Okay, so, here we go.
First of all the Annual Report is here
http://www.parraleagues.com.au/ContentFiles/ParraLeagues/Documents/AnnualReport2009.pdf
Most of the stuff in this report is out of there.
Notable Attendees,
Current Entire Board of the Leagues club, FC Board Members, Price & Grothe, Former Board Members Ron Hilditch, Don Ritchie and Dr Michael Johnson, Former Board Member and Wenty Coach Brett Kenny, Terry Leabeater, and Former CEO Denis Fitzgerald.
Lance Rudd from the PLC welcomes everyone, and Notes on the Stage is, Roy Spagnolo OAM, Sid Kelly, Lyn Wallace, Mario Libertini, Joe Saad. Brian Belling and David Clarke from our Accounting firm, Paul Cheeseman Auditor, CEO of Parramatta EELS NRLC Paul Osborne, Group Accountant Daniel Ram and Acting CEO Bob Bentley.
Mr Spagnolo noted there were more than 50 in attendance so corum(SP?) was reached and the meeting could continue.
Mr Spagnolo spoke to open the meeting, He advised that the club is profitable due to more effective management.
Mr Spagnolo noted that Joe Saad now replaces Ron Hilditch who resigned from both boards in Febuary, Joe was elected but could not take his place due to the leagues club constitution. There was a large turn over in senior staff which is to be expected when a board that had been in for 20 years is removed. Mr Spagnolo noted his goals were for the club to be profitable, and that they wish to renovate the club (pictures will be forthcoming) he made no promises but stated this could be within 2 years.
Mr Spagnolo noted on a football front that the club had made the grand final and for that he gave thanks to Daniel Anderson, there have also been some great milestones, including Caylos 200th, Hindys Most games, Fuis 100 games, Luke Burts 200 games, and he thanks Ozzy for raining in the spending and allowing the club to give a smaller grant next year which will be in the area of 2 Million.
Apologies were received from Alan Overton OAM, and Chris Jurd, from the Floor, Eddie Boulous gave apologies for Norm Sivier.
ORDINARY BUSINESS
1) Minutes of previous Annual General Meeting
To receive and consider the Minutes of the previous Annual General Meeting.
Moved but member 8616 - Cullen,
There was no business arriving from the minutes
The Minutes were moved, seconded, and carried.
2) Annual Report & Financial Statements
To receive and consider the Annual Report, including the Annual Financial Report for the 12 months ended 31 December 2009 with the Reports of the Directors and the Auditors for the 12 months ended 31 December 2009.
Correspondence had been requested about the sales of properties from John Fenwick. Mr Fenwick requested to know
The date of sale
Who purchased the Properties
The Sale price
The clubs profit or loss.
Daniel Ram, the clubs accountant went into those details.
Two Blues
The date of Sale: 01/04/2009
Who purchased the properties: Saad Associates LTD
The Sale price: $3.8 Million
The clubs profit or loss: Was on the Books for a 2.3 Million cost to buy, and as the profits from the sales were 3.7 million to total profit was 1.4 Million.
DeVillers Street Property (Vacant Block of land)
The date of Sale : September 2009
Who purchased the properties : Northco Pty LTD
The Sale price: $2.2 Million
The clubs profit or loss. Was on the Books for a 2.5 Million cost to buy, and as the profits from the sales were 2.2 million to total a loss of $337,000
John Fenwick then spoke about the response and noted he is concerned about the sale of long term assests to retire short term debts and at the current rate we will have no assets in 3.5 years. John noted we are $10 Million overdrawn (See Annual Report Notes, Part 6), and wanted this bought to the attention of the Members as most of the Press has been about a $1 Million profit.
Sid Kelly responded that the decision to sell these properties came from the previous board and that the current board just followed through (Which bought great applause). Things are getting better and the clubs Bankers are comfortable with its financial position. (Pretty Much what Fitzy said in the paper before the last election).
