I want to draw your attention to the four important documents that together make up the CRFC AGM 'Pack' that were presented on the occasion of the AGM on June 26. They are comprised of:

1) The Minutes of the CRFC AGM held on June 26th 2015.
2) The 2014/15 Annual Financial Statement.
3) The 2015/16 Club Tactical Plan.
4) The 2015/16 Outline Budget

They are accompanied by explanation and commentary from CRFC Chairman, Graham Callard, and our Finance Director, Peter Johnstone and together they outline the crucial deliverables for the health and future of our Club. Please examine the plans carefully for your information. As you will see CRFC is in a sound financial position and we have positioned the Club as being first and foremost a rugby club, but one which is managed on a professional business basis.

The clubs assets significantly exceed the debt that we entered into in order to build the new clubhouse and we have been diligent in making interest and other payments to work the outstanding debt down on a planned basis. But there is still work to do over the next few years to reduce and eventually eliminate the debt which is a central aim of our financial planning. As a measure of this, in the 4 seasons since the new clubhouse was built we have reduced our debt burden by nearly £20k per year after paying all other expenses. The amount currently outstanding that we need to repay our lenders is £275k.
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We are confident that the tactical plan can be achieved within the financial framework laid out in the documents. CRFC has spent much of the last 10 years planning for, and building, the new clubhouse in a cautious way. As President, what I find exciting is that we are now entering a new era in which we can not only prudently manage our affairs but afford to invest for the future benefit of all members and their families.

I commend you to read these plans and let us know in what way you may be able to help meet our objectives.

Yours sincerely,

David W Clark,
President CRFC"

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