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Financial Notes

As has been hinted by Tim Large in his 'Lifeline' it appears that the subscription will have to be raised.  The following notes will enable members to arrive at their own conclusion to what level the sub should be raised.

by Sue Tucker, Dave Irwin and Tim Large

Talking money problems in the B.B. makes for dull reading when the whole Journal could be packed with caving and associated news.  Subscriptions.  There is one fact that stands out like a sore thumb and that is that the subs will have to be raised from the next club year - 1979/80.

What we've tried to do, hopefully, is to summarise briefly the various expenditure that the club incurs in a year and relate this to the current membership.  Note these figures do not allow for any drop in membership due to 'natural wastage' or to the increased sub itself.

In Janubry.1972 the subscription was increased from £1.25 to £2.50 and many members were shocked when this occurred.  Some thought that the world had ended and the BEC would be in severe financial trouble - that did not happen.  Membership is growing at a faster rate than for many years and the Committee foresees the membership at over 250 before long.  The sub was raised again in 1976 to £3.00; the present rate.

Anyway, what we have done is to extract the relevant expenses that is incurred by the club as a whole and not included any item that is part of the Belfry costs except the insurance and rates.  We have also included the same costs as they were in 1973 to show clearly the rise in costs over the period of the last six years and reduced these to represent the costs to an individual member.  These costs per member have been based on a 175 subscription paying members – remember that the club has 50 Life Members.  In a further attempt to stabilise the current situation all the various re-saleable accounts (surveys, boots, carbide etc.) have been frozen and any fresh stocks are to be funded from the profits of the previous sales.

One likely area of controversy is likely to be in the suggested switch of Belfry Insurance and rates to the sub paying member enabling Belfry surpluses to be accumulated for future improvements as well as a levy included in the sub to swell this sum. It is also argued that the Belfry belongs to all members and so the basic annual costs of the buildings should be borne by all members.  This argument is countered by the fact that all members, particularly the Life Members financed the building in the first place and the General financing and upkeep is the responsibility of those people using the building at the present time. The Belfry income and expenditure accounts will be published before the AGM so people will have the opportunity to debate this before the AGM.

Whatever way the argument on the reapportioning of the Belfry expenditures the Club decided the basic problem is how to finance any major repairs in the future.  In theses days of high inflation it is not really practical to raise money slowly over a number of years as the accumulated sum will only chase costs.  Any major work to be carried out on the Belfry is probably better to be raised over one or two years by putting a levy on both the subscriptions and the Belfry bed night fee.

The chart that follows indicates the choice of the make-up of the sub and some do include a proportion for a Belfry fund if it is deemed necessary.  It is clear that the sub has to be raised.  What the Committee will have to do in coming to a recommendation is to assess the amount of floating money it requires for non-recurring costs £100 has been estimated in the chart, and Belfry improvements.  Remember that the Belfry is now 10 years old and will soon need several major repairs and improvements.  Let the BB publish your views before the AGM e.g.  Where can we make substantial savings without loss of service to members?; Should the Committee raise the sub annually to reflect the National rate of inflation? Get your pens out NOW and don't sit there moaning if the sub more than doubles….

 

£

£

£

£

£

£

£

£

£

£

£

£

 

 

1973

1979/80

a

b

c

d

e

f

g

h

j

k

 

BB Printing & Distribution

173

450

2.50

2.50

+

1.50

+

1.50

2.50

+

1.50

2.50

+

1.50

2.50

2.50

 

3rd Party Insurance

47

122

.70

.70

.70

.70

.70

.70

.70

.70

.70

.70

 

Tackle

111

175

1.00

1.00

1.00

1.00

1.00

1.00

1.00

1.00

1.00

1.00

 

Subs (BRCA etc)

8

38

.30

.30

.30

.30

.30

.30

.30

.30

.30@

.30@

 

Belfry Rates inlc. Water

72

122

----

.60

----

.60

----

.30@

----

----

@

@

 

Belfry Insurance

45

130

----

.75

----

.75

----

.38

----

----

.38@

.38@

 

Library

14

30

.20

.20

.20

.20

.20

.20

.20

.20

.20

.20

 

Belfry Improvement

---

175

1.00

----

1.00

----

1.00

----

----

----

2.00

.50

#

Se. Expenses

19

50

.30

.30

.30

.30

.30

.30

.30

.30

.50

.50

 

 Non-recurring costs

--?

100

.60

.60

.60

.60

.60

.60

.60

.60

.60

.60

 

SUBSCRIPTION RATE---------------- 6.60   6.95  5.60     5.95     6.70   5.28     5.60    4.60    8.28     6.28

+ = bi-monthly B. B.

@ = Belfry Insurance and Rates

NB; g leaves arrangements as they are at the moment without any support funding for the Belfry.  It also does not allow any income for Belfry improvements.

# tackle – out of position