Verbs will know. I think he audits the figures on the clubs behalf
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| Worrying Rumour??? http://www.talkingcarlton.com/phpBB3/viewtopic.php?f=2&t=14118 |
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| Author: | Headcutter [ Mon Jan 08, 2007 12:14 pm ] |
| Post subject: | Worrying Rumour??? |
I am not someone who spreads rumours but I heard a worrying rumour a few days ago and wanted to know if it had any validity. The source was not fantastic so dont take it as gospel. Apparently CFC made another massive loss this season well over a one million dollars and perhaps closer to a figure of 3 million dollars!! I wanted to know if this is true and if so does it include any exceptional circumstances such as a one off write write down of assets etc.. Most importantly when does the club release its financial annual report - hopefully this should be several weeks before the election. It would be ethically wrong to have an election without the members being presented all the facts. (this election should be in march not feb) I am worried!!!! P.S. If this is true our future in the competetion must surely be under review? we have a only a couple years of grace left before the hard questions start to be asked by other teams ..................rellocation may becon......i hope not |
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| Author: | budzy [ Mon Jan 08, 2007 12:41 pm ] |
| Post subject: | Re: Worrying Rumour |
Headcutter wrote: when does the club release its financial annual report
graham_s told us "AT the AGM", which sadly IMO doesn't give voting members enough time to study the report thoroughly |
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| Author: | woof [ Mon Jan 08, 2007 12:59 pm ] |
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Verbs will know. I think he audits the figures on the clubs behalf
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| Author: | verbs [ Mon Jan 08, 2007 1:37 pm ] |
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Don't joke about that! I've got the same info as everyone else, except perhaps one or two. The accounts should be available to members by now (1 month til the AGM) but haven't been finalised yet as far as I can tell -- finalised as in the Annual Report being compiled and printed. I hope we don't post a loss, and it will be important to see what impact has been had on our cashflow since the 2005 financials. |
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| Author: | woof [ Mon Jan 08, 2007 1:49 pm ] |
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verbs wrote: Don't joke about that!
I've got the same info as everyone else, except perhaps one or two. The accounts should be available to members by now (1 month til the AGM) but haven't been finalised yet as far as I can tell -- finalised as in the Annual Report being compiled and printed. I hope we don't post a loss, and it will be important to see what impact has been had on our cashflow since the 2005 financials. I'll give you a heads up. If a clubs president begs on national TV for money and then weeks later when nobody gives him money he goes to the AFL and gets 2 million dollars ..... do you really need to wait for the numbers in terms of cashflow? 5000 flowering pizza makers dropped off. They had no dough. |
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| Author: | ryan2000 [ Mon Jan 08, 2007 1:51 pm ] |
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I'm expecting us to post a lost and it wouldn't suprise me in the slightest if it were around the $3million mark sadly. -5000 member down on 2005 -Another wooden spoon -asking for a $1.5million loan from the AFL -Crowds down on 2005 & according to GS, we have the lowest amount of merchandise sales of all the VIC clubs! Can't really see how any of the above would lead to anything BUT a loss, & a big one at that. Sad really................... I'm running my own business now and will struggle financialy for the first couple of years whilst i build it from scratch..............................but i'll still pay the extra for the 'Social Club' upgrade JUST to support the club! I might even scrounge some money together and buy the new White CFC jumper! |
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| Author: | verbs [ Mon Jan 08, 2007 1:56 pm ] |
| Post subject: | |
But you need the figures to determine the composition of the loss. We made a small profit last year. Smorgon said that overheads have been kept under control. If there has been a drop in turnover back to 2004 levels a loss would be unavoidable. It doesn't matter who's president. We need to increase turnover and find new income streams. Do we have any pokies? |
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| Author: | spuddie [ Mon Jan 08, 2007 2:04 pm ] |
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verbs wrote: But you need the figures to determine the composition of the loss.
We made a small profit last year. Smorgon said that overheads have been kept under control. If there has been a drop in turnover back to 2004 levels a loss would be unavoidable. It doesn't matter who's president. We need to increase turnover and find new income streams. Do we have any pokies? didnt someone say the club (or at least the social club) owns "Club Laverton"? if this is the case, surely this should be promoted to Carlton supporters in that part of the world |
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| Author: | woof [ Mon Jan 08, 2007 2:08 pm ] |
| Post subject: | |
verbs wrote: But you need the figures to determine the composition of the loss.
We made a small profit last year. Smorgon said that overheads have been kept under control. If there has been a drop in turnover back to 2004 levels a loss would be unavoidable. It doesn't matter who's president. We need to increase turnover and find new income streams. Do we have any pokies? There is only one question you need to ask Graeme S at the AGM: Dear Graeme S, If we did not receive the 2 million dollars from the AFL for the last financial year could the CFC meet all their financial obligations? P&L's can be manipulated. People who are waiting for the numbers for any signs of life/improvement have got rocks in their heads. |
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| Author: | Jarusa [ Mon Jan 08, 2007 2:08 pm ] |
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spuddie wrote: verbs wrote: But you need the figures to determine the composition of the loss. We made a small profit last year. Smorgon said that overheads have been kept under control. If there has been a drop in turnover back to 2004 levels a loss would be unavoidable. It doesn't matter who's president. We need to increase turnover and find new income streams. Do we have any pokies? didnt someone say the club (or at least the social club) owns "Club Laverton"? if this is the case, surely this should be promoted to Carlton supporters in that part of the world The club has a half-share in Club Laverton. If anyone has the opportunity to use their facilities, please do. http://www.clublaverton.com.au/index.php |
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| Author: | Blue Vain [ Mon Jan 08, 2007 2:29 pm ] |
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woof wrote: There is only one question you need to ask Graeme S at the AGM:
Dear Graeme S, If we did not receive the 2 million dollars from the AFL for the last financial year could the CFC meet all their financial obligations? P&L's can be manipulated. People who are waiting for the numbers for any signs of life/improvement have got rocks in their heads. I asked that in our Smorgon online questionnaire. He chose not to answer that one. 
