club is 500k better off.

[wedgetail]

At the AGM in a few weeks I'd say!
My guess would be a small loss may be on the cards to accommodate the clubroom refurbishment.
These things tend to get worked to reduce tax liablity and set up future financial goals.
I believe we are very solid though or there was no
way the Eagles could have afforded the refurbishment in this particular economic climate.
Taking on a CEO with very little footy background but a solid business CV tells you what is the most important aspect of a SANFL club in 2013.

Did Woodville not delay or cancel altogether the redevelopment plan that would have included a lap pool and so on and elect to just go with the retro installation of a lift under the current financial climate?

Stage 1 which was office redevelopment, lift, disabled toilets, opening up of function centre, kitchen overhaul, new entrance lobby and addition of viewing landing extending from function centre (I may have missed 1 or 2 other minor upgrades) all completed.
Pool and changerooms was always going to be stage 2 depending on the financial climate.
Eagles will shortly announce a small profit which is commendable considering the upgrade which has taken place.

[holden78]

At the AGM in a few weeks I'd say!
My guess would be a small loss may be on the cards to accommodate the clubroom refurbishment.
These things tend to get worked to reduce tax liablity and set up future financial goals.
I believe we are very solid though or there was no
way the Eagles could have afforded the refurbishment in this particular economic climate.
Taking on a CEO with very little footy background but a solid business CV tells you what is the most important aspect of a SANFL club in 2013.

Goodness me Holden! Clearly the night of shift-work you undertake prior to logging on here to share with us all your harboring hurt re Ron Fuller and life in general, does not involve an abundant amount of accountancy

or credibility.

Well Wedgetail says the Eagles will post a small profit..... so I wasn't that far out, you pair of toe lickers

[holden78]

North's financials have hit the mailbox.
Summary:
Total Income $10,987,722 (up $125,000 on 2011)
Total Expenses $11,033,761 (up $80,000 on 2011)
Net Loss: $46,039 (net loss of $87,494 in 2011)

Earnings before interest,tax and amortisation; $754,097 (up $211,000 on 2011)

Debt Levels:
3.32 million (up 1.32 million on 2011 but that's because 1.88 million was spent on grandstand redevelopment)
Debt reduced by $534,305 (up on $487,545 in 2011)

In short a pretty good result considering they paid off way more debt than had to as the club generated considerable operating cash during the year, some of the bank debt is now well in advance of scheduled repayments and upgraded the oval to the tune of almost 2 million dollars.
Basically even though a 46k loss was reported the club is 500k better off.

That's not bad with the oval upgraded too.

[westcoastpanther]

If people know nothing about Accounting, best they stay out of these types of threads.....

Upgrades, capital works etc do not affect profits.

[SDK]

It does when they have to pay for it !

[JK]

It does when they have to pay for it !

No, that affects Bank

[westcoastpanther]

It does when they have to pay for it !

Exit thread now mate.....

[doggies4eva]

If people know nothing about Accounting, best they stay out of these types of threads.....

Upgrades, capital works etc do not affect profits.

You beat me to it. Also repayment of debt does not affect profit.

Wedgies comment that the Chooks make a $40K+ loss but are $500K better off is comedy gold

[RustyCage]

I don't get it personally. Surely if a club spends money, it should count in the final + or - figure

[westcoastpanther]

Capital expenditure is transferred to the balance sheet and depreciated over the time of the asset. It is this depreciation figure that affects the P&L.

[RustyCage]

Capital expenditure is transferred to the balance sheet and depreciated over the time of the asset. It is this depreciation figure that affects the P&L.

Ah ok, that makes sense.

[dedja]

If people know nothing about Accounting, best they stay out of these types of threads.....

Upgrades, capital works etc do not affect profits.

You beat me to it. Also repayment of debt does not affect profit.

Wedgies comment that the Chooks make a $40K+ loss but are $500K better off is comedy gold

[SDK]

Exiting thread .... 3 ....2 ...... 1 ....... Gone !

[Wedgie]

I actually dumbed it down.
Technically I should have said that North made bazillions of dollars and my clubs better than yours, nyah nyah nyah nyah nyah!

[scoob]

WCP = Nerdy thread killer!