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Football => Richmond Rant => Topic started by: mightytiges on November 30, 2004, 03:58:29 PM

Title: 2004 Annual Report - Director's Report
Post by: mightytiges on November 30, 2004, 03:58:29 PM

DIRECTOR'S REPORT

The Directors present their report on the consolidated entity
consisting of Richmond Football Club Limited and the entity
it controlled at the end of, and during, the year ended 31
October 2004.

DIRECTORS

The following persons held office as Directors of the
Richmond Football Club Limited ("the Club") during the
whole of this financial year and up to the date of this report.

CL Casey GI Cameron DE Lord G March RJ Turner

The following persons held office as Directors during part of
the financial year:

T Jewell (term expired 29/1/04)
BA Schwab (resigned 16/3/04)
PJ Welsh (resigned 18/3/04)
MC Daddo (resigned 25/3/4)
JG Matthies (appointed 29/1/04)
AP Mithen (appointed 20/4/04)
A Nicklos (appointed 3/8/04)
R Dalton (appointed 9/11/04)

PRINCIPAL ACTIVITIES

The principal continuing activity during the year of the
consolidated entity constituted by the Club and the entity it
controlled was the playing and promotion of Australian Rules
Football and there were no significant changes in the nature
of this activity during the year.

CONSOLIDATED RESULTS

The net loss of the consolidated entity for the year ended 31
October 2004 was $2,194,974. No provision for Income Tax
was necessary, as the Club is an exempt sporting
organisation in accordance with section 50-45 of the Income
Tax Assessment Act 1997.

DIVIDENDS

The Constitution of the Club specifically prohibits the
payment of any dividends to any members.

REVIEW OF OPERATIONS

An outline of the key events and their impact on the Club's
operations during 2004 is set out in the accompanying
President and Treasurer's reports.

MATTERS SUBSEQUENT TO BALANCE DATE

Subsequent to balance date and as discussed in Note 1(a) to
the financial statements the following matters have arisen:

(a) The ANZ Bank has renewed is credit facilities with the
Club;
(b) The AFL has committed to ongoing assistance in the
form of an extended redirection order; and
(c) The AFL has confirmed that access to the Competitive

Balance Fund could be provided if the Club was to
make an application, and should certain conditions be met.

LIKELY DEVELOPMENTS AND EXPECTED RESULTS OF OPERATIONS

Information on the likely developments and expected results
of the Club's operations is set out in the accompanying
President and Treasurer's Reports.

ENVIRONMENTAL REGULATION

The club has assessed whether there are any particular or
significant environmental regulations which apply to it and
has determined that there are none.

DIRECTORS' MEETINGS

The number of Directors' meetings convened and the
number attended by each Director during the financial year
are:
Number of Meetings Convened - Eleven (11)

Name	Total Attended
CL Casey	10
GI Cameron	10
MC Daddo (4 meetings held while a Director)	2
R Dalton (1 meeting held while a Director	1
AF Jewell (3 meetings held while a Director)	2
DE Lord	10
G March	8
JG Matthies (9 meetings held while a Director)	9
AP Mithen (7 meetings held while a Director)	6
A Nicklos (4 meetings held while a Director)	3
BA Schwab (4 meetings held while a Director)	3
RJ Turner	11
PJ Welsh (4 meetings held while a Director)	2

DIRECTORS' INDEMNIFICATION

The Club entered into insurance arrangements concerning
all the Directors, but not the auditor, of the Club. The Club
paid insurance premiums of $15,000 in respect of a contract
insuring each of the Directors against liabilities and
expenses arising as a result of work performed by them to
the extent permitted by law.

Name	Qualification	Experience	Position	Special Responsibility
CL Casey		President/Director. Appointed 16/12/99. Managing Director, Retirement Services Australia Pty Ltd.	President	Ex Officio all Committees
GI Cameron	PSM B.BUS (ACC) M.ECO, FAICD, FCPA, FAIM	Director. Appointed 16/12/99. Managing Director, Grand Hotel Group.	Director	Member of Governance Sub-committee and Football Sub-committee
MC Daddo	B.BUS (MKTG)	Director. Appointed 16/12/99. Resigned 25/3/04. Managing Director, M & C Saatchi Agency Pty Ltd.	Director	Member of Marketing Sub-committee
R Dalton	BA, FCPA, CA	Director. Appointed 9/11/04. Partner, Ernst & Young.	Director	Member of Governance Sub-committee
AF Jewell		Director. Appointed 13/12/94. Term expired 29/1/04. Business Manager, Tradelink Melbourne.	Director	Member of Football Sub-committee
DE Lord	B.COM, FAICD, FAIM	Director. Appointed 23/10/01. Company Director.	Director	Member of Jack Dyer Foundation, Sub-committee and Governance Sub-committee
G March		Director. Appointed 1/10/02. Managing Director, Concept Sports International Pty Ltd.	Director	Member of Marketing Sub-committee
JG Matthies		Barrister & Director. Appointed 29/1/04. Senior Partner, Solicitor of the John Matthies & Co Solicitors. Supreme Court of Victoria	Director	Member of Governance Sub-committee
AP Mithen		Director. Appointed 20/4/04. Sports broadcaster.	Director	Member of Communications Sub-committee
A Nicklos		Director. Appointed 3/8/04. Motorola Australia. Managing Director - PCS South Pacific	Director	Member of Marketing Sub-committee
BA Schwab	LLB	Director. Appointed 23/12/98. Resigned 16/3/04. Chief Executive, Australian Entertainment Industry Association.	Director	Member of Governance Sub-committee
RJ Turner	B.COM, FAICD	Director. Appointed 16/12/99. Company Director.	Director	Member of Marketing Sub-committee and Governance Sub-committee
PJ Welsh		Director. Appointed 9/12/97. Resigned 18/3/04. Managing Director, Tanami Trading Company.	Director	Member of Football Sub-committee

DIRECTORS' INFORMATION

AUDITOR

PricewaterhouseCoopers continues in office in accordance with Section
327 of the Corporations Act 2001.
Signed at Melbourne in accordance with a resolution of the Board of
Directors.
___________________________ _____________________________
CLINTON CASEY (Director) GARRY CAMERON (Director)

Dated this 22nd day of November 2004.