The Pies make a Meagre Off Field Profit after a Successful Season Onfield

[Black_White]

Haha, what a crock of s**t.

And there, ladies and gentlemen, is the response of the brain dead follower.

 

[Bad Horse]

So boiled down, you’re saying the woofers have made more cash than us this year?

Give me a look at their annual report and theirs and I can tell you who had more net free cash flow if that's the measure you are interested in.

 

[Black_White]

Give me a look at their annual report and theirs and I can tell you who had more net free cash flow if that's the measure you are interested in.

Can only tell you they posted an 18 mill profit.
http://www.westernbulldogs.com.au/news/2018-11-28/bulldogs-post-fourth-straight-significant-profit
No bank debt.
Land assigned to them by the Government.
Sounds like they own their base. Unlike us.

 

[MagpieJoel]

And there, ladies and gentlemen, is the response of the brain dead follower.

You've come to conclusion, based on close to zero actual knowledge of the facts.

I may be a follower. But most people with even an ounce of critical thinking, wouldn't come to a conclusion before understanding the facts.

 

[Black_White]

You've come to conclusion, based on close to zero actual knowledge of the facts.

I may be a follower. But most people with even a ounce of critical thinking, wouldn't come to a conclusion before understanding the facts.

We made a “profit”.
On the back of some very rubbery, massaged, figures.
You’re happy to accept that.
As you happily accept everything the club says.
I’m happy to dig, ask, want, answers about how these figures are arrived at.
I’m not happy with the answers you accept blindly.
We are one or two bad seasons away from disaster.
Assets that are book value only mean squat if we have to convert them to cash.
You can say I don’t understand, but I understand exactly where we stand if it comes to a crunch.
And that crunch means little cash and no home.

 

[MagpieJoel]

We made a “profit”.
On the back of some very rubbery, massaged, figures.
You’re happy to accept that.
As you happily accept everything the club says.
I’m happy to dig, ask, want, answers about how these figures are arrived at.
I’m not happy with the answers you accept blindly.
We are one or two bad seasons away from disaster.
Assets that are book value only mean squat if we have to convert them to cash.
You can say I don’t understand, but I understand exactly where we stand if it comes to a crunch.
And that crunch means little cash and no home.

Keep trying to paint me how you want. Fact remains, you're jumping to conclusions without fact.

 

[Bad Horse]

Depending on what your hear, media saying Pies health profit
Operating revenue of 82 mill as well. Not bad.


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I think it was 77 or so last year so that would be a plus.

I will be very interested to see what happened to membership income. I got the feeling we were looking bad early, but may have recovered late with people locking in higher tier memberships for finals.

 

[Bad Horse]

Can only tell you they posted an 18 mill profit.
http://www.westernbulldogs.com.au/news/2018-11-28/bulldogs-post-fourth-straight-significant-profit
No bank debt.
Land assigned to them by the Government.
Sounds like they own their base. Unlike us.

So their numbers from this year on the cash side were

cash receipts $51.9 million
cash paid out ($49.5 million)

Net cash flow from operating $2,383,884

Our numbers from 2017 for comparison (I dont have the 2018, but they should be better to the tune of about 3 million)

cash receipts $86.3 million
cash paid out (83.8 million)

Net cash flow from operating $2,555,064

So we generated more cash in 2017, than the Bulldogs did in 2018, and would expect our 2018 result to be better than 2017. How much depends on how much of the 3 million improvement in operating profit was due to net operating cash flow, and how much from net investing cash flow.

Also of interest, the Bulldogs now have a higher net asset position than us by about 10 million due to the land grant valuation. Went from 27 to 45 basically overnight, we are about 32.

So you could factually say on one accounting measure, that the Bulldogs are a richer club than us.

No more handouts then woofers.

 

[regpies]

We aren’t shareholders and it’s not a bank.

The Holden Centre has had a recent upgrade so we have current and up to date equipment and facilities.

I’d rather us break even and keep membership prices as low as possible than be making 5mil and membership prices go up.

Even if we made 10mil it’s not like we can spend it. With the salary cap and football department cap profits are kind of useless.

