The Supporters’ Trust is committed to ensuring financial probity and to see that strong governance is exercised over the financial affairs of our Football Club. We have in place a series of governance mechanisms that seek to ensure that the Trust Board has a strong understanding of the finances of the club, and the ability to act if necessary.
The Trust Board believes it important to highlight the ongoing governance arrangements that the Trust has over the financial and business affairs of Our Football Club and in the hope that it will show our membership that our Trust is an integral part of the operation of Our Football Club.
Whilst we are keen to be as open as we can with our members, we also have a duty to protect the business operation of Our Football Club. It would clearly not be in the interest of Our Football Club as a competitive business, to disseminate all financial information available, as to do so could prejudice the commercial interests of our club. Furthermore some information is subject to confidentiality and there can be Data Protection issues.
It is a key role of the Finance and Governance Working Group to ensure that the above governance is in place and effective. The Club’s Board (which comprises four Trust nominated Directors ( the Club nominates the same number) and the Finance and Governance Working Group are the two key ways in which in which the Trust understands our Club’s financial situation and any issues with the Club. Club Directors, whether they are Trust nominated or not are under statutory obligations to ensure that the Club is a “going concern” and scrutinise and challenge the financial affairs of Our Club. It is important to understand that the Club’s resources are limited and not all the financial information which one would want in an ideal world is produced / disseminated.
The Trust’s Finance and Governance Working Group sees regular monthly precis of the management accounts from our Club. This Group makes regular written and oral reports to the Trust Board, to which it is accountable.
The Trust is now in a much better position with regards to the governance of our club’s finances than it has been recently, particularly in terms of information received. Discussions with the Club remain ongoing, with the view to further improving the governance and scrutiny that’s presently in place.
The Finance and Governance Group is also responsible for ensuring the appropriate governance between the Trust and the Club and in this regard it has been working hard, through a delegated group, with a view to the Club having new Memorandum and Articles of Association and a legally binding agreement between Club and Trust.
It is also responsible for the production of the Trusts Accounts and the budgeting and reporting of Trust finances both against budget and generally.
The Trust Board strives to conduct as much of its business discussions as possible through the open component of our meetings, and always welcomes attendance at these. When arranged, details of the next meeting will be posted on the Trust website.