Saints News St Kilda FC: Governance Thread - Board and Committee

[Saints Governance]

NOTICE OF 2024 ANNUAL GENERAL MEETING

St Kilda Saints Football Club Limited
A.C.N. 005 174 836

Notice is hereby given that the Annual General Meeting of St Kilda Saints Football Club Limited (the “Company”) will be held by way of a meeting on Wednesday 18th December 2024 at 6:30pm at RSEA Park, 32-60 Linton Street, Moorabbin, to conduct the following business:

Ordinary Business
1. Financial and related reports - To receive and consider the annual financial report of the Company and the reports of the Directors and of the Auditor for the year ended 31 October 2024.
2. Election of Directors – To elect 3 Directors of the Company – In accordance with Article 10.2A of the Company’s Constitution:
(a) Mr. Jason Blake will retire by rotation and, being eligible, will offer himself for re-election for a further term; and
(b) Ms. Sarah Lowe will retire by rotation and, being eligible, will offer herself for re-election for a further term; and
(c) Mr. Michael Borsky, who was nominated by the Board, being eligible, will offer himself for election.

Please note that there will be 3 vacancies on the Board to be filled and the only nominations received in accordance with the Company’s Constitution were those of Mr. Blake, Mr. Borsky, and Ms. Lowe. In accordance with Article 12.2(c) of the Company’s Constitution, as the number of candidates nominated does not exceed the number of vacancies, Mr. Blake, Mr. Borsky, and Ms. Lowe will be deemed to have been duly re-elected or elected, as the case may be, and will be declared duly re-elected or elected at the Annual General Meeting.

By order of the Board.
Benjamin Daley
Secretary
27 November 2024

NOTES
1. Annual Financial Report - The Annual Report (including auditor’s report and directors’ report) will be accessible here. In addition, members may choose to receive free-of-charge the report electronically (email or fax) or in hard copy. If you wish to be sent a copy, please email reception@saints.com.au or telephone (03) 9967 4388 during normal business hours.

 

[Pakenhamsaint]

The net loss of the Group for the financial year after providing for
income tax, finance costs and depreciation is $2,045,275 (2023 profit: $1,748,021).

The Group produced an operating profit of $1,528,594 (2023: $2,602,534).

Made no improvement in the debt either.
2024: $5,886,495 (2023: $5,663,530).

 

[StCicatriz]

The net loss of the Group for the financial year after providing for
income tax, finance costs and depreciation is $2,045,275 (2023 profit: $1,748,021).

The Group produced an operating profit of $1,528,594 (2023: $2,602,534).

Made no improvement in the debt either.
2024: $5,886,495 (2023: $5,663,530).

Not a good year

 

[jwikked]

Not a good year

Wonder what the excuses will be. Thought we were behind this sort of stuff.

 

[Mat Mann]

That's what happens when you get a shit starting fixture compounded by poor performance, by the time you get to play at home no one is interested in turning up.

guess what happens again next year..............

how the club is not furious about these fixtures is mind-boggling. the big clubs will have a fairly even h/a fixture, but **** me, we have to go to SA and WA five times

 

[Pakenhamsaint]

That's what happens when you get a shit starting fixture compounded by poor performance, by the time you get to play at home no one is interested in turning up.

guess what happens again next year..............

how the club is not furious about these fixtures is mind-boggling. the big clubs will have a fairly even h/a fixture, but **** me, we have to go to SA and WA five times

Poor performance is the killer.

We play well in that part the back half is better by miles

 

[Dard Ball Get]

Wonder what the excuses will be. Thought we were behind this sort of stuff.

Give it a read JWikk, it’s all there in black and white, nothing to fret about

 

[jwikked]

Give it a read JWikk, it’s all there in black and white, nothing to fret about

Didn’t realize it had been fully released, cheers

 

[bergholt]

OK, a quick go at the financials.

Revenue down 1.7% (minus $1.0m)
Expenses up 4.8% (minus $2.8m)

Hence we're $3.8m worse off vs last year.

But last year our revenue was actually $2.6m higher than it should have been because of leftover government grants for Moorabbin, so take that out and we're actually $1.2m worse off than last year, still not great, but not as bad.


