You can view the full financial breakdown by clicking here
It shows the Iron are anticipating a short fall of at least £1,014,537 despite receiving £950,000 in transfer fees since July 2012. The report says however, that £500,000 of the £950,000 was accounted for in the last set of accounts.
They have also confirmed that the projected gate receipt figure they have given in the document is likely to be incorrect due to a continued drop in attendances. The figure was based on average gates of 3,600 with the average price paid for admission to the ground as £10 per head. It is worth noting that up to 5 January 2013, the average home gate this season has been 3,304.
Here is a short summary of the incomings and outgoings. For a full breakdown please view the full report.
The document was released intending to inform debate and provide supporters with greater insight into the way the club is run. It is hoped it will inform debate for the future of the club when chairman Steve Wharton retires in the summer.
The Iron Trust said: “Recent lower gates will result in reduced income and another substantial loss – at least as high as that projected in the figures released – is likely to be recorded for this season.
"This is covered for this season by the increased loan from the current Chairman Steve Wharton. Fans will be aware expenditure is likely to be reduced as spending £1million+ more than income is not sustainable.
“The Trust believes it is increasingly important for clubs like ours to develop their own players capable of playing for the first team and becoming assets for the club in the future.
“The retirement of the Chairman in the summer means the club needs to look at ways of increasing commercial revenue in order to maintain a competitive budget. We believe the best way to do this is by putting supporters at the heart of the club, and by recognising the best way to keep fans supporting the club is through a focus on engagement with fans.
"The Trust is willing and able to play a role in this, as we aim to help develop a sustainable fan-focused club.”
The Iron Trust has 232 members and owns £2,000 shares in Scunthorpe United Football Club. You can follow the Trust online at www.facebook.com/theirontrust or www.twitter.com/irontrust as well as the website at www.theirontrust.com
