DF Fund Update

We would like to take this opportunity to update supporters with details of total money raised on and spent by the club’s Development Fund over the course of the 2017/18 season to date and an understanding of where DF revenue is spent.

Up until 28th February, the DF has raised income of £66,474 across all sources (e.g. direct debits, standing orders, pound for the ground, barrels, DF turnstile, raffles, DF events etc).

The DF Fund expenditure during this period falls into two categories; namely supplier costs and capital project costs.
To date supplier costs which included buying the holiday draw prizes for the year at a cost of £14,750, professional fees relevant to the ground build (SMRE redevelopment and lease issues), loan repayments of £7,000, a historic loan taken out for the ground build and ancillary charges have been incurred to a total of £38,124.

Capital project costs which include planning fees (SMRE redevelopment and lease issues), £11,400 CCTV infrastructure costs incurred replacing the original inadequate system and the payment to Manchester City Council of £4,500 for access works to Lightbowne Road during the original ground build which we committed to paying at the time but were only billed for recently have been incurred to the total of £27,368.

Members can access a full itemised breakdown of DF expenditure in the members secure site of the website here: click here

It will probably come as a surprise to supporters just how many bills are incurred on the ground development and build aside from the bricks and mortar which you can obviously see, but unfortunately this is the reality.

Supporters will probably be aware that towards the end of the ground build a loan was arranged with Manchester City Council to fund a shortfall of money to finish the build. To date during the 2017/18 season we have paid £29,350 to MCC in interest on this loan. Although the loan was taken out solely to build the ground, payment was made from Club funds rather than through the DF Fund as we had not raised enough in the DF for this.

With large repayments in excess of £350,000 on the ground build debt due next season it is important that supporters understand that the DF Fund is a long term project, and this precis of where we are with the Development Fund has been written to refocus all members’ and supporters’ attention to the very real challenges we face.

Since its inception, the Development Fund has been a testament to the passion, dedication and generosity of FC United supporters everywhere.

With a new committee now in place, dedicated not only to fundraising, but also to transparency in the operation of the DF, and with a number of fundraising initiatives to come throughout the coming months, we are confident that the DF can once again achieve the levels of fundraising it did in those early days, so crucial to the club’s continued existence.

To do that though requires all members and supporters to refocus to donating to the DF in whatever way they feel they are able to.
Supporting the fundraising events is one way of doing that. Other options are listed here click here
The DF will be on the agenda at the April General Meeting on Thursday 12th April for those who have further queries or require more clarification.