At last the 2020 Annual Report! If you haven’t got yours, ring Kathleen Grogan (0492 902 850) and ask her for a hard copy. It’s no use ringing the Club Secretary if you want something.
And a lovely summary it is too, covering virtually every Australian Irish activity in Melbourne, none of them anything to do with the Celtic Club, but let’s claim the credit! But to sterner things – the accounts. DON’T groan and delete. These accounts are gripping to say the least.
In fact, there are two accounts of the Club’s fortunes. One by new President Patrick McGorry on p 9. Don’t dwell on this one. It’s already hurt the brains of many talented readers. Twelve of McGorry’s items vary from the accountants’ version on page 47. Why does he think the Club is losing a lot less than it is? He’s only looking at the figures for half a year at a time. Oh dear. Let’s write that off as a nice try and focus on the accountants’ numbers.
Numbers are like people you know, they’ll tell you amazing things if you’re nice to them. Starting with the membership. Remember Brian sent us all a letter around Christmas telling us there were 522 members? Well there’s only $8294 in membership fees, suggesting about 276 members (divide by $30). My oh my, those numbers have crashed to less than a quarter of what they were – what a surprise! Moving right along to all the times we asked Brian to tell us the interest rate on the $17 million. You can work it out here, the answer is 1.6%. If he’d put the lot into WestPac Capital Notes at 2.247% he could have earned $419,900 – double the income we have. The Committee’s investors must be as good as its crack negotiating team and we know how that turned out!
So where is the money going? The standout expense is ‘legal’ $137,416 – that is 50% of the Club’s only major income is being thrown away on legal fees! What is this about? Is it something serious or just Brian suing people for defamation right and left? Then we find $78,900 for some expensive ‘contract’. What contract? Tell us more. Advertising, etc at $76,315 is a stunner. Who has seen a Celtic Club advertisement? The Club hasn’t run the pokies since it cleverly moved into a hotel without a gaming licence, so why is the Club paying $20,636 for gaming charges? On p.42 it shows that $14,312 in ‘jackpots’ for pokies that have been in storage for years – what’s going on? Renting two separate buildings is costing $76,313 and we know that $41,000 is going on the Williams St address which has just been abandoned and presumably we’re paying $35,000 for a hotel that the Committee can’t be bothered to clean up and open.
Let’s hope President McGorry gets a grip on these ridiculous expenses. Mind you that’s not certain given that Committee costs have gone up 4.5 times between 2019 and 2020. As they’re obviously not paying for talent, what are they paying for?
What’s the bottom line? In 2020, the Club lost over a MILLION dollars. So answer me this, with losses approaching a million and finally exceeding it over the last three years, how can Brian go on saying that the Club has $17 million “and no debt”?