Newsletter | August 2020
Updated: Mar 6
A warm welcome to your monthly update from the Trust. This month's newsletter includes a Finance and Governance update from Pete Holding, and an introduction to our newest corporate member, GX Accountancy & Bookkeeping Services.
Finance and Governance
First of all, I hope that you are well and keeping safe in these extraordinary times.
Since my last appearance in the newsletter, regular reviews of the Club's finances have continued, with both the Club Board and the Trust's Finance and Governance Group paying particular attention to the cashflow forecasts.
Whilst these reviews are being undertaken in world where the unknowns far exceed the knowns, we now know that the furlough scheme is being run down and will end in October and that the season will start on 12th Sept and that it is hoped that limited socially distanced crowds will be allowed from early October.
The Club is working hard to try and understand both what the capacity at St James Park and what the financial impact will be; predicting bar receipts – for example - is difficult because it relies so much on human behaviour.
We are very conscious that whatever we plan for could be completely turned on its head were there to be for example a second lockdown either nationally or locally.
The Club has set up a Finance Options Group with the Club Finance Director, Nick Hawker, myself and Paul Morrish, in order to review on a more generic level how the Club might achieve a break even budget within the next three years, as well as what can be done to mitigate the negative effects of the present financial situation. This is focussed on both income generation as well as cost reductions
Whilst our approach remains reasoned and cautious, these are really difficult times, which will necessitate difficult decisions having to be taken to protect OUR CLUB
As always, we will do our best to keep you informed but at the moment most of what we say has to be conditional on the overall national Covid related picture, where by definition many decisions that significantly impact us are made by others.
Finally, may I end by thanking everyone once again for their continued support and generosity.
New Corporate Member.
We’re GX Accountancy & Bookkeeping Services – also known as GX Accounts for short!
We provide friendly forward-thinking accountancy, bookkeeping, payroll and tax services for you and your business. Ideal for small and growing businesses: sole traders, partnerships and limited companies, as well as charities and not-for-profit organisations.
We also provide advice and support to help you keep on top of your accounts throughout the year, helping you to manage your business better and keep on top of your tax liabilities.
For more information on GX Accounts, and all of our corporate members click here
Finally, we have been delighted with the initial response to our new website for the 2020/21 season, and if this is your first visit then please do check out all of the features in our news feed, including the story of City's first ever game in the English Football League, 100 years ago this week.
Over the coming weeks and months we will be bringing you more information and features than ever before, and if you have any ideas and suggestions for content on the site then please email email@example.com