Profit and Loss Season

[Rushby Hinds]

Is it very appropriate that one of the SANFL clubs releases their financial figures at their AGM? (according to something i read on the web last night)

I would have thought that a 2 week minimum for the bean counters to analyse/praise/criticise would be the bare minimum standard?


What do the various clubs do?

[Wedgie]

Ours is always sent out a certain required amount of time. Its the main reason our AGM has been moved as running a pub and other establishment it takes a bit longer than it used to.
Is is Sturt you're talking about as I know they've done it before and caused an uproar?
I think it would be completely unprofessional of a club not to present details to members before a AGM.

[cd]

Ours too has been moved to early February for the same reasons as NAFC and to ensure that all accounting is finalised and the AGM report is printed on time and gets to members with time to read, digest and get questions ready for the AGM.

Our Annual Report must be sent out a minimum of 4 days before the AGM.

[redandblack]

Westies AGM has also been moved to February, I think.

[Jimmy]

yes, heads should roll about this. we are in an uproar.

[Proud Dad]

Doggies Annual Report sent out last week, AGM is next week.

[Ronnie]

The Doggies have it right I think.
Who wants to wait until February to question events from up to 15 months previous to the meeting.
Equally though it's good to give people a week to persuse the reports and keep the bean counters happy.
Only problem with December AGMs is it is a tight deadline in regard to audited statements being signed off.

[cd]

Agree Ronnie - there are pros and cons - however we believe the move is appropriate as our end of financial year is 31 October - given it takes a few days/weeks to get everything in and completed then audited and into the printers with the other reports etc.

Under the previous arrangement we would be stressing at this time trying to get out by this friday at the latest for a meeting next Tuesday.

Thus much easier for our office folk, the auditors and the printers having the AGM in first week of February rather than 3rd week of December. Plus will be making some very very interesting announcements at the AGM and an update as to preseason and the outlook on 2008.

[Hondo]

Even companies listed on the Aust Stock Exchange get 2 months to finalise and publish their financial statements (ie, by end of August if the financial year ends on 30 June) and then they hold their AGM's Nov / Dec

So if a Club has a year end of 31 October then a February AGM is completely appropriate and doing it in December would cause a lot of headaches for all concerned

[Rushby Hinds]

I have no complaints at all with clubs delaying publishing the statements so they have plenty of time to get them correct.

But giving the members NO chance to look @ them before the AGM (if true) is truly appalling.

Jimmy, were you being serious when you said you weren't happy?

[bulldogproud]

Then again, if you are as efficient as the Central District Football Club you can get your audited statements out and still hold your AGM in December. Our financial statements were out a month ago. (Then again, we don't have to try to work out where we are going to hide salary cap breach money).
Cheers

[smac]

I thought it smelt more like "get them out early so we can all forget the 'negative profit' for 2007".

[Hondo]

But giving the members NO chance to look @ them before the AGM (if true) is truly appalling.

Agreed - members have to be able to see the financials before the meeting

BDP - do Centrals have a 30 June year end or a 31 Oct? If its 31 Oct then that definitely is great work to get them out so quickly

[bulldogproud]

October 31, Hondo - we just have good efficient accountants and auditors!

[Hondo]

October 31, Hondo - we just have good efficient accountants and auditors!

You sure have!

[Wedgie]

North used to but its harder with 2 establishments raking in millions of dollars rather than just the one.
BDP do they still try and use the DVD scam to cover it up or are they like North and make half the players well paid assistant coaches with the other half being well paid barmen?

[bulldogproud]

Wedgie, I think we have moved from DVD's to Ipod's

[Jimmy]

I have no complaints at all with clubs delaying publishing the statements so they have plenty of time to get them correct.

But giving the members NO chance to look @ them before the AGM (if true) is truly appalling.

Jimmy, were you being serious when you said you weren't happy?

oh yes, totally agree, appalling, truely appalling

yes.

[TroyGFC]

Last AGM numerous people, me included didn't get a report until getting to AGM, luckly I have internet access to know when AGM was plus my next door neighbour got their report 2 weeks earlier. (no they know my address as they still sent out raffle tix mid year!!)

[topsywaldron]

I thought it smelt more like "get them out early so we can all forget the 'negative profit' for 2007".

What was the actual result?