Malcolm Green
Commodore

ISC MIRRORS AT MIRROR NATIONALS 2008

Eight Itchenor boats made it to Poole this weekend to compete in a re-arranged Mirror Nationals, the original event at Llandudno having been abandoned after one race as a result of strong winds. Despite the hasty reorganisation, over 50 boats turned up for the event. Clearly this event must be cursed this year as 30 knot gusts on Sunday meant that only one day of racing was possible. However, three races were held on the Saturday which were combined with the one Llandudno race to make a series. Strong, gusty winds made the racing challenging and exhausting, even within the relatively sheltered waters of Poole harbour. The Itchenor boats acquitted themselves well, with three crews in the top 10. Further down the fleet there were some courageous performances, particularly by those sailors for whom this was their first National event.

Results:

Henry & George Spreckley - 5th
Hugo Sloper & Aidan McCarthy - 6th (& 1st Under 15)
Emma Spruce & Lucy Ford - 9th
Izzy Fitzgerald & Lisa McDanell - 16th
Charlotte Fitzgerald & Annie Sibthorp - 20th
William Hartley & Henry Fry - 42nd
Harry Dent & Jack Dent - 45th
Hal Miller & Jonny Miller - 55th

Overview of the Financing Proposals.

The General Committee has been at pains to put in place a conservative financing of the Proposals. The repayment of the Bonds issued to finance Phase 1 (and Phase 2 if approved) has been spread over the next 20 years.

If the proposals for Phase 2 are approved, the Levy (£50 per Full Member, £25 per spouse) will be extended to 10 years from 7 years as previously communicated. The Bonds will be repaid from the proceeds of the Levy and a contribution from the Club’s normal operating income. It is intended that such contribution will entirely come from what the Club will save on its repairs budget and its normal capital expenditure program. The building fabric will be newer, in better condition and, we hope, will not need such high ongoing repair costs as have historically been necessary.

It is not intended that the Club will have to raise subscriptions or prices simply to finance the repayment of the Bonds. Nor is it intended that there will be any impact on the Club’s normal operating expenditure, be it on sailing, house or any other activities.

It is also expected that some members will convert their loans to gifts thereby reducing the amount that the Club will need to finance. Members have already agreed to convert over £85,000 of Bonds to gifts.

If any member has a concern regarding the financing of the Proposals, please attend the meeting or call the Treasurer, Christopher Newell, on cdnewell@aol.com or call him on 07785 904295.