Development Fund

Introduction

The fund has been created to ensure the Club's long term financial integrity, even when subjected to occasional extraordinary expenses.

Purpose

From time to time the Club requires expenditure which is additional to normal Club running costs. Normal running costs include maintenance capital expenditure and minor works and improvement costs.

In the past extraordinary expenses have been met by means of special voluntary fundraising efforts, such as supported the installation of the new jetty. Whilst it is likely that future development opportunities may also continue to benefit from that approach, there may be occasions when a particular project, however deserving, does not capture the imagination of the broader membership to the extent required. It is on these occasions that a well financed development fund might be particularly helpful. 

Oversight

In order to create clear water between the Fund and day to day capital spending and maintenance needs, and to correctly prioritise competing projects in an impartial manner, it is suggested the fund is overseen by three previous Commodores, who should be reconfirmed annually at the Club's AGM. In any case, in order to preserve objectivity and independence, no member of the Club's current GC, including Flag Officers, should serve on this oversight committee.

Funding

Funds will be held in a separate and clearly designated bank, savings or investment account/s.

Two contribution pathways are available:

1. Contributions can be made in the form of a one-off payment or in the form of regular contributions, monthly or annually, in the following amounts:

£50

£100

£500

Other (please state).

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Such donations might be made optional at the time of subscription collections.

2. Further contributions can be made in the form of single donations, including legacies via the Commodoreor the Honorary Treasurer.

Both contribution pathways might be advertised on an infrequent but regular basis via Club notifications, or via the Club website on a standing basis.

Last updated 13:27 on 26 January 2024