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FINANCE, BOWLS, CATERING

  

Dear All

Financial Position

On the 16 July a newsletter was distributed setting out the financial position of BIBC Ltd and the membership arrangements for the coming year commencing 1 September 2021.

Not sure why, but queries to the administrative staff seem to suggest that some members are reluctant to join because ‘we might go bust if we don’t get 500 members’.

This couldn’t be further from the truth.

Before the pandemic we had 650 members, but in the July newsletter I said that if we attained a membership of 400 in September (currently 270) we could restrict the annual loss to £30k and with 500 members we might just about ‘split even’.

And we also had reserves of about £100k; so with 400 members we would still have reserves of £70k left at the end of the 1st year post pandemic.

I also mentioned one further glimmer of hope – I was still negotiating with our insurers on business interruption insurance valid during the first lockdown. I have agreed an interim payment of £26232, but am still arguing for a little bit more in relation to forced closing times for the bar/catering facilities.

We are not going bust in the foreseeable future – our reserves would last for at least 3-4 years even under the worst scenario giving us plenty of time to adjust expenditure.

Bowling and Opening Arrangements

Other queries to staff about membership have been about these. 

As some of you might have seen, because of a lack of volunteers at the Club AGM, I have agreed to organise the leagues for next year. Yesterday, I began contacting former captains, asking if they are still going to be one, whether they think they still have a team, etc, etc.

We intend to run a full programme of leagues, like that up to 2019/20, commencing on Monday October 18th.

As for opening arrangements full winter opening hours will start on Monday 20 September. From 1 September the Club will be open and staffed from 9 am to 5pm on weekdays and 9 am to 12 noon on Saturdays and Sundays. Furthermore, from 1 September, to allow for workers, the club could be open (but not staffed) by prior arrangement on a Thursday evening until 10:30 pm.

And don’t forget we now have a fresh air system operating alongside the air conditioning/heating units.

Catering Arrangements

The new franchisee has taken over the catering with a great selection of drinks and meals. They are open for you to use right now.

 

Geoff Boyd

Finance Director

 2nd October 2021.