 

[Obese Arachnid]

I'm not fiscally minded, all i want to know is does this mean a nice luke warm 4'n'20 is going to be cheaper or more expensive next year?

 

[Bad Horse]

I'm not fiscally minded, all i want to know is does this mean a nice luke warm 4n'20 is going to be cheaper or more expensive next year?

1) It will be more expensive

2) It will probably contain traces of my relatives

3) None of the above is impacted at all by the above discussion. Food at AFL venues is a separate revenue stream controlled by the ground managers, and the catering and pourage rights are making them a squillion, which the averagely crap catering firms like Spotless recoup by charging a shitload for crud to make it back and then some on the back of punters who have no choice. The MGC has a single caterer, so you are a captive.

Just on Spotless...who obtained exclusive catering rights to the MCG, and had significant interests in Marvel Stadium...

Former Managing Director, Ron Evans, was also an AFL commissioner.

Former Chair of Spotless, Brian Blythe, happens to be the father in law of Gillon McLachlan.

No conflict, no interest it seems.

 

[Nuwanda]

This thread is mindnumbing and continues to be so each year.

Not understanding depreciation and asset revals as entries means you will never understand the true underlying numbers.

I find it’s just not worth explaining because they will fail to comprehend it and so you just need to let some people vent themselves senseless for 5 mins.

 

[Maggie5]

So their numbers from this year on the cash side were

cash receipts $51.9 million
cash paid out ($49.5 million)

Net cash flow from operating $2,383,884

Our numbers from 2017 for comparison (I dont have the 2018, but they should be better to the tune of about 3 million)

cash receipts $86.3 million
cash paid out (83.8 million)

Net cash flow from operating $2,555,064

So we generated more cash in 2017, than the Bulldogs did in 2018, and would expect our 2018 result to be better than 2017. How much depends on how much of the 3 million improvement in operating profit was due to net operating cash flow, and how much from net investing cash flow.

Also of interest, the Bulldogs now have a higher net asset position than us by about 10 million due to the land grant valuation. Went from 27 to 45 basically overnight, we are about 32.

So you could factually say on one accounting measure, that the Bulldogs are a richer club than us.

No more handouts then woofers.

We are still in good shape given the expense on AFLW and Netball which the woofers don't have.

 

[ZEV]

We made a “profit”.
On the back of some very rubbery, massaged, figures.
You’re happy to accept that.
As you happily accept everything the club says.
I’m happy to dig, ask, want, answers about how these figures are arrived at.
I’m not happy with the answers you accept blindly.
We are one or two bad seasons away from disaster.
Assets that are book value only mean squat if we have to convert them to cash.
You can say I don’t understand, but I understand exactly where we stand if it comes to a crunch.
And that crunch means little cash and no home.

When the 18 Annual report comes out check out the Consolidated Statement of Financial Position. Under assets listed you should find "cash and cash equivalents" first. If thats anything significantly less than $10 million I would be surprised.

 

[TKiL]

It’s in our interest to declare a small profit, accounting is a dark art

I know that only too well .. . currently working with some accountants - they certainly practise on the dark side of effective communication.....

 

[sideswipe]

Ah, so we can take the plumbing, electrical equipment, interior walls, taps, ice baths, spas, etc, etc with us if/when we leave?
What a crock of shite......
7 mill of plaster?
It’s such a pity that CFC members/supporters can be fooled by such things.
These “assets “ cannot be taken with us if we moved. They are, as you say, fixture. Note the part “Fix”. Cannot be moved.
Taken away, we appear to have made a loss. In an almost Premiership year.
Some may be happy with that. In fact lots of BF posters are happy with that.
Lots of idiots are fooled easily.

Maybe wait until you read the annual report in full before continuing your rants. So far, all your posts are confirming is your lack of understanding of finance and accounting, especially the concepts of depreciation and amortisation, not to mention the definition of an asset.

But just to give you some help, an asset can be loosely described as something from which benefit is gained. If that benefit is derived over a number of years, rather than applying the acquisition cost in year one, the cost may be spread over many years.