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| Author: | mjonc [ Mon Jan 08, 2007 2:38 pm ] |
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Pretty sure Malouf stated we should expect a $2mil loss this season. I'll post the link if/when i find it. |
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| Author: | Blue Vain [ Mon Jan 08, 2007 3:21 pm ] |
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That rumour is standard procedure Headcutter. When our loss comes in at a million dollars or a bit more, we're all supposed to sit back and say "well, I was expecting worse"
Thats the advantage of having low expectations, you're rarely disappointed. |
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| Author: | verbs [ Mon Jan 08, 2007 3:35 pm ] |
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I'm keen to see these figures. If overheads have remained constant at $19mil, a $1mil loss could be largely attributed to a 5000 decrease in membership at say $200 a head. When Collins said "while our cash flow improved in 2005 – our position is still precarious", he wasn't lying. We only broke even last year. |
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| Author: | winfieldblue [ Mon Jan 08, 2007 4:12 pm ] |
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Jarusa wrote: spuddie wrote: verbs wrote: But you need the figures to determine the composition of the loss. We made a small profit last year. Smorgon said that overheads have been kept under control. If there has been a drop in turnover back to 2004 levels a loss would be unavoidable. It doesn't matter who's president. We need to increase turnover and find new income streams. Do we have any pokies? didnt someone say the club (or at least the social club) owns "Club Laverton"? if this is the case, surely this should be promoted to Carlton supporters in that part of the world The club has a half-share in Club Laverton. If anyone has the opportunity to use their facilities, please do. http://www.clublaverton.com.au/index.php Hi Jarusa Who was the driver behind this purchase.? When did Carlton purchase the 50% share? Is Carlton paid in a form of dividends? Do they make a mean Latte? 
Thanks if any questions are answered. |
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| Author: | jezzarules [ Mon Jan 08, 2007 4:30 pm ] |
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winfieldblue wrote: Jarusa wrote: spuddie wrote: verbs wrote: But you need the figures to determine the composition of the loss. We made a small profit last year. Smorgon said that overheads have been kept under control. If there has been a drop in turnover back to 2004 levels a loss would be unavoidable. It doesn't matter who's president. We need to increase turnover and find new income streams. Do we have any pokies? didnt someone say the club (or at least the social club) owns "Club Laverton"? if this is the case, surely this should be promoted to Carlton supporters in that part of the world The club has a half-share in Club Laverton. If anyone has the opportunity to use their facilities, please do. http://www.clublaverton.com.au/index.php Hi Jarusa Who was the driver behind this purchase.? When did Carlton purchase the 50% share? Is Carlton paid in a form of dividends? Do they make a mean Latte? Thanks if any questions are answered. afaio He normally owns the premises and has a revenue/profit sharing arrangement with the clubs. |
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| Author: | winfieldblue [ Mon Jan 08, 2007 4:46 pm ] |
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Cheers. I hazard to guess the purchase will not be a new item in this years annual report. |
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| Author: | verbs [ Mon Jan 08, 2007 6:14 pm ] |
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I wonder how long the NAB will support us for? We definitely need someone to clear our debt. The only trouble is, can we be trusted not to max out our facility again? We need $4mil (+ our 2006 loss) to get our net assets on an even level, and we need to maintain turnover of at least $20mil as a minimum to ensure an operating profit each year. Let's hope we hear someone telling us how they are going to do this. |
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| Author: | woof [ Mon Jan 08, 2007 8:19 pm ] |
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verbs wrote: I wonder how long the NAB will support us for?
We definitely need someone to clear our debt. The only trouble is, can we be trusted not to max out our facility again? We need $4mil (+ our 2006 loss) to get our net assets on an even level, and we need to maintain turnover of at least $20mil as a minimum to ensure an operating profit each year. Let's hope we hear someone telling us how they are going to do this. Verbs, The AFL will give us more money this year due to the new TV rights kicking in and the fact that we are a poor club like the kangas, dees and dogs so we get extra to help us survive. This combined with our goal to be in the lowest quartile for expenditure in 2007 should see us through. Your next question for Graeme S should be: In the 2007 cash forecast what have you forecast with respect to the largest increase in cash inflows? a/ increased sponsorship revenue b/ white knight c/ increase distribution from the AFL d/ increase in membership/merchandise turnover. When I was at school I was told in multiple choice questions when in doubt pick C
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| Author: | verbs [ Mon Jan 08, 2007 8:27 pm ] |
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No doubt we will survive, but just surviving is no way to live. Give us a plan! The more I look over the figures, the more depressed I get. |
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