Specifics of programs:

• Football spend up 4.9% (minus $1.5m)
• Danny Frawley Centre net result up from a loss (plus $0.6m)
• Finance and admin revenue up 78.4% (plus $0.5m)
• Membership and reserved seats net result up 8.2% (plus $0.5m)
• Sponsorship and events net result down 8.7% (minus $0.5m)
• Money from the AFL up 2.0% (plus $0.4m)
• Admin cost up 4.6% (minus $0.4m)
• Match day net result down 11.8% (minus $0.3m)
• Merchandise down 26.3% (minus $0.2m)
• Fundraising down 7.5% (minus $0.1m)

My rough interpretation:

• Good that we're spending an extra $1.5m on footy vs last year.
• DFC with a pretty handy contribution, hope that continues to increase.
• No idea what "finance and admin revenue" is, maybe a real accountant can guess what that might be.
• Good work on membership and reserved seats.
• Poor work on sponsorship/events/merchandise/fundraising.
• A bit of a cost from people not turning up on match day/poor fixtures but not super material.

 

[BrutThough]

Merchandise down 26.3% (minus $0.2m)

My rough interpretation:

• Good that we're spending an extra $1.5m on footy vs last year.
• DFC with a pretty handy contribution, hope that continues to increase.
• No idea what "finance and admin revenue" is, maybe a real accountant can guess what that might be.
• Good work on membership and reserved seats.
• Poor work on sponsorship/events/merchandise/fundraising.
• A bit of a cost from people not turning up on match day/poor fixtures but not super material.

Just on the merchandise drop because that looks particularly bad - a significant amount of people brought 150th specific merch last season so I presume they were always expecting a drop off this year. We should hopefully see a rise again next year with the new logo and people wanting up-to-date stuff but the following year will again be an issue so thats an area they need to keep focusing on.

 

[kernelT]

Who gives a fig, the AFL have been engineering and fostering this class system for as long as I've been following the game.

We're part of a non-profit org valued at 70b with 100m revenue last year.

The disparity will continue to grow every year while the "big clubs" are gifted a significantly better fixture with more prime time and marquee events.

 

[StCicatriz]

Who gives a fig, the AFL have been engineering and fostering this class system for as long as I've been following the game.

We're part of a non-profit org valued at 70b with 100m revenue last year.

The disparity will continue to grow every year while the "big clubs" are gifted a significantly better fixture with more prime time and marquee events.

View attachment 2177301

i think plenty of people care

 

[kernelT]

i think plenty of people care

about the imaginary P&L?

Get the list and footy department right and then bottom line will improve, we've gone austerity in the past and it cost us decades in the wilderness.

 

[StCicatriz]

about the imaginary P&L?

Get the list and footy department right and then bottom line will improve, we've gone austerity in the past and it cost us decades in the wilderness.

people can chime in here, but my feeling is that people are worried that the growing inequities in things like the fixture and development pathways means that even if we throw every $ at it, the gap is too large to ever meaningfully improve the on-field in a sustainable way.

the fixture can make or break your season and it seems like the priority is to build everyones fixture around collingwood, ensure Geelong/the Northern clubs remain competitive and then work the big clubs in to maximise $$$. because its not an even fixture it means every club starts with an advantage or disadvantage before the season even starts.

i'd suggest because we take so much AFL $$$ we are expected to take on a more difficult draw at the expense of our revenue. like if we already receive 20m for the AFL they're not exactly going to be handing us the best draw possible.

 

[kernelT]

people can chime in here, but my feeling is that people are worried that the growing inequities in things like the fixture and development pathways means that even if we throw every $ at it, the gap is too large to ever meaningfully improve the on-field in a sustainable way.

the fixture can make or break your season and it seems like the priority is to build everyones fixture around collingwood, ensure Geelong/the Northern clubs remain competitive and then work the big clubs in to maximise $$$. because its not an even fixture it means every club starts with an advantage or disadvantage before the season even starts.

i'd suggest because we take so much AFL $$$ we are expected to take on a more difficult draw at the expense of our revenue. like if we already receive 20m for the AFL they're not exactly going to be handing us the best draw possible.

I agree with most of that but don't expect things to change in my time. Worrying about our profit/debt is not something I am going to give any energy to though.

 

[StCicatriz]

I agree with most of that but don't expect things to change in my time. Worrying about our profit/debt is not something I am going to give any energy to though.

i think its more a key aspect of improving our lot. i think the aim is if we can remove our debt and get our P&L in order it means we can make more demands of equity from the AFL in terms of the fixture because we take less cash and assistance from them. it effects our competitive balance.

 

[kernelT]

i think its more a key aspect of improving our lot. i think the aim is if we can remove our debt and get our P&L in order it means we can make more demands of equity from the AFL in terms of the fixture because we take less cash and assistance from them. it effects our competitive balance.

This ^ is built into the TV deal, I think we're absolutely zero chance of ever getting a decent ongoing fixture. I don't remember getting a bunch of marquee games or prime time slots when our bottom line was better. It shouldn't even be called "assistance", we eat shit so that the org can turn a huge profit.