Annual General Meeting
[Friday, 30 January 2015 09:34]
Chairman Alastair Donald presided over the 32nd Annual General Meeting of Forfar Athletic FC Ltd.in the 1984 Lounge last night.
He welcomed the shareholders present and commented on what had been another year to remember for the club, especially with the opening of the club’s new Hospitality Complex which he said would hopefully put the club on a firm financial footing for many years to come. This facility had opened it’s doors in August of last year, fully paid up, thanks to club funds accrued over the previous twelve months and substantial financial backing from supporters and local business.
He said that he felt that it was a remarkable achievement for a club of Forfar’s size that over the past three close season’s, three major projects had been under taken, the installation of a 3G pitch, the total upgrade of the floodlighting system and then the Hospitality Complex and Lounge facility.
All these projects had been completed without any detriment to the playing side of the club.
He thanked his fellow board members for their hard work, commitment and support during a very busy period for all.
On the field, he said that first and foremost the first ambition for the club at the start of the current season was to retain their SPFL League One status and the fact that his had been more or less achieved with still over three months of the season remaining was in some ways remarkable.
He was confident that the squad could continue in the remainder of the season to mount a serious challenge for a promotion/playoff spot.
Financially the club like all SPFL League One and Two sides face great challenges to balance the books, but the board especially with their new surroundings were forever looking at new fund raising ventures to augment the tried and trusted Dinners, Golf days etc.
The accounts to the year ended 31st May, 2014 showed a net profit of £101,000.
This was down to the fact that in the twelve month period, the club had three home games against Rangers and an exceptional cup run which had ended in a fifth round defeat to St. Johnstone at Station Park.
The turnover for the year of over half a million pounds was unlikely to ever be repeated, but ‘hope springs eternal.’
Despite losing in the first round of all three cup competitions this season, club officials were still hopeful of balancing the books, with a few major off the field events still planned for this current financial year notably the return of the Ladies Dinner due to take place in March, a second Reid Hall Concert of the season and the Sportsmans Dinner in mid May.
It was hoped that the home supporters would also turn out to back Dick and his players over the final seven home games of the season.
Vice Chairman Jim Farquhar was re-elected to the Board as the one retiring Director, while Raymond Hutt co-opted in July of last year as Director/Treasurer had his appointment ratified by the shareholders.