Xavier Low (Member 51809) spoke to the motion and noted all that was good in the Annual Reports Discussion Points, that there was a $10 million turn around, Repairs are less, and assets are up.
Denis (42806) spoke that it was good to see the Legands here and went on to talk about the fact he blew $400 in the TAB. Mr Spagnolo called for a point of order here to get back to the discussion at hand.
Denis Fitzgerald (LM23) spoke against the report, specifically about the note that states he owes the club, around $40,000 that he believes this is a false and defamatory declaration, and he is perusing legal action over the statement.
This was responded to by the Clubs Lawyer who noted that a legal letter from Deniss lawyers had arrived at the club today and that it would be looked into, he was comfortable to say that he believes an incorrect number had been entered into the books and after interviews with staff that there are questions over this transaction, indeed it might be more.
Denis Pattern (81606) asked that we move ahead with the meeting, and leave petty squabbles aside.
The Motion to accept the minutes was moved and seconded, the vote happened, a majority for but 6 against.
3) Registered Clubs Act Requirements
Members are asked to consider and if thought fit, to pass the following resolutions as Ordinary Resolutions:
3.1 First Ordinary Resolution
The below was read by Mario Libertini
That pursuant to section 10(6)(b) of the Registered Clubs Act 1976:
(A) The Members agree to the payment of honorariums to the Directors of $10,000 each in respect each of the Directors services as a Member of the Board of the Leagues Club for the 12 month period to 31 March 2011, plus applicable statutory obligations.
(B) The Members acknowledge that the benefits referred to in (A) above are not available to Members generally, but only for those who are Directors of the Leagues Club.
Moved by Denis Pattern (81606), Seconded by Jan (84731)
Carried without opposition.
3.2 Second Ordinary Resolution
The below was read by Mario Libertini
That pursuant to section 10(6A) of the Registered Clubs Act 1976:
(A) The Members agree to the reasonable expenditure by the Directors with regard to the following matters in the 12 month period to 31 March 2011:
(i) a club suit, tie, shirts and other official clothing to be worn by a Director while representing the Leagues Club;
(ii) meals, drinks, accommodation, entertainment, transport, admission and other reasonable expenditure
with regard to:
(a) attending meetings of the Board and sub-committees;
(b) entertaining corporate partners, business associates, patrons, councillors, Members of State and Federal Parliament, and other dignitaries and guests in the Board Room of the Leagues Club and in Corporate Hospitality areas at playing venues of the Parramatta National Rugby League team;
(c) attending meetings and functions, including community, charity, rugby league and other sporting or worthwhile functions at the Leagues Club or elsewhere, as an official delegate or representative of the Leagues Club, including the attendance of spouses where required, or appropriate;
(d) attending rugby league matches of Parramatta National Rugby League team in the National Rugby League premiership competition, and any representative match conducted by the NRL, ARL or NSWRL, in Australia or overseas; and
(e) attending, as an official representative of the Leagues Club, any official pre-season, end of season, or other tour, with Parramatta National Rugby League team.
(B) The Members acknowledge that the benefits referred to in (A) above are not available to Members generally, but only for those who are Directors of the Leagues Club.
Moved by Denis Pattern (81606), Seconded by Jan (84731)
Carried without opposition.
3.3 Third Ordinary Resolution
The below was read by Mario Libertini
That pursuant to section 10(6A) of the Registered Clubs Act 1976:
(A) The Members agree to the expenditure by the Board of Directors of an additional sum not exceeding $100,000 with regard to the 12 month period to 31 March 2011, on account of reasonable expenditure on meals, drinks, accommodation, entertainment, transport, admission charges and other reasonable expenditure in attending Leagues Club conferences (two per year), gaming conferences, conventions, seminars, lectures, trade displays, educational, fact finding, study and information tours at venues anywhere in Australia or overseas in order to obtain knowledge of the gaming, hospitality, sporting and entertainment facilities or to plan future club extensions and to improve the quality of amenities and services to the Members of the Leagues Club, including the attendance of spouses where required or appropriate.
