So where exactly is all this money going!?!

[Richard4acre]

Thi point has been raised whereby members of this forum believe that the current STFC board are raising funds to simply walk away afterwards. This initself seems unfeasable as surely they would be held accountable for their actions but just to raise a few issues...

£     x        increased gate recipts / playoff gates 2003/2004
£450,000+ for sale of Sam Parkin
£300,000   for sale of Rory Fallon
£125,000   for transfer of Sean o'Hanlon
£1,200,000 investment by Bill Power
£300,000+ for transfer of Dennis Wise & Gus Poyet
£750,000   for sale of Lucas Jutkiwicz
£     x       increased gate reciepts 2006/2007
£3,125,000 UNACCOUNTED FOR!!!

Granted there are factors to consider.....

Player tansfer fees free up revenue for wages of players that are brought in on free's for example Lee Peacock.
A good year previous leads to an increase in budgets, however a lack of performance in the higher bidget season will lead to reductions the following season.

But and this is a big but ... You do not reduce your budget following a promotion! Absolute bollocks, considerring we were lucky to get straight back up as apposed to dropping and dropping ala the likes of Bradford, Wimbledon etc.

Is our board full of A level accounting students (and i can say this becuase i've been there) that who crearte a suspense account for any innacuracies intheir records and just let it float around.... Theres a reason we're in a bloody CVA you know!

[Reg Smeeton]

Simply the money goes to pay off the interest and capital on loans raised against the properties of SSW.

[stfctownenda]

I know from working in accounts in my previous job for 4 years there is a term used 'creative accounting' where by people ammend there records in certain situations and I fear this could certainly be the case at the moment because as you say the amounts going into the club and not improving the clubs financial situation is inexplainable.  

The fact the auditors disagreed with the accounts for the holding company is another worrying factor and again brings into question the current board and how they run the club.

Couple of things that have been a nagging worry for me in recent times is as I said in the other thread they could be making as much money as they can before doing a runner this could be done through getting payments up front and not releasing exact agreements then perhaps putting a portion into the club and keeping some themselves.  

The other scenario is that the dealings of the club over the last few years have been that dodgy/bad that the possibility of facing criminal charges is too much so they will just take the club under.

Could be way over the top but they are things I am sure have crossed others minds.

[Simon Pieman]

Creative accounting would be picked up by the auditors if it was substantial enough. Like the holding company accounts.

If I remember rightly there was an increase in turnover for the playoff year. The club still didn't make a profit though.

It does seem, given that the Club cannot pay this CVA money, that the losses are getting larger though and the additional income isn't covering them. Where's the money going? With so many loans and finance costs my guess is here. Let's also not forget that the board's strategy of cutting the playing staff budget when we got relegated probably lost them a lot of income, given the dire performances on the pitch.

[Simon Pieman]

Although the crux of the situation remains in the fact that we don't have accounts for 05/06, or 06/07 to look at. It makes it ever more difficult to determine.

[lebowski]

has the playing budget really been cut?

i must have missed that revelation!

[Simon Pieman]

has the playing budget really been cut?

i must have missed that revelation!

eh?

[lebowski]

maybe i've mis-read richard's post but he seems to think the playing budget has been cut...

[stfctownenda]

Wasn't Sturrock quoted as saying he had a small budget to deal with next year? I am sure its been around somewhere.

[pauld]

It was in the Adver a couple of days after promotion. He said something along the lines of that we'd have one of the smallest playing budgets in League One next season. And given that the board have spent all season bitching about Mark D's "overspend" including the playing budget, it seems that the budget that got us out of League Two is likely to be slashed back to more like the budget that got us relegated from League One.

[glos_robin]

It was in the Adver a couple of days after promotion. He said something along the lines of that we'd have one of the smallest playing budgets in League One next season. And given that the board have spent all season bitching about Mark D's "overspend" including the playing budget, it seems that the budget that got us out of League Two is likely to be slashed back to more like the budget that got us relegated from League One.

Would you expect anything less from the football experts in the boardroom?

Must be Sandy Gray's turn to be chief executive again soon as well I would imagine.

[lebowski]

this is depressing. i need a holiday.

[newmarket red]

It was in the Adver a couple of days after promotion. He said something along the lines of that we'd have one of the smallest playing budgets in League One next season. And given that the board have spent all season bitching about Mark D's "overspend" including the playing budget, it seems that the budget that got us out of League Two is likely to be slashed back to more like the budget that got us relegated from League One.

Well i hope it doesn't cost us second time round by slashing the budget.

[Reg Smeeton]

It was in the Adver a couple of days after promotion. He said something along the lines of that we'd have one of the smallest playing budgets in League One next season. And given that the board have spent all season bitching about Mark D's "overspend" including the playing budget, it seems that the budget that got us out of League Two is likely to be slashed back to more like the budget that got us relegated from League One.

Well i hope it doesn't cost us second time round by slashing the budget.

  I think straight away, the extension of contracts of many of the existing players rather than a clear out suggests that Sturrock,  has little room to manoevre.  Even so we will be stronger than two seasons ago when relegation was always likely after the budget cuts handed to King....I wouldn't expect us to compete at the top end of the table though.

[Summerof69]

I think you'll find the latest accouts published had around £1.5m in 'admin expenses'. This is bigger than most of the budgets in the bottom two divisions.

Unfortunately, the club no longer gives a breakdown of these 'admin expenses'.