An item need not be “detachable” or “saleable” for it to be an asset. Taken to the extreme think of an infrastructure company that constructs a big toll road, doesn’t own the road, can’t take it elsewhere but amortises the cost of the build over the many years that it gains benefit from operating the toll road.

We would be similarly doing that with the cost of many items that we have bought/built from which the club still uses.

Hope this helps. Your use of the term idiot after paragraphs which clearly demonstrate your ignorance of basic financial concepts makes me wonder what else you might have been doing whilst following Collingwood for 50+ years.




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[Anzacday]

And honestly, this is probably why it wasn’t brought up at the AGM.

It's not discussed at the Member Forum and IS discussed at the AGM in February.

 

[Tarkyn_24]

Ah, so we can take the plumbing, electrical equipment, interior walls, taps, ice baths, spas, etc, etc with us if/when we leave?
What a crock of shite......
7 mill of plaster?
It’s such a pity that CFC members/supporters can be fooled by such things.
These “assets “ cannot be taken with us if we moved. They are, as you say, fixture. Note the part “Fix”. Cannot be moved.
Taken away, we appear to have made a loss. In an almost Premiership year.
Some may be happy with that. In fact lots of BF posters are happy with that.
Lots of idiots are fooled easily.

Bad Horse has it right from an accounting and tax perspective.

If you don’t believe those numbers to be an accurate representation of the real economic position of the club, then your issue is with how the accounting standards and ITAA function. Every club would be applying these when preparing financials and tax returns.

 

[CFC2010]

So basically Black_White is saying CFC is a "charity" and therefore I can claim my yearly membership as a tax deduction...…...sweet.

P.S As for you Bad Horse anyone who wears Calvin's cannot be classified as a current liability...….I take exception on behalf of the Gimp.

 

[Bad Horse]

So basically Black_White is saying CFC is a "charity" and therefore I can claim my yearly membership as a tax deduction...…...sweet.

P.S As for you Bad Horse anyone who wears Calvin's cannot be classified as a current liability...….I take exception on behalf of the Gimp.

Perhaps BringouttheGimp should be classed an intangible asset then.

"Cant touch this"

 

[MagpieJoel]

It's not discussed at the Member Forum and IS discussed at the AGM in February.

Shhh, facts don't suit his agenda.

 

[CFC2010]

Shhh, facts don't suit his agenda.

Did you know it was Jordan De Goey's fault we lost the GF this year?

 

[Apex36]

It's not discussed at the Member Forum and IS discussed at the AGM in February.

Yeah, yeah, you know what I meant...

 

[ClaytonM]

Wowser!
Can you please explain 35 million Of gym equipment etc?
Love to know how that breakdown looks.
Might have a word with my ATO mate and see if any sporting club can justify 35 mill of goods in a building thy don’t own.
Not expecting a positive answer.

The club is damned if it does, damned if I doesn’t.

Makes small profit and that is not good enough. Makes large profit and complaints are made that more should have been spent on football department.

Club has excellent facilities, a strong list and played off in the GF, is operating a range of teams that cater to both sexes and expands the supporter base, and is still in an overall strong financial position. Yet you still want to complain. Look at the big picture.

 

[76woodenspooners]

Woofers beat us.
http://www.westernbulldogs.com.au/news/2018-11-28/bulldogs-post-fourth-straight-significant-profit
Why is this profit/loss report made public AFTER the member meeting?
Some might say it’s engineered to bypass any hard questions.
But I know Ed isn’t into such shenanigans. Is he?

Not at all.

There are two member’s meetings.

There’s is the member’s forum which addresses the subject of on-field performance through presentations by the football department, followed by a Q&A by the members. This can be attended by any CFC member. This event typically happens in the weeks following the end of season.

And there’s the Annual General Meeting which is attended by voting members (Legends, Club 5, Social Club) which typically happens around February of the following year. This is the forum where the matters of the running of the wider club are discussed including financials, voting of board members, strategic direction of the wider club (eg: getting out of pokies) etc, etc is typically discussed.