ChrisWickens
Member
Without having any inside knowledge of the workings of the Club Board the recent problems appear to stem, primarily, from fairly basic cashflow problems. That has seen the departure of three individuals (two who were Board members). There are lengthy posts on each of those departures but I am intrigued that the Finance Director appears to remain unscathed.
So, what are the responsibilities of the Finance Director within the Club? The following is from the website of the Institute of Directors -
"The role of the finance director varies according to the size of the company involved. However, in general, he or she oversees all financial aspects of company strategy and is responsible for the flow of financial information to the chief executive, the board and, where necessary, external parties such as investors or financial institutions."
That seems to sum up what I would expect of our Finance Director - an important position; it may well be the case that this was achieved and for confidentiality reasons we cannot have access to any discussions.
However, it was obvious that in January the Club was going to have these problems and little appears to have been done in order to reduce the likelihood of a PFA loan. Was a root and branch audit conducted in order to reduce costs on one side and increase income on the other?
OK, more questions than answers and I have always thought it is futile concentrating on the past, but in order to go forward one needs to learn from the past.
I am a keen advocate of the Trust model but I consider a real improvement would be that the finance director should sit in both Boards, ensuring greater control for the Trust and the members.
So, what are the responsibilities of the Finance Director within the Club? The following is from the website of the Institute of Directors -
"The role of the finance director varies according to the size of the company involved. However, in general, he or she oversees all financial aspects of company strategy and is responsible for the flow of financial information to the chief executive, the board and, where necessary, external parties such as investors or financial institutions."
That seems to sum up what I would expect of our Finance Director - an important position; it may well be the case that this was achieved and for confidentiality reasons we cannot have access to any discussions.
However, it was obvious that in January the Club was going to have these problems and little appears to have been done in order to reduce the likelihood of a PFA loan. Was a root and branch audit conducted in order to reduce costs on one side and increase income on the other?
OK, more questions than answers and I have always thought it is futile concentrating on the past, but in order to go forward one needs to learn from the past.
I am a keen advocate of the Trust model but I consider a real improvement would be that the finance director should sit in both Boards, ensuring greater control for the Trust and the members.