AGM 2023 Proposal: Rebuilding CCFC’s reserves

[ClaptonCFC]

Following the purchase of first the Old Spotted Dog ground and then the warehouse, CCFC currently has little or no reserves. We are also paying out £29,131 a year in loan repayments.

What this means is that we have no safety net in the event of a future emergency, Had we had these loans at the start of the pandemic in 2020, it is possible the club would not have survived.

CCFC has a reserves policy that requires us to have an “Operating Reserve Fund that maintains an adequate level of unrestricted net assets to support the club’s day-to-day operations in the event of unforeseen shortfalls”.

The AGM agrees to mandate the Finance Committee to produce a calculation of what our policy calls “average recurring operating costs” – this has changed considerably since the policy was written in 2019 – and then a plan to replenish our reserves within five years, beginning with the budget for 2024-25.

Proposed: Kevin Blowe