Dear Members,
At the recent June Board meeting, VGC Directors reviewed the issue of membership subscriptions for the upcoming year. After detailed consideration, the Board determined that all membership categories (excluding Junior & Sub Junior categories) will be increased by 5%, rounded up to the nearest $5, from 1st September 2023. This increase equates to $74 per annum for 7 day members (or $1.42 per week) and a proportionate lesser amount for other membership categories.
The Board noted that membership subscriptions had not increased in the previous 4 years and whilst the club’s financial position has improved over this time, the escalation in both wages cost over the past 2 years (of 10.35%) and the increasing cost of good & services purchased by the club (Brisbane CPI of 7.4% in the last year to March 23) necessitated the 5% increase in subscriptions for the upcoming year such that these increased costs, which are expected to continue to rise over at least the next year, do not become a future impost on the club’s trading profitability.
In reaching this decision, the Board also noted the comparative strength of the clubs current cash and balance sheet situations but also that these reserves were required to protect the Club against any future unforeseen shocks as occurred with flooding event in 2022. Should the Club experience a similar event in the future, repairs will need to be met from club resources as we are no longer able to purchase flood related insurance cover, with potential repair and remediation costs of a similar event being in the vicinity of $700K.
Green fees for all non-member play at VGC will be increased by an approximate 10% from 1st September to also assist in mitigating the increasing costs of Club operations. Prices for non-member play were also increased by approximately 15% in September 2022.
Subscription notices will be sent to members before the end of July with payment due by 31st August unless a prior payment arrangement has been agreed with the Club’s General Manager.
Greg Seaborn.
President
