New beginnings - 25% Truth, 80% Bollocks

[Mooneyraker]

Goalposts definitely moved, that's for sure.

[welshred]

Is it just me or is this total bollocks and nowhere near the level of detail we were hoping for?

Oh, I see that Trust update was posted by James fucking Spencer. Great. He seems super legit.

[Bogus Dave]

They went from wanting their management accountant to get under the skin to present a ‘clear analysis of the clubs finances’ to their members

To saying ‘yes we’ve seen the numbers and the club will write an exec summary’

If you think that the compromise they’ve landed on would result in a more honest appraisal than a (what should have been) independent appraisal by the trust then I’ve some magic beans to sell you

[Nemo]

Oh, I see that Trust update was posted by James fucking Spencer. Great. He seems super legit.

He's just the webmaster, his name is on every article because it's him literally pressing post, it's not meant to reflect his 100% authorship (for example, his name is on every Dan the Fan column).

[welshred]

He's just the webmaster, his name is on every article because it's him literally pressing post, it's not meant to reflect his 100% authorship (for example, his name is on every Dan the Fan column).

OK. I still don't understand how anyone at the Trust would think this is an acceptable update?!

[BenTheRed]

Trust Statement is a disgrace - how are they not reading the room

[reeves4england]

What's said in the update is good. They've seen the books, there will be executive summaries in future accounts and the annual report is going to become more comprehensive.

It what's not said that's the problem. Even a line saying a report on the findings will be presented in due course would have done for the time being.

Edit: Just seen that the Trust's initial intention was to "present a clear analysis of the club's finances to members in an understandable manner". I imagine it'll take time to prepare that, which is why the line above would have been a helpful inclusion.

[BenTheRed]

Looks like the trust have let the club off the hook, I doubt there will be another look at the books for a long time

[Nemo]

What's said in the update is good. They've seen the books, there will be executive summaries in future accounts and the annual report is going to become more comprehensive.

It what's not said that's the problem. Even a line saying a report on the findings will be presented in due course would have done for the time being.

Edit: Just seen that the Trust's initial intention was to "present a clear analysis of the club's finances to members in an understandable manner". I imagine it'll take time to prepare that, which is why the line above would have been a helpful inclusion.

Broadly agree with that - it just needed to confirm that the Trust will have more to share with members, separately from the club's own processes.

[BenTheRed]

To this end, the club will be releasing its annual accounts in the next few months and along side this, with the help of the trust, intends to provide an executive summary to accompany their release. 

This isn't the role of the trust imo club and trust shouldn't be working alongside each other like this. The relationship needs to be distant and critical, trust needs to provide their own analysis separate to the club

[UTR]

Read over the Trust statement a few times to fairly judge it but the overwhelming feeling each time is it’s a big let down in tone from the original stance. Not that I’m surprised.

[Bob's Orange]

https://truststfc.com/2023/12/15/trust-board-further-update-on-club-accounts-review/

So is that the end of it? The Trust have seen the books, the club have done what they were asked of and nothing is going to be communicated about the books or anything like that?

On the face of it, appears to be a bit of a cop out.

[RedRag]

https://truststfc.com/2023/12/15/trust-board-further-update-on-club-accounts-review/

To quote George Orwell's Animal Farm:

"The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which."

[Power to people]

https://truststfc.com/2023/12/15/trust-board-further-update-on-club-accounts-review/

I'm confused, wasn't it said in the beginning they would provide a commentary or summary after viewing the accounts ?, be good to know what they found and to what level of detail they was given, if it was just an overview then surely that is pointless, and is this  a case, we have seen them but we cant tell you what we have seen as we have been asked not to ?

Obviously if they was given a full overview then they cant reveal everything for obvious reasons, but lets have some detail rather than a statement saying we have seen them.

[Bob's Orange]

I note on the Trust website they have 1498 members? I wonder how accurate that actually is. I imagine numbers will be dwindling, at a pace.