CFO's and CEO's are paid to manage the club's books. They are not paid to manipulate them.
The CEO would be given a list of KPI's by the board. We don't know the KPI's but they would include such things as profit/loss, FD spend, Salary Cap mgmt, Membership etc.
When Don McLardy discussed the Annual Report he made a point of praising the CEO's performance
This would indicate the Board believed that the CEO had substantially met his KPI's (to the Board's satisfaction)
I would think most reasonable observer's would conclude that the club got at least a pass mark on this year's Annual Report in a difficult year and environment.
The comments about where we are with relation to the big clubs are common knowledge and add nothing new. It's seems reasonable to state that we are fiscally moving in the right direction (cautiously).
It seems (to me) unreasonable to be excessively negative regarding these results
We all know where we want to be in the future and this is the fourth small step in that direction
This is basically good-news, not earth-shattering, so enjoy small mercies.