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Michael Ashton

AGM

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Family commitments are preventing me from attending the AGM which i am sure will be good news for some  :tongue:.   After fully digesting the 2013 accounts there was no surprise to see the reasons for the announced financial crisis last year and following which the announced cash flow problems. As there is more than debenture holders who read and post on this forum it is not my place to give out details of the accounts but I think someone with a backbone needs to ask the following questions at the up coming AGM :

 

Why was the players salary budget massively increased with less projected income into the club

There remains a large debt and claim which could be called on at any time, is there a plan of how this will be dealt with if and when it appears

Loans,mortgage increases during 2013 were obviously required due to the first question above which (taking out the scheduled debt repayments) have increased the long term debt to the club.

Who has been carrying out the financial handling/budget planning/salary cap returns of the clubs affairs since the surprised departure of Keith Holt

 

I for one hope that the club Directors have very carefully looked at reducing the expenditure for 2014 to that now affordable to ensure the long term survival of this long established and well loved club.

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Family commitments are preventing me from attending the AGM which i am sure will be good news for some  :tongue:.   After fully digesting the 2013 accounts there was no surprise to see the reasons for the announced financial crisis last year and following which the announced cash flow problems. As there is more than debenture holders who read and post on this forum it is not my place to give out details of the accounts but I think someone with a backbone needs to ask the following questions at the up coming AGM :

 

Why was the players salary budget massively increased with less projected income into the club

There remains a large debt and claim which could be called on at any time, is there a plan of how this will be dealt with if and when it appears

Loans,mortgage increases during 2013 were obviously required due to the first question above which (taking out the scheduled debt repayments) have increased the long term debt to the club.

Who has been carrying out the financial handling/budget planning/salary cap returns of the clubs affairs since the surprised departure of Keith Holt

 

I for one hope that the club Directors have very carefully looked at reducing the expenditure for 2014 to that now affordable to ensure the long term survival of this long established and well loved club.

 

But I think I'll just go ahead and do it anyway.

 

While not quoting specific figures you still manage to stir the pot! 

 

If you want these questions answered why didn't you just ask a friend (if you have one who is a debenture holder) to bring them up at the meeting?

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But I think I'll just go ahead and do it anyway.

 

While not quoting specific figures you still manage to stir the pot! 

 

If you want these questions answered why didn't you just ask a friend (if you have one who is a debenture holder) to bring them up at the meeting?

 

No details given

 

I think you mean bury your head in the sand rather than stir the pot

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But I think I'll just go ahead and do it anyway.

While not quoting specific figures you still manage to stir the pot!

If you want these questions answered why didn't you just ask a friend (if you have one who is a debenture holder) to bring them up at the meeting?

Maybe the figures ain't quite what Neil expected so he's done a about turn and isn't attending the agm, maybe he has also passed the bullets to somebody else and asked them to pull the trigger. We will never know as he's not able to attend the meeting.

I've not seen the accounts yet but I'm sure when people see them at the agm they "won't" bury their heads.

I've never known anybody who supposedly have so much love for a club want a bod to fail so much.

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Maybe the figures ain't quite what Neil expected so he's done a about turn and isn't attending the agm, maybe he has also passed the bullets to somebody else and asked them to pull the trigger. We will never know as he's not able to attend the meeting.

I've not seen the accounts yet but I'm sure when people see them at the agm they "won't" bury their heads.

I've never known anybody who supposedly have so much love for a club want a bod to fail so much.

 

You couldn't be any further from the truth FBB

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You certainly make it look that way.

 

I put a lot of time and effort into making sure the club survived and had a future during 2011 and the club has the potential to do really well if its run properly. The systems i built and put in place for Karen was to ease the pressure and make daily running simpler and easier.  The business plan designed was fluid and gave budgets which could be expanded but to do that additional funding needed to be brought in. My gripe with other Directors came about from what wasn't happening rather than what did .

 

As I have said many times before the club has the potential to be great once again but you can only spend what you have within the budgets set.

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Why did the chairman state the clubs debt will be cleared by Christmas yet you state the club is in huge debt and in the midst of a financial crisis.

Who is right you or the chairman?

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The club will always have debt  i.e. the mortgage and the debentures. I think what the chairman was talking about is the loans the club have.

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not sure I want to get involved in this, however why would we always have a mortgage? One thing I will say is that if we keep topping the mortgage up by borrowing the repayments back to cover shortages; as has happened, then we will never pay it off!

 

This is not a dig at the BoD just a simple statement that if you get into a position where you are borrowing to cover existing debts or overheads then you need to start tightening the belt. how they do that would be down to the board.

