Trust comments on accounts for 2018/19 year

[underdog]

Thought it was worth a bit of push.

 

https://trustoldham.co.uk/2020/07/02/trust-oldham-comments-on-the-clubs-accounts-for-2019/?fbclid=IwAR3tVQFcFs86ie71x8fHG-3OIb01JVIppRUwn_gh6tZmnwPLrqK71QpHphQ

 

Good news from where the Trust was 12 months ago, never mind 6 months ago. Good to see that the club are at least listening to advice as well

 

its a positive step towards the transparency and open-ness the fans wanted

[Sparkleking]

Credit where credit's due.  Probably the best analysis of our financial position that I have read in some time.

[underdog]

10 minutes ago, Sparkleking said:

Credit where credit's due.  Probably the best analysis of our financial position that I have read in some time.

The technical use of language I will presume is down to Philippa, the acting chair.

 

I do hope she can survive the vote at the AGM and be able to continue to offer the advice to the Trust, Club and EFL.

 

 

[Crusoe]

This is a decent read indeed. Clear and concise.

[singe]

For me, this is the best analysis since it became clear (years ago now) that we would not get the MyFootbalCub style insight that maybe was originally envisaged.
Noting confidential but a much clearer insight.

A significan step forward.

[singe]

10 minutes ago, underdog said:

The technical use of language I will presume is down to Philippa, the acting chair.

 

I do hope she can survive the vote at the AGM and be able to continue to offer the advice to the Trust, Club and EFL.

 

 

Hi underdog, Will this vote be open to members?

Has the membership ever had a vote before?

[underdog]

4 minutes ago, Crusoe said:

This is a decent read indeed. Clear and concise.

Philippa is extremly, methodical, factual on any analysis and has a wonderful technique of being able to read and defuse potential situations whilst still getting a grenade into the zone.

 

She will make and excellent chair if she is allowed to continue

[underdog]

Just now, singe said:

Hi underdog, Will this vote be open to members?

Has the membership ever had a vote before?

Yes members only vote at an AGM and is usually done in person. Trust has to public announce an AGM I think, 21 days before the date planned. Gives time for any member to add any proposals to the agenda for discussions as well

 

However with Covid, I am sure the Trust announced they would be looking into an online one? So I hope they are making arrangements for this and I hope, postal voting by proxy or email too.

 

Any co-optees will have to stand for election as well. So that is the new chaps Mike and Paul? Unsure if anymore have stepped up.

[whittles left foot]

9 minutes ago, singe said:

For me, this is the best analysis since it became clear (years ago now) that we would not get the MyFootbalCub style insight that maybe was originally envisaged.
Noting confidential but a much clearer insight.

A significan step forward.

Look, I don't want an argument just like your opinion of the published accounts?

Not it's a good thing they have been published, more the financials please.

[singe]

7 minutes ago, underdog said:

Yes members only vote at an AGM and is usually done in person. Trust has to public announce an AGM I think, 21 days before the date planned. Gives time for any member to add any proposals to the agenda for discussions as well

 

However with Covid, I am sure the Trust announced they would be looking into an online one? So I hope they are making arrangements for this and I hope, postal voting by proxy or email too.

 

Any co-optees will have to stand for election as well. So that is the new chaps Mike and Paul? Unsure if anymore have stepped up.

Ah, living so far away is why I've never had the opportunity to vote! Let's hope democratic alternatives are available. It's the 21st century after all!

[al_bro]

1 hour ago, singe said:

Ah, living so far away is why I've never had the opportunity to vote! Let's hope democratic alternatives are available. It's the 21st century after all!

I would have thought that all members should have always been entitled to a proxy vote. Perhaps the cost of postage and printing of forms made it to costly. Perhaps covid will prompt online voting , or at least being able to vote via email.

[the_mighty_bosh]

Can't say that I understood everything in it, but to me that's the best explanation of our situation in layman's terms in a long time.  Well done to those involved.

[TheBigDog]

“The Club remains a going concern (and thus able to keep trading on normal terms) solely due to the capacity and willingness of the majority shareholder to continue to finance the club’s activities and make good the deficiency in its assets as debts fall due to payment.”

 

The above is the reality. 

[tGWB]

33 minutes ago, TheBigDog said:

“The Club remains a going concern (and thus able to keep trading on normal terms) solely due to the capacity and willingness of the majority shareholder to continue to finance the club’s activities and make good the deficiency in its assets as debts fall due to payment.”

 

The above is the reality. 

 

Nailed it

 

Just wish he had the good sense to change some of his inner circle of advisers

[underdog]

4 hours ago, the_mighty_bosh said:

Can't say that I understood everything in it, but to me that's the best explanation of our situation in layman's terms in a long time.  Well done to those involved.

I must admit it goes whoosh over my head. However, this is the fans shareholding in action., to be an overseer. To have access to FULL accounts, regardless if the club want to publish unabridged in the public domain.

