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Club Finance

 
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Manx7even



Joined: 01 Feb 2007
Posts: 17
Location: Fordingbridge

PostPosted: Fri Feb 16, 2007 12:21 pm    Post subject: Club Finance Reply with quote

Thought I'd start a thread which might kick off some discussion on this Forum. Smile

Do you think it's a good thing for the club to have such a large sum of money in the bank (over £32K), doing nothing.

What is it sat there for ?
Do the Management (Committee) have plans for it?
Should we be planning to spend it Laughing
Should we subsidise all events Question

Don't have any strong views myself !!

Discuss

Cheers,

Simon
Emmens
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Manx7even



Joined: 01 Feb 2007
Posts: 17
Location: Fordingbridge

PostPosted: Tue May 08, 2007 6:08 pm    Post subject: Reply with quote

Well that stirred up some interest Laughing
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kizzers



Joined: 21 May 2007
Posts: 4

PostPosted: Mon May 21, 2007 7:18 am    Post subject: Reply with quote

laptop for every marshals post on wiscombe to show times, information and cars currently on stage/position?
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mervbrake



Joined: 18 Feb 2007
Posts: 2

PostPosted: Sat Jun 30, 2007 12:31 pm    Post subject: Reply with quote

I did a magazine article on this some years ago, but the electronic version is lost & I haven't found it in print yet. The gist of it was that (using current figures) the 2 day hillclimbs at Longleat & Wiscombe turn over more than £20k each. We have to pay for many costs up front and most of the services (Rescue / Medics / PA etc.) will need paying even if the event doesn't run. We have in recent memory had to cancel & refund entry fees because of bad weather but made the decision early enough to avoid some of the costs, but a worst case scenario could see us £10k down the drain. The latest April Wiscombe should end up in surplus, but that is the first for 2 years. Basically you need reserves to promote events and stand the occasional disaster.

In the hope of stirring up more interest than Simon, what do people feel about refunds to non starters. If we cancel an event we refund, no questions, full stop. If a competitor withdraws after the date specified in the regs and there isn't a reserve waiting to come in, then the committee considers each one & will usually refund if a competitor is known to have have had a major mechanical disaster or accident, but not otherwise. Not everyone is happy with that, but a more generous policy would have to be factored into the entry fee - would you pay more so that you received a refund if you non-started for any reason?

Merv
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Black Widow



Joined: 26 Nov 2006
Posts: 14
Location: Bordon

PostPosted: Sun Jul 01, 2007 7:06 am    Post subject: Reply with quote

mervbrake wrote:

In the hope of stirring up more interest than Simon, what do people feel about refunds to non starters. If we cancel an event we refund, no questions, full stop. If a competitor withdraws after the date specified in the regs and there isn't a reserve waiting to come in, then the committee considers each one & will usually refund if a competitor is known to have have had a major mechanical disaster or accident, but not otherwise. Not everyone is happy with that, but a more generous policy would have to be factored into the entry fee - would you pay more so that you received a refund if you non-started for any reason?

Merv


I think if a competitor pulls out for a genuine reason, then a refund should given. BUT, that descision should be at the discretion of the event organisers. A small minority of competitors DO use excuses. I know this, as an event organiser with the FDMC. Things should stay as they are. If entry costs are increased, so everyone pulling out gets a refund, then there will DEFINATLY be a drop in entries as a whole. The FDMC has a good surplus in it's account, but like the Woolbridge, a lot of costs have to paid for in advance. If organising clubs are not careful, club level motorsport could disappear, which I for one, don't want to see. Sad

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