Difference between revisions of "THCCFinancialPolicy"

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{{Handbook TOC}}
 
{{Handbook TOC}}
  
The following rules apply to the financial affairs of the Club:
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The following rules apply to the financial affairs of the Club:{{TOCright}}
  
'''Club treasury'''
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== Club Treasurer ==
  
 
* The Club [[Treasurer]] collects and pays all Club moneys, and balances are retained in the Club’s bank account held with Barclays Bank.
 
* The Club [[Treasurer]] collects and pays all Club moneys, and balances are retained in the Club’s bank account held with Barclays Bank.
  
'''Membership fees and subscriptions'''
+
== Membership fees and subscriptions ==
  
* Waged members will pay an annual subscription of £50.  Unwaged members pay an annual subscription of £30. These rate may be varied at a Club Annual General Meeting.
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* Waged members will pay an annual subscription of £50.  Unwaged members pay an annual subscription of £30. These rate may be varied at a Club [[Annual General Meeting]].
  
* Members (waged and unwaged) will pay <strike>a daily subscription charge of £2.50 for using club equipment at weekly meetings or on trips</strike> an annual charge of £50.  This rate may be varied at a Club Annual General Meeting. Note that members who use their own equipment at weekly meetings are nevertheless required to pay their weekly dues as part of these dues are used to pay for our affiliation fees to Shadwell Basin, without which the Club would cease to have suitable premises.
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* Members (waged and unwaged) will pay <strike>a daily subscription charge of £2.50 for using club equipment at weekly meetings or on trips</strike> an annual charge of £50.  This rate may be varied at a Club Annual General Meeting. Note that members who use their own equipment at weekly meetings are nevertheless required to pay their weekly dues as part of these dues are used to pay for our affiliation fees to [[SBOAC|Shadwell Basin]], without which the Club would cease to have suitable premises.
  
 
* Non-members will pay a daily subscription charge of £7.50 for using Club equipment at weekly meetings or on trips.  As above, non-members will pay this rate even if they use their own equipment.  Visitors are limited to 3 try-out meetings per year otherwise the Club loses its exemption from registration with various regulatory authorities.
 
* Non-members will pay a daily subscription charge of £7.50 for using Club equipment at weekly meetings or on trips.  As above, non-members will pay this rate even if they use their own equipment.  Visitors are limited to 3 try-out meetings per year otherwise the Club loses its exemption from registration with various regulatory authorities.
  
'''Transport for Club trips'''
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== Transport for Club trips ==
  
Following a survey conducted in September 2003, the Club Committee at the time formulated a transport policy.
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Following a survey conducted in September 2003, the Club [[Committee]] at the time formulated a transport policy.
  
 
The results of the survey indicated that members appreciated that the true cost of running a car far exceeds the cost of fuel.  An initial proposal was to base the trip cost on a fixed rate per mile for fuel plus a fixed rate per mile for wear & tear for each car. This method, while being transparent and able to capture an average true running cost comparatively well, was not adopted because it can result in an overrecovery of costs for certain drivers whose cars are extremely cheap to run, and it also delinks the actual costs incurred on the trip with the amount reimbursed, which may have an implication for the validity of some insurance policies members may have on their cars.  It was therefore not suitable.
 
The results of the survey indicated that members appreciated that the true cost of running a car far exceeds the cost of fuel.  An initial proposal was to base the trip cost on a fixed rate per mile for fuel plus a fixed rate per mile for wear & tear for each car. This method, while being transparent and able to capture an average true running cost comparatively well, was not adopted because it can result in an overrecovery of costs for certain drivers whose cars are extremely cheap to run, and it also delinks the actual costs incurred on the trip with the amount reimbursed, which may have an implication for the validity of some insurance policies members may have on their cars.  It was therefore not suitable.
  
Instead, and wishing to retain the effect of allowing drivers a compensation for wear and tear, the Committee decided to adopt the following policy in respect of the costs when travelling in members' cars for Club trips <sup>[1]</sup>:
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Instead, and wishing to retain the effect of allowing drivers a compensation for wear and tear, the Committee decided to adopt the following policy in respect of the costs when travelling in members' cars for Club trips (''A Club trip is any trip on which club equipment is used by members away from the Basin.''):
  
 
* The following general principle should be applied: Driver supplies the car, passengers supply the fuel.
 
* The following general principle should be applied: Driver supplies the car, passengers supply the fuel.
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* Members who use alternative transport to get to a venue (e.g. the train) but who have their boat transported by one of the cars should be considered as half-passengers for the purposes of the calculation, and contribute an appropriate share to the total fuel pool.
 
* Members who use alternative transport to get to a venue (e.g. the train) but who have their boat transported by one of the cars should be considered as half-passengers for the purposes of the calculation, and contribute an appropriate share to the total fuel pool.
  
'''Other Club functions, including communal meals on Club trips'''
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== Other Club functions ==
 +
(including communal meals on Club trips)
  
* Members or non-members who purchase consumables or equipment for use at Club functions are entitled to a reimbursement of these expenses. The rate of reimbursement is the total cost incurred on behalf of the Club. The Club will pay the amount to the purchaser (on production of a suitable receipt or other evidence of expense) and reclaim an appropriate amount from the beneficiaries. Where it is unclear if expenses may be reclaimed or not, the Club Treasurer will adjudicate. Beneficiaries in the meal etc. should not attempt to settle directly with the purchaser.
+
* Members or non-members who purchase consumables or equipment for use at Club functions are entitled to a reimbursement of these expenses. The rate of reimbursement is the total cost incurred on behalf of the Club. The Club will pay the amount to the purchaser (on production of a suitable receipt or other evidence of expense) and reclaim an appropriate amount from the beneficiaries. Where it is unclear if expenses may be reclaimed or not, the Club [[Treasurer]] will adjudicate. Beneficiaries in the meal etc. should not attempt to settle directly with the purchaser.
  
