We need your help. As you might imagine, COVID has had an impact on the operations of the rowing club. Since we last updated you at the AGM in May, our financial picture has changed. A combination of factors has resulted in lower than anticipated revenues and higher than anticipated expenses. The numbers in our youth programs in particular are down as student and parent comfort around sport due to COVID has layered on top of traffic and lack of awareness of rowing in the schools. Our inability to conduct any kind of learn to row, the same COVID concerns, combined with a limitation of boat sizes to being singles up until recently has impacted all of our programs. Thus revenues are down.
On the expense side, while there has been considerable help with the COVID programs from the federal government in the form of loans and wage subsidies, these subsidies ended in October and the loans have to be repaid by the end of 2022. To compound the financial challenge, this has also proven to be a significant year for other expenses. Our insurance rates for boats and equipment increased substantially, and we have had to replace some key equipment.
Over the last few years we have been on a mission to gradually replace our aging safety equipment. The 10 - 11 year old Zodiacs were being held together by patches on patches and were no longer serviceable, and we still had two of these in use but failing. The 60 HP Whaler motor had almost double (!) the recommended hours on it, and over the summer it started to get finicky, meaning it was no longer reliable, so it had to be replaced. The total costs between these essential safety equipment purchases (inflatable plus engine) were around $21,000. The good news is that we now have three good inflatables and a new Whaler motor. We are obligated to loan three inflatables to DCYC in the summer as part of our arrangement with them for wharf space.
Almost two years ago, we added a new equipment levy (6%) to our fees. The levy has raised almost $2,000 this year, but we are still short of funds to be able to pay for this equipment and continue to pay back our federal loan obligations. So, the board has decided we need to ask our members if they can help raise the $20,000 difference.
We are asking those of you who are willing and able, to donate towards these new safety equipment purchases. Money can be donated via credit card through the BC Amateur Sport Fund.
The BC Sport Association has partnered with the BC Amateur Sport Fund to raise funds to benefit our club's capital equipment campaign. The BC Amateur Sport Fund is the BC chapter of the Canadian Council of Provincial & Territorial Sport Federations, a Registered Canadian Amateur Athletics Association with charitable status. You may receive a tax receipt for your donation. Thank you in advance for any support of our safety equipment fundraising campaign.
If you would rather donate using a cheque or donate securities, please contact me and I'll get you the details.
If you have any questions or suggestions, or would like more information, please email me (Wendy Moore, club president) at email@example.com. All donations will be kept confidential, unless you wish it otherwise.
Wendy Moore, president DCRC
On behalf of the DCRC Board of Directors