Please find attached a 5 year plan for discussion during the AGM on Tuesday, 7.30 at the club. It is proposed that in future this plan will be updated and become a rolling 5 year plan presented to the AGM each year. The upcoming yearís planned expenditure will then be put forward for approval at each AGM. So, this year we will ask the members to approve the plans for 2018/19 (detailed on page 4 of the plan).
On the front sheet, you will find the assumptions used for the plan followed by the anticipated revenue and costs for each year. We have attempted to include all the likely significant maintenance, development and fixed costs and then worked back to determine the needed subscription fees and other income sources to fund these. (Thanks to Doug and Judith for the vast majority of the work on this). We have also tried to err on the side of caution when estimating costs and revenue
You will note that we have assumed constant membership numbers which is consistent with recent years. I would hope that with the new monthly membership option and more marketing we will beat this, but we havenít so far done so. Increased membership and increased use of our courts is a key goal we should be aiming for and could provide some upside on the revenue estimates. It is possible that some costs may be delayed. For example, the grass court surfaces may last longer than projected as has happened in the past but we should plan for their life time being as projected when installed. On the other hand, it is also possible that there will be unforeseen costs in the near term, if for example, the squash court roof starts to leak.
We have included a 5% annual increase in membership fees to fund these club development.While this is above inflation, this amounts to approximately £12 per year for an adult member or £24 for a family membership this coming year i.e. approximately £1 or £2 per month. We have looked at the fees of other nearby similar clubs and our subscriptions and court fees will still be competitive. An alternative approach would be to raise court fees significantly.
Under this plan we will be able to pay for all likely club maintenance items without recourse to borrowing money or obtaining grants, as has been necessary in the past. However, the cost of a new clubhouse entrance and indoor access to the outside courts is not included. Under the assumptions within this plan, we will need to raise either loans or grants from, for example, Sport England and Mid-Sussex to build the new entrance. It is unlikely we will obtain grants for all of this cost so we should also expect to partly fund it ourselves. In the recent past, we have borrowed or obtained grants to fund, for example, the poraflex court surfaces so it is not unreasonable to do this and the cost of loans should be affordable. Doug is working hard on planning permission, costs and possible sources of external funding for the new entrance. The plan will need to be updated once the possible funding and timing become clearer.