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not sure I want to get involved in this, however why would we always have a mortgage? One thing I will say is that if we keep topping the mortgage up by borrowing the repayments back to cover shortages; as has happened, then we will never pay it off!

 

This is not a dig at the BoD just a simple statement that if you get into a position where you are borrowing to cover existing debts or overheads then you need to start tightening the belt. how they do that would be down to the board.

 

So the worry is the BOD have basically just turned the short term debt into long term debt by putting it on the mortgage which basically would say they don't have a financial plan to sort the debt out.

 

The on the field decisions make me think we have tightened the belt though. The offloading of Haggerty to Leigh in return for fringe players, the purchase of a squad made of locals and the cheapest out of towners possible, the appointment of Anthony Murray who was probably the cheapest option. The fact Bobbie Goulding wants to stay for 3 years makes me think that the debt will of been cleared rather than moved. Why would he sign up when for the next few years we are going to be on a shoe string budget? It just doesn't make sense, I don't think he would join us unless he felt we had enough to build something with.

 

It will be interesting to find out what happens, I'm not a debenture holder so unfortunately can't attend. If anyone could post details on what happens it would be much appreciated.

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Could anyone post a brief outline of what was said?

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I don't know how much were allowed to say but do not ever listen to D11 and his utter rubbish anymore. He has made a total fool of him self no wonder he didn't go tonight....

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I don't know how much were allowed to say but do not ever listen to D11 and his utter rubbish anymore. He has made a total fool of him self no wonder he didn't go tonight....

I appreciate that. The only reason I have doubts about the club is because of the amount of posts D11 has done for the last 6 months about the financial status of it.

Did the agm prove him completely wrong? Is the future bright?

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I appreciate that. The only reason I have doubts about the club is because of the amount of posts D11 has done for the last 6 months about the financial status of it.

Did the agm prove him completely wrong? Is the future bright?

It did mate yes. I came out of there smiling.

I'll be honest his posts over the last few days have concerned me. But the meeting blew all that away......

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I must agree with you Jamie. I thought Joe Reay gave an excellent report on the accounts on behalf of Millers and I was most impressed with David Sharpe's long report. I feel our Club is in safe hands. The meeting finished with 'Any Other Business' which tended to drift into a bit of a free for all but at least it gave everybody chance to pass comments and ask questions.

 

It was not possible to give details of BG new contract but it was hoped that this would be finalised in the next few days.

 

An Extraordinary General Meeting will be held in the near future in order to pass an Extraordinary Resolution to adopt a new set of Articles of Association. A 75% majority in favour will be necessary for  the changes to be made. It was reported that any debenture holder interested can collect a copy of the amended Articles from the Rugby Shop in a few days.

 

Finally congratulations (or is it sympathy) to Paul Ballantyne on joining the Board.

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It did mate yes. I came out of there smiling.

I'll be honest his posts over the last few days have concerned me. But the meeting blew all that away......

Excellent stuff.

Congratulations Paul aswell on joining the BOD.

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Made up for Paul . He does so much for the club as it is ! . A great addition to the Board IMO

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Congratulations Paul..im glad that people came out of the AGM happy..

 

I have not had the opportunity to review the accounts as I'm still overseas (7 weeks now!), however I hope they have been more honest than the last AGM we all walked away from happy. Before anyone has a go at me I really mean that!

 

I look at the history and think who predicted the downfall of the Des era..and the reality is...Neil Martin. Don't be too quick to shoot the messenger.

 

on that; no matter what FB and Rooster say I have no more comments to make other than I will see you all next season.

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I too am away working and couldn't make it .... soooo are we almost debit free ??

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Let me start by saying i am happy for everyone who has come away positive about the future of the club as this is your club. 

 

I may get criticized for reading between the lines and asking the questions that others think but don't ask but as I have said many times before my concerns has always been for the long term survival of the club.

 

Commitments have kept me away from attending games this year other than a couple of the early friendlies  and doubt over attending next years games brings me to the conclusion to step back and no longer concern myself with the club.

 

On a final note I will sum up 2013 

 

Previous AGM  all came away feeling very positive for the future of the club

Followed by an announcement in the evening mail of a financial crisis at the club

A financial crisis meeting was held and all came away feeling positive for the future

Next was an announcement of a cash flow crisis

 

The clubs position was at all times predictable 

 

So how did the club get out of the 2013 mess ?  the accounts show that short term loans and a re mortgage of the ground got the club through followed by a disastrous season seeing the club relegated.

 

This is not a negative post but reality which no one appears to want to listen too.

 

Good luck to the club for the future and despite the digs from a few on here I have enjoyed the banter and hope everyone the best for the 2015 season.

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not being funny Neil but we need your support and banter more than ever !!

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