(B) The Members acknowledge that the benefits referred to in (A) above are not available to Members generally, but only for those who are Directors of the Leagues Club.
Moved by Denis Pattern (81606), Seconded by Jan (84731)
Carried without opposition.
3.4 Fourth Ordinary Resolution
The below was read by Mario Libertini
That pursuant to section 10(6A) of the Registered Clubs Act 1976:
(A) The Members agree to the reasonable expenditure by the Board of Directors with regard to the 12-month period to 31 March 2011 of funds not exceeding $70,000 to sponsor and support the sub-clubs, which operate within the club.
(B) The Members agree to the reasonable expenditure by the Board of Directors with regard to the 12-month period to 31 March 2011 of funds not exceeding $400,000 to make grants to individuals deemed worthy of support in terms of sporting or arts sponsorship, or hardship, or any other reason deemed appropriate by the Board of Directors.
(C) The Members agree to the reasonable acceptance and costs of attendance by Directors or Senior Management, as appropriate, of invitations from commercial partners or others to functions, or conventions or other activities where attendance is considered beneficial to the Leagues Club in the normal conduct of its commercial business and benefits pertaining thereto.
(D) The Members acknowledge that the benefits referred to in (A), (B), and (C) above are not available to Members generally, but only for those who are Directors and Members of the Leagues Club referred to in the resolution.
Moved by Denis Pattern (81606), Seconded by Jan (84731)
Carried without opposition.
3.5 Fifth Ordinary Resolution
The below was read by Mario Libertini
That pursuant to section 10(6A) of the Registered Clubs Act 1976:
(A) The Members agree to the expenditure by the Board of Directors with regard to the 12 month period to 31 March 2011, of all other reasonable out-of-pocket expenses including meals, drinks, accommodation, entertainment, transport and other types of expenditure not specified in the aforementioned resolutions which are incurred by any Directors in the course of carrying out his or her duties in relation to the Leagues Club subject to a resolution of the Board of Directors in accordance with section 10(6)(d) of the Registered Clubs Act 1976.
(B) The Members agree that Patron(s) of the Leagues Club will receive a badge, a Christmas hamper and corporate level entertainment at all Parramatta National Rugby League home football matches, including car parking facilities, where possible.
(C) The Members acknowledge that the benefits referred to in (A) and (B) above are not available to Members generally, but only for those who are Directors or Patron(s) of the Leagues Club.
Moved by Denis Pattern (81606), Seconded by Jan (84731)
Carried without opposition.
4 General Business
To Consider Appointment of Patron(s).
The below was said by Sid Kelly.
Don Ritchie (7002) has been a member for 38 years, he has been the club statistician and was appointed by Jack Boyle and Billy Rayner, he served in the position unitl Brian Smith took over as Coach in 1996. He was elected the FC board in 1985 and the LC board in 1988, serving as Deputy Chairman.
The motion was moved by Sid Kelly, Seconded by Eric (6263).
The motion was carried.
Patron Don Ritchie, spoke to thank all those present for their generosity in his appointment, Don recounted his Dads motto in life was Live so your memories are part of your happiness and that he has so many memories of this club that make him very happy. Don was most humbled by his appointment.
Roy Spagnolo as Lawrie Macullen to speak.
Lawrie has spoken with Chairman Spagnolo for the last 6 months on this idea, which the club start a foundation and a long mortgage fund.
Lawrie is an accountant, and that the idea is something unique in Australian Sport, that it would be a fund that would be like a government bond, and would fund the clubs loans. Then allow the club a lower % rate in interest which would be paid to those who invested in the fund. If the fund drew a profit, the club could manage that to make more money and that could be to offer first mortgages to the members.
The Board have requested a Product statement to consider.
