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Find out more about the finance operation of Exeter City FC. The only fans owned Football Club in the Football League

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  1. 1. Finance
  2. 2. Sue Smith Club Accountant Beyhan Aslan Club Cashier Steve Williams Finance Director Jon Paddison Finance Consultant Angela Ellicott Accounts Assistant Reception Volunteers Justin Quick Management Accountant The Finance Team
  3. 3. Exeter City AFC Ltd Finance and Accounting Functions Finance Director Steve Williams Overall control and systems Consultant Jon Paddison In charge of management accounts, budgets and forensic work, reporting to SW and the Board Management accountant Justin Quick Club management accounts, Pride of Devon figures, budgets, reporting to Jon Paddison Club Accountant Sue Smith Control of Sage system processing, standard accounting functions, credit control, cash flow and payroll Chief Cashier Beyhan Aslan Day to day accounts processing and control of all cash systems
  4. 4. Budgets <ul><li>Why are Budgets necessary </li></ul><ul><li>To calculate monies available to the club and availability to spend per department </li></ul><ul><li>Traditionally prepared early spring for next season </li></ul><ul><li>Pitfalls – as per prior years, unknown league results </li></ul><ul><li>Preparation – Extract last seasons data, excluding specific one offs events </li></ul><ul><li>Examine new sources of income and cost savings </li></ul><ul><li>Allow for special demands needed such as Pitch replacement </li></ul><ul><li>Make decisions on future stadium repairs and developments </li></ul><ul><li>Football Budget – Anticipated Income less Commercial & Operational costs </li></ul><ul><li>Allows Manager to make future decisions on Players </li></ul><ul><li>Proportion monthly targets for cash flow purposes </li></ul><ul><li>On completion and agreement of Directors present to the Board for approval </li></ul>
  5. 5. Continued Progression <ul><li>Developed Processes </li></ul><ul><li>New guidelines for advanced years budgets </li></ul><ul><li>Control of our finances </li></ul><ul><li>Monthly Management Accounts presented to the Board who then circulate to the Clubs Finance Committee who act on behalf of the Trust </li></ul><ul><li>Target Variance Analysis </li></ul><ul><li>Monthly Cash Flow Forecasts </li></ul>
  6. 6. Forecasts Forecasting - The Reasons Cash Flow assumptions Estimate cash flow forecasts Peaks and Troughs highlighted Flexing the budgets over short or long term assumptions Carrying Season Costs forward where applicable, such as salaries over income Football related / Stadium Development
  7. 7. Growth % over last 5 Years <ul><li>Turnover / Football Budget / Overheads </li></ul>
  8. 8. For Season 2009/2010 the overall variance on take at the gates was £23,432 (-) However this was only -0.04% loss variance from forecast
  9. 9. For Season 2009/2010 the overall variance on gate payers was an increase of 2579 persons to forecast figures making 0.03% increase The particularly low gates were for Swindon, Carlisle and Bristol Rover rearranged games The particularly high gates were for Brighton, Leyton Orient and Huddersfield games
  10. 10. Customer Data
  11. 11. Average Debtor Days Taken to Pay
  12. 12. Comparison of Local to National Figures 2009/10
  13. 13. Supplier Data
  14. 14. Time Spent per Week on each Department
  15. 15. Time Spent per Week on each Department
  16. 16. Sales Process <ul><li>Reception Point of Sale Database Recording Daily Report </li></ul><ul><li>Cash Safe Cash recount Securitas Bank Periodic Safe Checks </li></ul><ul><li>Cheque Bank List Banking </li></ul><ul><li>Credit Card Daily Z Read Numerical receipt check Credit card Statement </li></ul><ul><li>Online Payment Daily Report check </li></ul><ul><li>Standing Order Bank Data log Match Statement </li></ul><ul><li>All payment methods Product Analysis Sage Accounts Bank Statement Check EOM Reconciliations Funds transfer to Trust & Subsidiaries </li></ul><ul><li>Invoice request Customer Order Number Raise Sales Invoice Allocate Payment by type Send Statement Chasing Letter Legal Solicitors Letter Court Claim </li></ul><ul><li>Additional communication processes have reduced the debtor payment days and improved customer relations </li></ul>
  17. 17. Match Day Process <ul><li>Ticket Sales Online Email Analysis Bank Statement Sage </li></ul><ul><li>Gate Sales Cash Sales Process Ticket / Cash Count </li></ul><ul><li>Match Day Analysis Ticket Sales by type Programme Sales </li></ul><ul><li>Match Day Payments Analysis Reconciliation </li></ul><ul><li>Football League Extranet update Levy Payment Sage </li></ul>
  18. 18. Other Processes <ul><li>Purchase Process Purchase Order Request Delivery Note Match Invoice Payment Allocation Statement Check Recharge Departments Invoice Request </li></ul><ul><li>Additional implementation of Football Budget Controls centralised by Football General Manager </li></ul><ul><li>Monthly Process Reconciliation Checklist Journals </li></ul><ul><li>Adjustments Safe Check Payroll and HMRC submissions </li></ul><ul><li>Management Accounts Prepare Analyse Compare to Budgets Investigate Discrepancies Circulate & Question Department Heads Agree Finalise Present to Board of Society </li></ul>
  19. 19. Goals & Aims <ul><li>Strive to continued growth in all areas </li></ul><ul><li>Retaining the club individuality of Trust ownership </li></ul><ul><li>Accuracy & Transparency </li></ul><ul><li>Continued good communication & customer service levels </li></ul><ul><li>Increased IT abilities for ease of operations and tighter controls </li></ul>