Having now completed the majority of the rugby playing, it’s an ideal time to take stock of our finances and provide an update to all members on the financial health of the club. This update reflects the year-to-date financial position from July 2018 to March 2019, plus a view of the final three months of the financial year to June.
It has been a hugely successful playing season across all the sections of the club. Minis have delivered a record breaking series of festivals, Youth have grown their membership at a time many clubs are struggling and our Seniors continue to boast three senior teams, a Vets team and a league winning Ladies team which all points to a thriving rugby community. However membership overall is down this year – currently tracking at £12k less than budgeted and comparing to the same period last year. Coming into a World Cup year this trend should turn, but we are currently reviewing all membership offerings and how we might better promote the club to new and existing members and we would welcome member feedback re how/where we can enhance our offering.
Our Director of Rugby, Skippy is working closely with new Head Coach Tom Williams (welcome back to GRFC!) on our plans and aspirations for next season, whilst ensuring the coaching and rugby across the club is delivered in a sustainable and cost efficient way.
Facilities, Management & Administration
The costs to run and maintain our facilities are tracking as per budget. We are always looking at ways to reduce the £200k+ running costs though and welcome any help or introductions that members could make to assist.
The investment in playing kit with the change of supplier to Raging Bull this season initially impacted the profitability of the shop, but we are seeing growth in sales and have a fully stocked range of playing and leisure kit which will help maximise our sales going forward. Please come and visit Roy, Clara and the team upstairs next to the bar.
Whilst we continue to build momentum through new potential sponsorship and advertising channels, the recent great success was the 11th City Lunch: a well-attended, entertaining afternoon with fantastic auction prizes that delivered over £20k net profit for the club and a much welcomed injection of cash. Donations are also significantly up and we thank our members for their support and generosity.
Along with any members who may be interested in financially supporting the club, age group or specific activity, we are also looking for additional volunteers to join the Commercial Committee led by our Commercial Director Roy O’Brien. This committee meets once a month and is a forum for new initiatives to increase revenues and commercial support/engagement in the club. Please get in touch if interested.
Catering and Events
We have made great progress across our catering and external events: refocusing our attentions on events that bring positive income to our club. The Operations team led by Jason McEachran and Emma White and supported by Sally Iddles have refreshed our offerings, restructured how they are delivered and increased the number of bookings – currently delivering a £17k profit increase compared to this time last year. In addition we have a full diary for the coming weeks!
This fundraising evening, to be held on Friday June 21st, will also be a celebratory coming together of all club sections. This is a vital fundraising event to repay debts and ensure financial stability for the year ahead. Once we clear the debts from our past investments (which currently include annual loan repayments of circa £55k a year) we will be in a self-sufficient financial standing. We ask all members, family and friends to join us and contribute what you can afford to our club – there will also be a suite of sponsorship options released soon as well as a range of auction items money normally just can’t buy. If you can help with either please contact Sally at [email protected]
Forecast for full finance year to June
with the revenues and costs to date, plus budgeted activity for the next three months, we currently forecast a consolidated income of a £20k deficit. However this is against our original budget and excludes unbudgeted growth in Events bookings in the final quarter and the new Masquerade Ball, the forecast revenues for which we expect minimise any deficit.
New Minis Treasurer Role
As part of our original vision and ongoing engagement, we as a Board have always stated a desire to have more people involved in the club; not only to be more inclusive and open, but also to build on the community spirit that underpins our club. In the Youth section we currently have a treasurer’s role which we are keen to now introduce in the Minis section.
The volunteer role description is available here:
This is open to all members of the club – you don’t have to be Mini parent, coach or admin. No financial qualifications needed (but if you are a trainee accountant looking for some on-the-job experience that also works!), so if you’re interested in helping with our club’s finances and being a bigger part of our community, please get in touch.
Please feel free to contact me with any queries.
Nick / [email protected]
March 2019 Balance Sheet and Cash Position:
|Fixed Assets (YTD)||£735,251|
|Current Assets (YTD)||£64,152|
|Current Liabilities (YTD)||£53,320|
|Long Term Loans (2019 & RFU)||£262,586|
|Fixed Assets (YTD)||£3,975|
|Current Assets (YTD)||£38,726|
|Current Liabilities (YTD)||£18,367|
March 2019 Profit & Loss YTD summaries: