At the 2013 AGM the committee proposed a temporary reduced subscription rate, intending to reduce our bank balance by returning some funds to our members. Members agreed. Since then we have returned around £900 to our members. By the end of this financial year our funds will be around £1230, a little above the minimum reserve of £1000 the committee has set to ensure we have enough to run the club.
So, it is now time to recommend returning to a subscription rate that will cover our costs.
When I started as a novice Wayfarers Membership Secretary in late 2012, the subscription was £3 per year. It was reduced to £2 in 2013, and further reduced to a ridiculously cheap £1 pa. from 2015 until 2022. If you ride every week, that’s 2 pence per ride, with a loyalty bonus of a couple of free rides at the end of the year!
The money raised is mostly spent on the printing of the Sou’Wester newsletter and the costs of running our annual competitions, which are open to all Sou’Wester members.
During that time we have generally made a deficit of around £200, with smaller deficits in years when we run occasional self-funding events such as the Tri-Vets ride, which make a small profit for the club.
The committee will propose at our forthcoming AGM on May 11th to return the annual subscription rate to £2 for 2023, with the likelihood of a further rise to £3 the following year. We hope you will agree that it still represents good value for money.
Simon Lambourn
(Sou’Westers Treasurer and Wayfarers Membership Secretary)
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