Reserves
Policy
The
Scottish Association of Motor Sports Clubs
is a Regional Association recognised by Motorsport UK, being the
governing body of motorsport in the United Kingdom. The Association
represents the interests of its Member Clubs and, inter alia,
facilitates consultation, liaison and discussion between Member
Clubs, Motorsport UK, other Regional Associations across the UK and
external bodies, on matters of mutual interest and concern.
The
Association’s income is primarily from a membership fee paid
annually by its Member Clubs. The amount of this fee is set annually
at the Association’s Annual General Meeting. The majority of income
is received in the period of April to August annually.
Between
each Annual General Meeting, the Executive Committee manages the
affairs of the Association and they have agreed that membership fees
should be maintained at a constant level and in normal circumstances
adjusted only when essential to maintain the minimum level of
reserves for future years. This does not preclude the Executive
Committee from waiving membership fees in full for any year if they
consider it appropriate and in the interests of the Association and
its Member Clubs to do so.
The
aim of the budget proposed annually by the Executive Committee is to
balance, as far as is practicable, income against the normal running
costs of the Association, these being primarily the statutory
meetings of Member Clubs, the Association’s website and other
communication channels, and the expenses related to running
Association championships for certain motorsport disciplines.
The
Association also provides short term bridging funding for training
courses and other training activity held for Motorsport marshals and
officials in Scotland in the name of the Association pending the
reimbursement of said expenditure, or the majority thereof, from the
British Motor Sport Training Trust. It is the view of the Association
that the volunteers, in particular, providing the training, and the
specialist suppliers involved, should receive prompt reimbursement or
settlement of their expenses, fees or charges. The cost of individual
training events varies but the largest can exceed £4,500.
The
Executive Committee have determined that in order to continue
providing this bridging funding while meeting routine expenses,
minimum reserves of £5,000 are required. The Executive Committee
have not determined a maximum level of reserves, but will not support
funding proposals that would lead to an ongoing accumulation thereof.
The
Association will review this policy annually.
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Scottish
Association of Motor Sports Clubs
June
2021