PRESIDENT'S FINANCIAL UPDATE

To all our valued members, partners and stakeholders, What an amazing year on so many different levels we have experienced in this, our 120th Anniversary: We achieved record Membership of 2,136, 32% up on our target Member number; After the ignominy of last year’s crushing Grand Final defeat, we were able to rebound, finish on top of the ladder and ultimately became Premiers in a classic WAFL GF; Our Corporate Sponsorship reached new levels; Fremantle Community Bank Oval hosted the WAFL GF for the 1st time in 110 years; We fielded 3 women’s teams, including a League team, and won the Roger’s Cup; We achieved a Net Operating Profit of $419,000, the likes of which never seen before.  I can’t begin to tell you how proud I am of our whole Club in this COVID-challenged 2020 year and need to thank at the outset, the much-maligned WAFC for getting the 2020 Season started, let alone finished. WAFL clubs playing games are absolutely critical to their relevance in the community and to get started on 18 July 2020 was a major step in not just assisting the Bulldog Family in coping with COVID-19, but the whole WAFL community.    From an operational perspective, we experienced significant increases in revenue from our Game Day Attendances (Gate Receipts $61,904 from 4 home games), Membership (+ $60,000 on 2019), Merchandise & Memorabilia activities (+$70,000 on 2019) and Commercial Partnership activities (+$50,000 on 2019).   Our 2020 financial result will surprise many, but it needs to be made abundantly clear that this result is absolutely a “one-off” and emanates essentially, from the following 3 major contributions: 1. Our loyal Corporate Partner’s honouring all 2020 Sponsorship commitments, often in spite of their own commercial adversity, allowing us to receive “full revenue”; 2. The Federal Government JobKeeper and Cash Flow Boost initiatives, of which we received $198,500 towards our actual 2020 Administration and Football wages cost; 3. The selflessness and commitment of our players to our 2020 Premiership aspirations, by agreeing to play for around 18% of previously contracted payments, all with a greater time commitment than normal.  Accordingly, we are back to financial “scratch” for season 2021 with all the normal financial challenges and difficulties, and likely more, so the 2020 financial celebration will be brief. I simply assure you the Board, our CEO Cam Britt, and all his team, are up for the challenge.   I invite and strongly encourage you to continue to help us, as we build an ever stronger and more sustainable Club, via “Joining the Family” and signing up as a 2021 member – we have some outstanding member options, catering to fans - https://membership.sffc.com.au/   Members are entitled to contact the club via admin@sffc.com.au to request an emailed copy of our finalised and audited 2020 financial statements, prior to the Club’s Annual General Meeting, being held on Monday December 7, 6pm at SFFC.   Sincerely, and with my utmost thanks - Peter Christie President South Fremantle Football Club