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Members’ Information Meeting 11 th August 2009

Members’ Information Meeting 11 th August 2009. Contents. Purpose Background Finances Membership Next Steps. Purpose. Open discussion/no decisions Revised Strategy Members’ views Seeking input Management Committee. Background. Strategy document 2006 Changed economy

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Members’ Information Meeting 11 th August 2009

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  1. Members’ Information Meeting 11th August 2009

  2. Contents • Purpose • Background • Finances • Membership • Next Steps

  3. Purpose • Open discussion/no decisions • Revised Strategy • Members’ views • Seeking input • Management Committee

  4. Background • Strategy document 2006 • Changed economy • Membership – reduction in members • Intermediates upgrading • Develop new framework/strategy

  5. Finance • Historical trends • Current year • Forecasts/assumptions • Inter-club Comparisons • Cost management • Long term funding

  6. Finance continued Historical trends

  7. Finance continued Current year

  8. Finance continued Forecast -Assumptions • Operational breakeven • Subscriptions • Green Fees • Overheads • Bank funding

  9. Finance continued Forecast

  10. Finance continued Financing Models • Balance current income and current expenditure • Development projects funds by new entrance fees • Funding current income from all income • Current income and entrance fees • Development financed by borrowings/capital levies • Total annual costs divided by number of members • Variations of the above

  11. Finance continued Cost Management • Wages & Salaries • Forecast saving €28,500 from 2008 • Payroll costs represent 55% of total costs • Course • Save €21,994 from 2008 • Management of greens • Unavoidable costs due to weather conditions etc • Levels of authorisation for significant cost items

  12. Finance continued Cost Management continued • Administration • Save €10,000 from 2008 • Renegotiate all supplier contracts • Sourcing of alternative suppliers • Bar • Save €15,000 on last year • Flexible work practices for staff • Reduced staff costs to match decreased turnover levels • Stringent stock control

  13. Finance continued Long Term Funding continued

  14. Finance continued Long Term Funding • Bank Position • Refundable levy • Development expenditure • Entrance Fees

  15. Membership • Retention • Recruitment • Category changes • New categories

  16. Membership continued • Age Profile • Encourage juniors/intermediate • Intermediate → full • Family Membership • 5 day/associates upgrade offer

  17. Membership continued Age profile

  18. Membership continued Entrance Fees • Current level - €14,500 • Intermediates – 50% discount; spread over 10 years • Connected persons – 1/3 discount

  19. Membership continued Entrance Fees • Leave as is • Reduce • Remove • Increase discounts for family members

  20. Membership continued Discounts/timing of payments • Spread payment of entrance fee • Discounts on subscriptions • Reduce subs for under 40s • Reduced sub for older members

  21. Membership continued Incentive/rewards for new membership • Reduced sub for introducer • Welcome package for new members • Survey of recent new members

  22. Refundable Levy • Amount/annual outflow • Current outstanding €1.3m • Over 10 years €130K per annum • Over 20 years €65K per annum

  23. Refundable Levy Options • Set-off – family members; green fees; etc • Raffle • Subs offset – age category • Sinking fund • Status quo

  24. Next Steps • Management Committee • New Strategy document • AGM?

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