 
In all matters of finance which are not clear, the Club Treasurer should be approached for guidance.
 
In all matters of finance which are not clear, the Club Treasurer should be approached for guidance.
 
[1] ''A Club trip is any trip on which club equipment is used by members away from the Basin.''
 

Revision as of 15:45, 12 April 2010

THCC Members Handbook Bullet.gif Communication Bullet.gif Club Night Bullet.gif Trips and Events Bullet.gif Equipment Bullet.gif Health and Safety Bullet.gif Financial Bullet.gif Club Constitution

The following rules apply to the financial affairs of the Club:

Club Treasurer

  • The Club Treasurer collects and pays all Club moneys, and balances are retained in the Club’s bank account held with Barclays Bank.

Membership fees and subscriptions

  • Waged members will pay an annual subscription of £50. Unwaged members pay an annual subscription of £30. These rate may be varied at a Club Annual General Meeting.
  • Members (waged and unwaged) will pay a daily subscription charge of £2.50 for using club equipment at weekly meetings or on trips an annual charge of £50. This rate may be varied at a Club Annual General Meeting. Note that members who use their own equipment at weekly meetings are nevertheless required to pay their weekly dues as part of these dues are used to pay for our affiliation fees to Shadwell Basin, without which the Club would cease to have suitable premises.
  • Non-members will pay a daily subscription charge of £7.50 for using Club equipment at weekly meetings or on trips. As above, non-members will pay this rate even if they use their own equipment. Visitors are limited to 3 try-out meetings per year otherwise the Club loses its exemption from registration with various regulatory authorities.

Transport for Club trips

Following a survey conducted in September 2003, the Club Committee at the time formulated a transport policy.

The results of the survey indicated that members appreciated that the true cost of running a car far exceeds the cost of fuel. An initial proposal was to base the trip cost on a fixed rate per mile for fuel plus a fixed rate per mile for wear & tear for each car. This method, while being transparent and able to capture an average true running cost comparatively well, was not adopted because it can result in an overrecovery of costs for certain drivers whose cars are extremely cheap to run, and it also delinks the actual costs incurred on the trip with the amount reimbursed, which may have an implication for the validity of some insurance policies members may have on their cars. It was therefore not suitable.

Instead, and wishing to retain the effect of allowing drivers a compensation for wear and tear, the Committee decided to adopt the following policy in respect of the costs when travelling in members' cars for Club trips (A Club trip is any trip on which club equipment is used by members away from the Basin.):

  • The following general principle should be applied: Driver supplies the car, passengers supply the fuel.
  • In practice, this means that the driver will calculate the total cost of fuel for the trip, and this cost is divided equally among the passengers. The driver pays £1 into the pool; by this he/she receives an effective contribution towards incurred wear & tear.
  • When more than one car is used on a trip, the total fuel costs should be pooled and shared equally among all passengers. This ensures that passengers who happen to be allocated to fuel-inefficient cars do not suffer at the expense of those in fuel-efficient cars, and also if certain cars transport boats and others transport people, the total cost of fuel is covered equally by all passengers.
  • Each driver receives his actual incurred fuel expense from the pool. The process of aggregating and collecting payments is most easily handled by the Club Treasurer.
  • If one or more vehicles on a trip are free (for example, because they are sponsored by an outside party, or because the driver insists on not being reimbursed), then the cost of all remaining cars' fuel is pooled and divided among *all* passengers (including the passengers in the free car). This ensures that those passengers who happen to be allocated to the free car do not enjoy an unfair benefit at the expense of those who happen to be allocated to a chargeable car, and therefore all passengers on the trip benefit equally from having a free car. Those drivers claiming a reimbursement receive their actual incurred fuel expenses from the pool.
  • If some passengers are special passengers (typically family members or friends of the driver) they share in the arrangement like Club member passengers. However, since the driver of their car will receive a reimbursement of his/her fuel costs from the pool, the driver can then repay an appropriate amount from this back to the special passenger such that the special passenger ends up paying whatever was agreed with the driver upfront (i.e., in many instances, pays nothing). Again, the Club Treasurer can take these factors into account when doing the fuel calculations.
  • If the special passenger also travels in a free car, and therefore the driver would not receive anything from the pool with which to repay the special passenger, then the special passenger should be excluded from the calculation.
  • Members who use alternative transport to get to a venue (e.g. the train) but who have their boat transported by one of the cars should be considered as half-passengers for the purposes of the calculation, and contribute an appropriate share to the total fuel pool.

Other Club functions

(including communal meals on Club trips)

  • Members or non-members who purchase consumables or equipment for use at Club functions are entitled to a reimbursement of these expenses. The rate of reimbursement is the total cost incurred on behalf of the Club. The Club will pay the amount to the purchaser (on production of a suitable receipt or other evidence of expense) and reclaim an appropriate amount from the beneficiaries. Where it is unclear if expenses may be reclaimed or not, the Club Treasurer will adjudicate. Beneficiaries in the meal etc. should not attempt to settle directly with the purchaser.

In all matters of finance which are not clear, the Club Treasurer should be approached for guidance.