Toast Crows 2015 Profit: $1.5 million

[WaynesWorld19]

... Any chance they might teach you english in Melbourne?

Have to remember i'm Adelaide born ......so education was in Adelaide

 

[Pdub]

Qld or do you mean central brisvagas.
No free rides in cairns.

Well in South East QLD there is. If there is a game at the gabba, you can catch a train from 100kms away on the GC for free, then get a free connecting bus. Sames goes for trips from brisbane to metricon.

 

[Sanders]

I think the club should have an "opt-in" for transport, if you want to pay an extra $20 on top of your membership you get a membership card that says you can travel for free. Same applies to buying a match ticket, you can pay an extra $2 on top of your ticket to get a ticket that includes public transport.

The current system means members are paying for the opposition to get to the game.

No way that can work

If you have people opting out it becomes too expensive to put on

 

[mistylake]

Well in South East QLD there is. If there is a game at the gabba, you can catch a train from 100kms away on the GC for free, then get a free connecting bus. Sames goes for trips from brisbane to metricon.

Yep I've done both of those.
Now can they supply a free plane flight down.
Qantas preferred but Tiger will do..
I have heard that pensioners either used to, or possibly still can, ride anywhere on a train for $10. including Cairns to Brisbane.

 

[beartoo]

The bus trip from Seaford to West Lakes was torture--especially the hour and a half home after a loss. The free train is a huge blessing and I have rarely seen anyone on the train not going to the footy.

 

[Kerleys Ghost]

I've read that the $1.5m operating profit doesn't include depreciation costs, but other clubs do include it.

Is this accurate? Have the details been released yet?

I'm really hoping the days of this sort of bullshit spin are over.

 

[Bicks]

Yep I've done both of those.
Now can they supply a free plane flight down.
Qantas preferred but Tiger will do..
I have heard that pensioners either used to, or possibly still can, ride anywhere on a train for $10. including Cairns to Brisbane.

This Tiger Airways?

http://www.abc.net.au/news/2016-03-...t-makes-priority-landing-in-melbourne/7210000

 

[hey shorty]

I've read that the $1.5m operating profit doesn't include depreciation costs, but other clubs do include it.

Is this accurate? Have the details been released yet?

I'm really hoping the days of this sort of bullshit spin are over.

Some do some don't. I think after depreciation it worked out at just under $1mil.

Whats more criminal is the $800k we pay as equalisation and the $400k more a year we pay to the SANFL.

 

[Kerleys Ghost]

Some do some don't. I think after depreciation it worked out at just under $1mil.

Whats more criminal is the $800k we pay as equalisation and the $400k more a year we pay to the SANFL.

I know about the other costs, I just don't like the idea of being given the impression that our profit was greater than it actually was.

Either way, it's a fine turnaround from last year, but i would like complete transparency.

 

[1970crow]

Some do some don't. I think after depreciation it worked out at just under $1mil.

Whats more criminal is the $800k we pay as equalisation and the $400k more a year we pay to the SANFL.

I think $400k to keep our group together in the sanfl is cheap as s**t. $800k equalisation is harsh though.

 

[hey shorty]

I think $400k to keep our group together in the sanfl is cheap as s**t. $800k equalisation is harsh though.

Well its 1.1 mil to the SANFL, 400k more than our neighbours. I'd like to know where the money is going

 

[1970crow]

Well its 1.1 mil to the SANFL, 400k more than our neighbours. I'd like to know where the money is going

$700k is purchasing our license. I'm enjoying our CEO's independence from the SANFL, so a necessary purchase. SANFL are debt ridden, the $1.1m is probably covering interest payments.

 

[Deaneus!]

SANFL are debt ridden, the $1.1m is probably covering interest payments.

How in the name of all that is holy do they still have debts?!?!?!

 

[1970crow]

How in the name of all that is holy do they still have debts?!?!?!

i thought they still had a bit yet of footy park to sell and that the original sale wasn't entirely upfront. Perhaps my info is out of date.

 

[mistylake]

How in the name of all that is holy do they still have debts?!?!?!

Trickle feed of sale of Footy Park for like 15 years from the developer. Would of been better to just sell it get the cash payout the debt. As it is they will lose half to interest over the duration.

 

[DD#23]

I know about the other costs, I just don't like the idea of being given the impression that our profit was greater than it actually was.

Either way, it's a fine turnaround from last year, but i would like complete transparency.

if I recall correctly we wrote a few years in advance worth of depreciation costs into last years books, but I might just be remembering an unfounded comment from on the board here.

 

[CrowsB4hoes]

All clubs bar one report before depreciation.

Depreciation is a non-cash, easily manipulatable accounting entry that can be used to create whatever profit you want within reason.

 

[beartoo]

Well its 1.1 mil to the SANFL, 400k more than our neighbours. I'd like to know where the money is going

The 400k that goes to the SANFL is distributed to the clubs. One of the beefs is that some of this money is used to attract high-profile recruits rather than being used to develop grassroots footy.

 

[hey shorty]

The 400k that goes to the SANFL is distributed to the clubs. One of the beefs is that some of this money is used to attract high-profile recruits rather than being used to develop grassroots footy.

Thats the issue for me. Put the money back into junior development programs, at almost 50k per club it could do a whole heap of good.

 

[Paladin]

All clubs bar one report before depreciation.

Depreciation is a non-cash, easily manipulatable accounting entry that can be used to create whatever profit you want within reason.

Exactly cash is king. Depreciation meh.

 

[1970crow]

Exactly cash is king. Depreciation meh.

As long as you never have to replace your fixed assets.

 

[Paladin]

As long as you never have to replace your fixed assets.

We could choose to depreciate our training facilities over 30 years but replace them in 10. Free cash flow is where it's at.

 

[1970crow]

We could choose to depreciate our training facilities over 30 years but replace them in 10. Free cash flow is where it's at.

You won't have free cash flow if you haven't apportioned the costs of replacement throughout the life of the asset. If you spend your pre depreciation surpluses, how will you have the available funds to replace the facility.

 

[Paladin]

You won't have free cash flow if you haven't apportioned the costs of replacement throughout the life of the asset. If you spend your pre depreciation surpluses, how will you have the available funds to replace the facility.

What are you an accountant

They still depreciated the training facility didn't they? Just reported profit before depreciation. Replacement cost if we move to the city would be a much higher figure.

 

[CrowsB4hoes]

You won't have free cash flow if you haven't apportioned the costs of replacement throughout the life of the asset. If you spend your pre depreciation surpluses, how will you have the available funds to replace the facility.

True. But if we're having a bad year, reduce the life of those assets to 5 years. If you're gonna make a loss make it big. People will forget in 12 months anyway. Then you can revise again 12 months later and extend out that life, book a lower depreciation and voila, profit.