FC Halifax Town has recently posted its Annual Accounts for the Financial Year ending 30 June 2018, covering the period 2017-2018.
After seven consecutive years of making profit, the last loss was £4,271.34 in 2009-2010, the Club is reporting a trading loss of £159,757. A controlled loss was planned for the 2017-2018 season, given significant cost increases following promotion back to the National League from the North division. With increases to playing budget, match day costs, travelling, overnight accommodation and a myriad of other expenses involved with the running of a football club, the Board recognised the need to utilise some of the £331,767 profit reserves previously accumulated. We were operating within the £150,000 planned loss, but due to a change of manager and assistant there were additional costs in settlement for the previous management team along with additional smallinvestment in the playing budget for the new manager, culminating in the final published result. Ultimately, the new appointment secured our status in the National League for another season, after it might have been in jeopardy.
The Board is committed to the ongoing prudent financial management of the Club, utilising both reserves (currently £172,009) and investment going forward.
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