Professional Documents
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HYC Fee Structure Information Meeting Monday, June 29, 2015: Introduction and Mandate
HYC Fee Structure Information Meeting Monday, June 29, 2015: Introduction and Mandate
Board. Any by-law changes would require the support of the membership at the
Annual General Meeting in January.
Other sources of Revenue. During the meeting and on the blog and
questionnaire, many members have suggested looking at other sources of
revenue. It was pointed out that the Club does have other sources such as
regattas, the bar, Friday night dinners, yacht fees, private events etc.
However, membership fees are the largest single source and accounted for
43% of revenues in 2014. The success of other activities can also be very
dependent on cooperative weather and water levels. While Board members
welcome suggestions, many of the ideas were outside the scope of this
Committees mandate. However, as pointed out by one younger member, if
the Club is forced to look at other sources of revenue rather than ensuring a
sustainable fee structure, it could become a very different place in the future.
Other new Categories and Social Memberships. Some other Clubs offer
social memberships for a very low fee. It was pointed out that these may be
more expensive than expected as they can be accompanied by minimum
food and beverage charges and members can be subject to periodic
assessments. There was also some question regarding the potential interest
of social members in volunteering, which is key to the success of HYC.
Another member suggested that a Family Social membership, or a limited
number of guest passes would allow them to entertain their grown children
who have moved away and make the Club more valuable to them. For this
group it was suggested that out of town memberships and house guest
temporary memberships which are both currently in place, might be options
to consider. The club also offers a sabbatical leave for grown children who
are away at school.
Next Steps
Thanks again to everyone who participated. The next step is for the Committee to
convene a second meeting in the fall for final membership discussion before final
presentations and recommendations are presented to the Board. In the meantime
we continue to welcome comments and suggestions and please feel free to contact
members of the Committee or to provide comments on the questionnaire or the
blog on the website. http://hycfeerebalance.weebly.com/