Special General Meeting Motion

Motion to Special AGM

 

That Clause 14.5 of the constitution is altered to change the financial year from

 

“ Oct 1st  to September 30th   the following year ” to “September 1st  to August 31st               

the following year”

 

Rationale

Currently the majority of payments for subscriptions and club sponsorship packages occur during September, the last month of the financial year, when the revenue collected rightly belongs to the new financial year. To date to assign these revenues to the year they apply the funds are accrued in suspense accounts until Oct 1st. This is an accounting complexity that creates extra work for the Treasure and is better if it can be avoided.

To remove this anomaly it is recommended that the financial year begins on September 1st and ends on August 31st the following year so the payment of subscriptions and sponsorships fall in the financial year that they apply to without the extraordinary financial accounting.

The change will have no effect on the subscription year and this will remain as October 1st to September 30th

Additionally the change will allow more time for the audit of the club finances and the provision of the financial statements for the Annual General Meeting. Currently there is only 6 weeks to complete this and the timeframes are only met by treating the process with urgency.

Another benefit of the change is that the majority of expense on the course generally occurs September to April and the new proposed financial year fits the annual maintenance and project cycle into a single financial year.