I am very pleased to report a remarkably successful year for the Club in financial terms. We have recorded a modest net profit and continued growth in our asset base.This has been achieved in a restricted season that saw the cancellation of many game days and several major social events.
Our financial position is attributable to the hard work of our volunteers. These include the sponsorship and raffle committee (Flash, Wayne, Grant and Sam); our bar staff (Bill and Jason); canteen, BBQ and meals by Ellen and her many helpers; and our merchandise and uniform team (Tanya, Kat and Maria).
The profit derived from these revenue streams offset the operational cost of our core activities – football and netball. Further non-operating funding was gained by the expert work of our Grants team (Karen and Kerryn), before we deduct depreciation on our fixed assets.
We are very grateful to Knox City Council for the waiving of the annual fees for ground occupancy for the second year in a row. We also thank the Council, the Victorian Government and Jackson Taylor MP for the availability of grant funding to offset the impact of COVID-19 on community clubs.
We still have a healthy bank balance despite a negative cash flow for the year. We have a full inventory of merchandise and uniforms on hand and ready for sale in the new season. We also have an excellent asset base including our ground facilities, IT equipment and gym equipment.
The Club is in a very sound financial position due to the generous support of our valued sponsors, including the Hawks Nest Coterie Group; our loyal players, members and supporters; and the hard-working volunteers. A huge personal thank you from me to Andrea Le Marquand and Lauren Keelan, our two terrific treasurers.
David Nicholas, Finance Director