Dear faxfans.co.uk thread “Well done Fax”,
The Board was made aware this afternoon of post within this thread regarding the year end accounts and I would like to take a moment of your time to explain the planned delay.
As you will be aware the RFL metrics for ROI change after the 8s fixtures and due to this change, the board and I took the decision to accept a late penalty which we will personally pay because of the financial structural changes the club requires to meet its new obligations – we are as an example; completing 2 year ends in tandem along with substantial fiscal forecasting which (a) is a RFL requirement (b) meets the new ROI metrics and (c) provides the board and stakeholders with a longer term view. I personally agreed this format with the BoD, our staff, stakeholders and the accountants who needed to prepare the documents, who are working diligently to a tight schedule.
I wish, we had 9 months to prepare the 2nd set of ROI metrics but the RFL only gave the Championship and League 1 clubs the revised EBITDA formula for ROI, 6/7 weeks ago.
I hope this brief update helps.
Best wishes and on behalf of the Halifax RLFC board,
Christian”
