- Raith Supporters Trust - http://www.raithtrust.org.uk -

Raith Rovers FC – General Meeting, 12th February 2015

The Fife Free Press published an excellent article [1] summarising the recent General Meeting at Starks Park. For those who couldn’t make it, here is some more detail on the information presented by the club to those present.

The meeting began with new club chairman Alan Young presenting some highlights from the accounts for the year to 30th June 2014. The club is in an improved trading position, with a £97.5k profit due to a 23% increase in turnover. The biggest factors in this improvement were prize money, gate revenue and TV money from the Scottish Cup run (particularly the games against Hibs and St Johnstone), and from the Ramsdens Cup victory (although this was a much smaller source of income than the Scottish Cup). The payroll-to-turnover ratio is 54.7%, and costs are under control. For comparison, the current payroll is £180k lower than in 2010. All but £80k of the liabilities in the accounts are to “internal” creditors, i.e. New Raith Rovers, Raith Rovers Holdings, and Starks Park Properties, and there is no bank borrowing. Tax payments are up-to-date. In the words of club chairman Allan Young “we’re gradually getting there”.

The draft accounts for the current year are showing a small loss for the first six months, and an anticipated profit for the current quarter. Financial performance for the fourth quarter will be heavily dependent on results on the pitch. The financial rewards for our final league position vary greatly, as does the prize money and possible TV money from the Scottish Cup if our run extends past the quarter final.

CEO Eric Drysdale commented on some of the non-financial developments at the club:

John Sim spoke on behalf of Starks Park Properties about the stadium:

Tom Phillips spoke about the changes to the youth football set-up:

Dave Wann outlined some key issues from his perspective as representative of the supporters’ shareholding:

Tom Phillips provided some additional information about the Raith Rovers Community Foundation:

There was a lengthy and lively Q&A session, with various members of the board plus Grant Murray, Laurie Ellis and Maurice Malpas participating.

The meeting closed with a surprise for one shareholder present, when Alan Young presented his predecessor Turnbull Hutton with a framed certificate and announced his appointment as Honorary Life President of the club. Turnbull received a standing ovation from the room.