 

All I want to know is, are the bills/legal obligations being paid on time as well as staff and what the plan is/progress on the owners plan towards sustainability. Basic stuff I know but its all my brain can absorb

 

[underdog]

40 minutes ago, tGWB said:

 

Nailed it

 

Just wish he had the good sense to change some of his inner circle of advisers

There have been some subtle changes, maybe his slowly, slowly approach is finally kicking in.

 

Daily running of the club is in the hands of the MD Natalie Atkinson

Comms, is being overseen by Richard Bowden (in the main) before release.

 

There is no doubt he is financially, keeping us afloat and should be acknowledge for this. However, he still needs to build those bridges with fans, businesses and sort stuff out with the landlord or OEC to get the JR stand fully up and running to get some monies in.

 

We will have to see

[latics22]

Just now, underdog said:

There have been some subtle changes, maybe his slowly, slowly approach is finally kicking in.

 

Daily running of the club is in the hands of the MD Natalie Atkinson

Comms, is being overseen by Richard Bowden (in the main) before release.

 

There is no doubt he is financially, keeping us afloat and should be acknowledge for this. However, he still needs to build those bridges with fans, businesses and sort stuff out with the landlord or OEC to get the JR stand fully up and running to get some monies in.

 

We will have to see

He didnt check the last communication out of the club, if he did we need someone new.

[underdog]

1 minute ago, latics22 said:

He didnt check the last communication out of the club, if he did we need someone new.

TBH, I haven;t seen it, maybe not all comms then.

 

But they have at least been an improvement from another Director who was involved up to Xmas time

[al_bro]

What gets me about the 17/18 accounts is the fact they outsourced them, when they have an accountant on the board. 

[underdog]

19 hours ago, al_bro said:

What gets me about the 17/18 accounts is the fact they outsourced them, when they have an accountant on the board. 

From memory, I am unsure if the previous accountant (brother of the current accountant) was around at the time.

 

1) Trust and club met on 3rd May 2019 when we requested FULL accounts recorded in that meeting. Owner only confirmed then what he proposed board would look like.

 

2) 22nd July 2019, Club submitted the accounts for 2017/18. Without notifying Trust

 

3) 28th July 2019, Club registered New club board at Companies house. (None were financial/accountant people)

 

I do remember Trust rep then requesting during August time, access to financials to the other accountant.

 

[al_bro]

3 hours ago, underdog said:

From memory, I am unsure if the previous accountant (brother of the current accountant) was around at the time.

 

1) Trust and club met on 3rd May 2019 when we requested FULL accounts recorded in that meeting. Owner only confirmed then what he proposed board would look like.

 

2) 22nd July 2019, Club submitted the accounts for 2017/18. Without notifying Trust

 

3) 28th July 2019, Club registered New club board at Companies house. (None were financial/accountant people)

 

I do remember Trust rep then requesting during August time, access to financials to the other accountant.

 

Thanks, that explains it.

[singe]

Free work for the Club, despite assurances no work would be undertaken.

But for some reason thseminutes were buried.....

https://trustoldham.co.uk/2020/02/28/board-meeting-february-2020/

 

[oafcmetty]

The July minutes are "interesting". NLN and AL in attendance.

 

https://trustoldham.co.uk/2020/07/19/board-meeting-july-2020-minutes/

[underdog]

1 hour ago, singe said:

Free work for the Club, despite assurances no work would be undertaken.

But for some reason thseminutes were buried.....

https://trustoldham.co.uk/2020/02/28/board-meeting-february-2020/

 

I am disappointed and can't explain why this and January notes were done this way. Especially, when Trust Chair acknowledge in June that Trust had internal stuff going on. So why hide it?

 

Members are usually contacted with all announcements, meeting note publications and events directly and to give a bit of value for money...some worth. I don't remember seeing anything since I left.

 

January meeting notes, state he was asked by a fellow Director on paid work, the fan complaint gave evidence and that there was a direct link and is why I asked him again in Feb. 

 

There was no declaration of the Trust rep company paying to join the Clubs 125 business club in December. 

[underdog]

1 hour ago, oafcmetty said:

The July minutes are "interesting". NLN and AL in attendance.

 

https://trustoldham.co.uk/2020/07/19/board-meeting-july-2020-minutes/

It is isn't it. Owner again, giving the same promise to the Trust board (at the time) he has given to the current Trust board. A promise to work together. 

 

Its only when he was written to in April 2019 with Trust pressing for a meeting on the 6 fan expectations and pressing for a formation of a board, request for the FULL accounts as Trust right and a creation of the 3/5 year plan and to met before the end of that season....that dragged him to the table with some of his proposed directors and guests like Mike Halliwell.

 

I still can't get over those promises he made in Feb 2018 when he took over, a new start, this is the fans club without them its nothing, work together...... yet treated the trust with disrespect then and I would say still was until June time this year.

 

We were so full of hope, the stuff we could then be doing, fan stuff instead of full on watching the running of the club......there is only one director left from that time. That is how much knowledge has been lost to the Trust.

 

I do hope a new balanced Trust board can be that critical friend and hold the club to account when needed and praise when its doing right. I am worried for its future.