AT MONTROSE FC’s annual general meeting last week, chairman Derek Sim outlined both the financial progress of the club since the end of May last year and playing progress during the current season.
Mr Sim is pleased that the club has continued to repay their debts for the 3G artificial pitch, underpaid PAYE and other creditors who were due unpaid bills.
He said: “Through strict budgetary control we have made significant inroads in repaying these debts.
“However, these repayments have had a major impact upon our playing and coaching budget and we shall have to maintain similar financial controls during the upcoming season.
“We enjoyed an excellent run in the 2009/10 Scottish Cup and the additional income played a significant part in improving our financial position.
“During the current financial year we have continued our policy of strict financial management and are confident the club can continue to enjoy a bright and healthy future with our obligations now considered to be manageable.”
The chairman continued: “During this season we again benefited from a good cup run before losing to Dunfermline Athletic.
“However, with regard to our league successes it has been extremely frustrating that in many games we have been unable to capitalise on pressure and the chances created in these games.”
The club has found itself frustrated by a lack of signings in the January transfer window, but the chairman praised the younger players who have come up through the ranks at Montrose.
He said: “Steven Tweed, Montrose FC manager, contacted many clubs prior to and also during the January transfer window with a view to obtaining additional playing personnel but regrettably was unable to reach agreement with any other club.
“Whilst we will continue to have budget restrictions for some time yet it is, however, encouraging to note the number of excellent youngsters playing for our under-19 team and it is anticipated a number of them will be able to make the transition to the first team in coming seasons.
“Due to budget restrictions we were unable to fund an under-17s team for this season, however it is vital we are able to stream good young players on a conveyor belt and we are looking actively how we can re-introduce an under-17 team for next season.”
At the meeting Mr Sim introduced three new directors to the club - Tom Murray, a partner at chartered certified accountants, Murray Taylor, who have sponsored the club for many years; Chris Doan, also from Murray Taylor and David Laing, managing director of Intervention Rentals Ltd., at Lunan. Intervention Rentals have sponsored the team bus this season.
Mr Sim said: “These appointments strengthen our board and ensure we have the experience and expertise to further develop new sponsorship, advertising and hospitality.
“Whilst we are always seeking new investment in the club we are also very grateful for the invaluable support we receive from our sponsors, supporters club and lottery.
“I also hope to be in a position, prior to the end of the season, of confirming an exciting development through the introduction of a Community Trust and Football Academy based at Links Park.”
He added: “Finally and most importantly I would like to thank our loyal fans for their continued support and ensuring senior football remains in Montrose.”