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SAVING FOR A RAINY DAY POLICY SLAMMED
The stark reality of the global economic crisis became clear last night as CCC reported losses of £71.45 during the last financial year.
Several contributory factors have been identified, these being 'match fee deficiencies' and 'increased capital outlay', notably the first purchase of new balls this decade.
Club Treasurer Roger French also commented: "Pitch fees rose, but fair play to the university, they do provide an amazing service. However, the main problem was the fact that for several years now we've been saving for a rainy day. Unfortunately during 2007 90% of days were rainy, so we blew the cash."
Club Secretary Cliff Spencer praised quick-thinking French who managed to pocket £0.55 found in the Heaton score-box on 25th June last: "If it hadn’t been for the Treasurer thinking on his feet like that the deficit would have shot through the psychological £72 barrier, something we could ill afford."
The financial problems at the club are not expected to affect the signing on fee for Chris Smith, which are being covered by Peter Finkill Alcoholic Beverage Purchases Ltd.
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