In a newsletter to members, Exeter City Supporters' Trust chairman Nick Hawker provided an update for season ticket holders, following the cancellation of the 2019/20 campaign as well as fundraising efforts.
Writing in the newsletter, Nick Hawker, said: "Both the Trust and the club would sincerely like to thank all season ticket holders for your continued support.
"As seems likely, we will be unable to play this season's five remaining home games, for which you will be entitled to compensation.
"However, if you are in a position not to claim your compensation, your donation will help to sustain your club in these challenging times.
If you'd like to donate your compensation back to the club then please, let us know at firstname.lastname@example.org and mark the subject matter on your e-mail 'No Refund'. Of course, if you wish to donate annonymously you could also take no action with the same outcome. Whatever you decide, thank you so much for even considering this!
The club will be issuing details on how to claim compensation in due course.
Since this newsletter, for the first time, features an update from a Trust working group lead, here are some thoughts from newly elected Trustee and member of the FGG, Yasmin Western, on her first five months on the Trust Board. Click here to read..
As you know, last August the Supporters' Trust launched STARS, a fundraising campaign in support of our Academy. Our target was to raise £12,000 and by March we were well on the way to achieving our aim having raised £11,000.
However, on Friday, March 13, when our league was suspended due to Covid-19 it meant that our remaining fundraising activities were also cancelled, leaving us £1,000 short of our target. The Trust Board agreed unanimously to make up the short fall and so together we have fulfilled our pledge to the Academy.
We have recently received a message of thanks from Kevin Nicholson and it's for everyone who supported STARS - by donating money, by increasing their Trust subs, by attending events, buying badges or postcards and by sponsoring events. Our Club helped enormously with support hosting events and media coverage. You can read Kevin's comments here...
If you wish to make a general donation to the Trust/Club you can do so here! Alternatively, you could join the Foundation. As always, I shall end by inviting you to contact me with any queries you might have. Thank you so much for supporting the Trust and Exeter City. Hopefully, I'll see you at a match shortly!
Stay safe and well everyone
There was also an important update from Trustee Peter Holding, lead of the finance and governance group, on the current financial situation.
He wrote: "Dear Member, I hope that you are well and coping with these strange and uncertain times.
"As a supporter owned club, and as the Trust lead on finance and governance, as well as being Club Board Director of Finance & Governance, I wanted to update you on where we stand.
"It will come as no surprise that neither we nor the Club are able to say with anything approaching certainty what the short and medium term financial outlooks are for the Club. There are just too many unknowns at present and although we have tried to forecast for multiple scenarios it’s important that I only report on the facts.
"At the moment the Club is losing money as it has no income from the playing of matches and is being, to a degree, financially supported by the government. This support comes in the nature of contributions to furloughing and the deferment of monies due to such things as HMRC. We just do not know how long this situation will continue for or if the resulting losses will be permanent or recoverable.
"Financially, we entered the crisis with the strategic aim of always retaining sufficient working capital (i.e. cash in bank) to enable us to trade for three months without income. The Club regularly update their cash-flow forecasts, both in terms of performance against prediction and our assumptions - e.g. when we might start playing again, and whether behind closed doors or not. These, as well as the management accounts, are reviewed by the Trust's Finance & Governance Group (the FGG) who are meeting fortnightly with their priority focus being the cash-flow of the Club.
"Whatever we do and whatever handle we have on things, there is no mistaking that these are really difficult times.
"We will, of course, update you as things develop! Finally, may I end by thanking everybody for their support and for the generous donations being made to the Club."