Jon Fenwick spoke that his has a large question of risk
Mark Hepworth (88441) Noted this was a little like what Liverpool in the UK were trying to achieve,
Lawrie answered, it was an it wasnt
Mark Hepworth (88441) asked what would fund the profits, would it still be the clubs largest earnings from the poker machines, and if so is it not also at risk as noted in the concise report to raise in the tax rate the productivity commissions report that could see our profits drop by 40%.
Lawrie answer was that if we made enough money we wont have to worry about that, and Mark was given the hurry up by Denis Fitzgerald.
Eddie Boulous, spoke to thank Don Ritchie, Ron Hiditch for their service and wishes Joe Saad A lot of look young fella
John Fenwick asked the question about changes to 2 Grose Street Building. That Works ceased halfway through and then a council submission was made and notifications made to the neighbours and the public. Mr Fenwick asks did the club not lodge a DA? And if not who approved the work to go ahead without one?
Mario Libiertini interjected to state that everything Mr Fenwick has said has been negative tonight, Mr Spagnolo called a point of order and proceeded to answer Mr Fenwicks Question.
Responded to by Paul Osborne, that he was advised by Dyldam that no DA would be needed. Parramatta council eventually disagreed and ask the club to stop work and lodge a DA. Paul noted that the work was not carried out by Dyldam and that a request for tender was put out for this work.
Denis Pattern (81606) asked what happened to Tullio as he was his recommendation for CEO once Denis left. There have been rumours but he would like the board to explain.
Acting CEO Bob Bentley, responded that there was some legal action pending on this and that Tullio has lodged a complaint about unfair dismissal which goes to mediation on the 16th, if it progresses further details will be heard in open court and if that is the case Bob requested people go down to the hearings to be advised of what has happened.
Andrew Comfree asked are the Eels under the Salary cap.
Paul Osborne, Yes we are. (applause)
Andrew Comfree sort the boards re-assurance on the salary cap point.
Roy Spagnolo, Yes by about $40,000 and he has signed a Statutory Declaration to that fact.
Ron Hilditch spoke to thank everyone for their concern, his health is geting better, but it did lay him flat, and that he has loved his time at the club from the Juniors right through to Chairman.
Anthoney Davros (80914), Mentioned that Facciolities for members have been on the decline except for Pokies, that in the 80s there used to be a Bar and Bands playing Friday Sunday nights for people to enjoy. Sterlos Bar lost the pool tables, the bolwing carpet and the TAB and the Pool is being closed now and that is the last Members facility at the club. But it may not be lost. He asked what is going to be returned.
Mario Libertini replied to watch this space.
Eric Moore (6263) said that Cafe 88 has great food but no atmosphere
Mario Libertini replied that they have plans to fix this in the next 8 months.
Eric Moore (6263) wanted to know what is happening with the contracts for Kris Inu, Feleti Mateo and Kris Keating
Paul Osborne responded that negotiations were ongoing with these players, but he is resigned to losing players. Paul noted that at todays CEO conference they were asked for suggestions for the cap and Ossie put forward that he would like to see a veterans discount for club loyalty and a discount for players developed by the club. It is difficult and we cant keep them all but negotiations are ongoing.
Denis Pattern (81606), stated he goes to many clubs via his work as a uniform merchant, and that Doolies is the best performing club because on the weekends it gets in Asian bands with either Vietnamese or Chinese singers to perform and that attracts a large majority of Asian punters who also have a meal and spend in the pokies and that while most of the people in the room are European we need to work towards this demographic.
John Fenwick asked the question about paragraph 4 of Roy Spagnolos Letter to the members in the Annual report in which he states his board was unanimously elected, John knows this to be a lie as he didnt vote for the current board.
Chairman Roy Spagnolo apologised and stated that English was not his first language and that is the reason for the error, he apologised to anyone who didnt vote for him and was offended.
Meeting closed at 8:19pm.
