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Posted May 29, 2020 03:58 · last edited May 29, 2020 03:59

Nelfoos wrote:

NW's (and the financial results for any incorporated society) are public. For the year ended 30/9/19 you can find NW's Performance Report here:

https://app.businessregisters.govt.nz/sber-businesses/viewInstance/view.html?id=229a78e05307b6d8bf1b29667f00cb17e5e0d5bca25184d2#scrollTop

For my 2 cents - looks a lot healthier than most clubs financials that I've reviewed. Decent level of reserves despite a resonably significant operating loss.

Looks as though they're planning to sell clubrooms and build something new at Alex Moore at some point as well (but the softball club aren't on board & legal action is occurring), and appears they're paying their director of football a salary of ~$100k (plus another $15k from the Junior clubs accounts), being the only unusual points I can see from a quick review. $30k loan as well, but doesn't say who from.

Not a lot of cash reserves was what stood out to me.

Yeah missed the significance of that at first glance.

Appears to be the main motivation for the loan - $20k overdraft if they didn't have it.. They aren't gonna be able to pay immediate debts as they need to so you'd suggest the settlement of the legal dispute and the sale of the clubrooms are very high priority for them - and then cross your fingers that the legal fees don't blow out.

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Unknown editor edited May 29, 2020 03:59
andrewvoerman wrote:
Nelfoos wrote:

NW's (and the financial results for any incorporated society) are public. For the year ended 30/9/19 you can find NW's Performance Report here:

https://app.businessregisters.govt.nz/sber-businesses/viewInstance/view.html?id=229a78e05307b6d8bf1b29667f00cb17e5e0d5bca25184d2#scrollTop

For my 2 cents - looks a lot healthier than most clubs financials that I've reviewed. Decent level of reserves despite a resonably significant operating loss.

Looks as though they're planning to sell clubrooms and build something new at Alex Moore at some point as well (but the softball club aren't on board & legal action is occurring), and appears they're paying their director of football a salary of ~$100k (plus another $15k from the Junior clubs accounts), being the only unusual points I can see from a quick review. $30k loan as well, but doesn't say who from.

Not a lot of cash reserves was what stood out to me.

Yeah missed the significance of that at first glance.

Appears to be the main motivation for the loan - $20k overdraft if they didn't have it.. They aren't gonna be able to pay immediate debts as they need to so you'd suggest the settlement of the legal dispute and the sale of the clubrooms are very high priority for them.

Unknown editor edited May 29, 2020 03:59
andrewvoerman wrote:
Nelfoos wrote:

NW's (and the financial results for any incorporated society) are public. For the year ended 30/9/19 you can find NW's Performance Report here:

https://app.businessregisters.govt.nz/sber-businesses/viewInstance/view.html?id=229a78e05307b6d8bf1b29667f00cb17e5e0d5bca25184d2#scrollTop

For my 2 cents - looks a lot healthier than most clubs financials that I've reviewed. Decent level of reserves despite a resonably significant operating loss.

Looks as though they're planning to sell clubrooms and build something new at Alex Moore at some point as well (but the softball club aren't on board & legal action is occurring), and appears they're paying their director of football a salary of ~$100k (plus another $15k from the Junior clubs accounts), being the only unusual points I can see from a quick review. $30k loan as well, but doesn't say who from.

Not a lot of cash reserves was what stood out to me.

Yeah missed the significance of that at first glace.

Appears to be the main motivation for the loan - $20k overdraft if they didn't have it.. They aren't gonna be able to pay immediate debts as they need to so you'd suggest the settlement of the legal dispute and the sale of the clubrooms are very high priority for them.