NORTH SYDNEY DISTRICT RUGBY LEAGUE FOOTBALL CLUB ANNUAL GENERAL MEETING TUESDAY 19TH DECEMBER 2017 at 7.00Pm IRVINE ROOM, NORTH SYDNEY LEAGUES CLUB
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NORTH SYDNEY DISTRICT RUGBY LEAGUE FOOTBALL CLUB ANNUAL GENERAL MEETING TUESDAY 19TH DECEMBER 2017 at 7.00pm IRVINE ROOM, NORTH SYDNEY LEAGUES CLUB 1 OPENING and APOLOGIES Quorum was declared and the Chairman opened the meeting at 7.02pm The Chairman asked the Meeting to stand for a minute’s silence in respect of those Members that have deceased over the past year. Apologies were accepted from Gary Larson, Finton O’Loughlin, Warren Morris, Gary Bigg, John Ruddick, Alexander Drake. 2 CORRESPONDENCE No correspondence was received. 3 ACCEPTANCE OF MINUTES OF NSDRLFC ANNUAL GENERAL MEETING HELD 22ND MARCH 2017 The Minutes of the previous NSDRLFC Annual General Meeting of 22 March 2017 were distributed. Fred Thompson moved, Peter McGrath seconded the motion ‘That the Minutes of the NSDRLFC AGM of 22 March 2017 be approved.’ CARRIED. 4 CHAIRMAN’s REPORT The Chairman spoke about the 2017 season which saw the ISP side make the finals but unfortunately bow out in the first week. He stated that it had been a solid season but injuries had had a detrimental effect. The Chairman said 2018 would be an entirely different set up for the Club, particularly with the reinstatement of a North Sydney side in the Jersey Flegg competition following the end of the NRL’s Holden Cup competition. He said that changes to the size and make-up of NRL squads would also have a big impact upon the Club. The Chairman spoke about the junior representative sides and some of the success of the Harold Matts side. In terms of junior numbers, the Chairman said that 2017 had seen a solid increase in the number of registered players in the junior competition. The Chairman spoke about some internal structural changes at North Sydney – much of which was focused on growing the Club’s revenue base and increase our commercial offering to sponsors. Fred Thompson moved, Peter McGrath seconded the motion ‘That the Chairman’s Report be approved.’ CARRIED. 5. ACCEPTANCE OF FINANCIAL STATEMENTS The Chairman noted that a number of questions had been received by Members in regards to the financial statements. He invited Sean Wiles to speak to the financials. Sean Wiles provided an overview of the 2017 finances. The key points were: revenues were up by 3.5% to $1.1m. Sponsorship had increased by $210,000 – an increase of 14% over the previous year. In cash at bank the club had $17,000 and had sustained an operating loss of $19,000. The Club had a positive cash flow at year-end of $16,000. Mr Wiles explained the operating loss as a result of depreciation and provisions for employee long service leave. He said that the important fact to note was the Club’s positive cash flow at the end of 2017. Mr Wiles stated that an increase in sponsorship and merchandising would be a big focus of the Board in 2018. The General Manager Mr Greg Florimo addressed the meeting, stating that the Club had received eight questions from Members in the lead-up to the AGM. In relation to the Junior League expenses of $101,603 (reported on page 7) could you please advise on what this is made of, and explanation of the significant increase from 2016. Mr Florimo responded that Junior League expenses are made up of Grand Final expenses, ground hire, referees, wages and superannuation. The increase of 2016 can be attributed to a portion (80%) of Mr Josh Hyland’s salary is now costed to Junior League. •Can a detailed breakdown of the Football Team Expenses ($601,338) be provided Mr Florimo explained player payments were $175,846; coaching/staff $105,250; Doctor and Medical $55,202; Junior League $101,603 and Player Outfits were $109,320. The balance was made up of insurance, travel, entertainment, trophies and ad hoc expenses. •What was the total remuneration paid to Norths contracted players for year ended 31 October 2017 and the year ended 31 October 2016. Mr Florimo explained year-end total remuneration for 2017 was $133,945 whilst the year-end 2016 figure was $124,466. •What was the total amount paid to Souths for the year ended 31 October 2017, and a breakdown of what these payments were for (i.e. coach / sign on fees / match payments for players / other expenses) Mr Florimo explained that the payment consisted of $20,000 for Luke Kelly; $50,000 for ben Gardiner and $21,900 in match payments. •Can you provide an summary of the total amounts paid to Souths for the last 5 years. Mr Florimo explained that in 2017 the amount was $91,900; in 2016 $93,921; in 2015 $48,200; in 2014 $23,300 and in 2013 the total amount was $20,600. •Is the short term benefits of Key Management Personnel Compensation of $178,750 accurate? Mr Florimo explained the figure calculated his full-year salary and a quarter of the year for Mr David Perry. •Could provide an explanation of discretionary fund of $5,898. Mr Florimo explained it consisted of $1,210 to Gym Jam for equipment repairs; $4,500 in legal costs and $188 for an Untrastudio Mini Recorder. •With the fielding of an U20s and NSW Cup team in 2018, could you advise an explanation of the increased costs to run these teams (as compared to 2017) and how this will be funded. Mr Florimo explained that the NSW Rugby League have committed to Club grants for 2018 of up to $350,000 to help field teams in the NSWRL ISP and Jersey Flegg competitions and to provide greater welfare to players and coaches, which is an additional $250,000 on 2017 funding. Mr Florimo stated that costs will be in line with additional funding expected from the NSWRL. The funding is conditional on clubs having key requirements around player welfare, governance, coach and player development, facilities and teams entering in both the Jersey Flegg and ISP competitions. Mr Florimo explained the breakdown of funding as is currently understood is $150,000 to NSW ISP; $50,000 to Jersey Flegg; $50,000 to Welfare and Education; and $100,000 to Coach and Player Development. The Chairman asked if there were any further questions. A Member asked about legal costs for the year – which were around $4,400. A Member asked the Auditor Mr Tim Davidson about the ration of current assets to current liabilities and whether he was satisfied the Club could fund its debts. The Auditor replied in the affirmative. A Member asked what he based his view on. The Auditor replied on the information provided by the Club. A Member asked the Auditor if he had issued a Management letter to the Board. The Auditor said he had not. The Member asked the Auditor if he would like to add anything else to the Members. The Auditor said he did not. A Member noted that $90,000 had been paid to South Sydney DRLFC and asked if this would increase in 2018. Mr Florimo said that a new two year deal with South Sydney had recently been signed which would involve more South Sydney players at North Sydney in the ISP Cup, especially given the NRL squad next year was expanding to 36 players. Part of the new agreement involved North Sydney players training with the NRL squad at Redfern Oval with South Sydney. Mr Florimo noted that North Sydney had committed $200,000 on our player spend, which was an increase from the $175,000 spend of 2017. Mr Florimo stated that there would be no match payments to South Sydney in 2018. A Member asked whether the Club was paying for the use of Redfern Oval. Mr Florimo confirmed that the Club was paying around $30,000 a year which included the use of South Sydney’s high performance facility. Fred Thompson moved, Marty Lawson seconded the motion ‘That the Financial Report of NSDRLFC be accepted.’ CARRIED. 6. ELECTION OF SEVEN BOARD DIRECTORS FOR THE 2017-2020 PERIOD The Chairman noted that at the close of nominations there were seven nominations for the seven positions as Directors of the NSDRLFC. Perry Lopez, Justin Owen, Mark Dowell, Sean Wiles, Marty Lawson, Peter McGrath and Fred Thomson were declared elected unopposed. 7. GENERAL BUSINESS The Chairman asked if there were any further business. A Member noted the Club’s ISP performance and the need to strengthen the playing roster in 2018. He asked what the Club’s recruitment plans was for 2018. Mr Florimo responded stating that a new Coach for 2018 had been appointed in Shane Millard, a former coach of the Illawarra Cutters and long-term NRL player. There would be a particular focus by the Coach on recruitment in the January/February 2018 window. The Member responded that this was a high-risk strategy for recruitment and said North Sydney needed a core of 10-12 players to be genuinely competitive in the ISP competition. He said that he feared South Sydney would fill the ISP side with 20s players. A Member asked if North Sydney goes to country areas to review and acquire players for the Club. Mr Florimo responded that the Club does not have a List Manager and acquire players from rural areas through a range of ways including word of mouth. The Member drew the Club’s attention to Mudgee and the Group 10 competition where he stated there were many good players available. A Member referred to the last four years of the NSWRL ISP competition and stated that when combined North Sydney had the least number of wins outside of the Manly-Warringah club.