Under the Brindabella Ski Club Rules, one of the required items of business at the AGM is to set membership subscriptions.
At the committee meeting on 8 September, the committee had much discussion on the question of membership subscriptions due in November 2020. The committee considered the financial position of the club at the end of a year in which accommodation revenues were greatly decreased compared to a normal year. This leaves the club facing a very significant cash flow deficit for the year, requiring us to make sizable redraws on our loan. We contemplated the likelihood that the pandemic will continue to impact our operations next year, leading to another significant cash flow deficit and requiring further loan redraws. To ensure ongoing viability of the club, it is imperative that the club increase its revenues.
We considered the possibility of a membership levy in addition to membership subscriptions and reached a decision notto recommend to members that a levy be called.
We discussed what level of annual subscriptions to recommend to members at the AGM. After much discussion we reached a decision to recommend an increase of approximately 30%. We anticipate that this increase would be temporary and that we would decrease subscriptions when accommodation revenues improve as the economy recovers from the COVID emergency.
I will write more comprehensive explanatory notes in my report to the AGM. I intend to circulate this to all members in written form prior to the AGM to give members time to digest it.
The relevant motions to be put to the AGM are as follows:
Motion 2: Setting of Membership Rates
That annual membership subscriptions be increased by 30% and rounded to an integer multiple of $5.
Motion 3: Membership Levy
This motion has been withdrawn.
If motion 2 is carried then membership subscriptions will change as shown in the table below. Note that the subscriptions stated are the full amounts that will be due. All members, of all membership classes, will receive a discount of 20% on their subscriptions if they pay on time. The last column shows the subscriptions after the discount is applied.
|Membership Class||2020||2021||2021 with on-time discount|
President, Brindabella Ski Club