Latest News: Forums Racing National Circuit Series Re: A lesson in Economics

#7794

The UKWA has, for a number of years, been spending more money than it receives, and our rainy day reserves have gone. The main reason is the significant decline in membership, which Bob Tarn referred to at the AGM. The deficit in 2008 was £6000 plus, I think.

Therefore, the EXCOMM which you elected last year has been looking at ways of raising additional income, and a levy on UKWA racing events was one proposal that we looked at.

Currently, a club hosting an UKWA National Circuit Series event can expect to generate an income from entry fees of £400 (based on 20 boats at £20 each). This is before income from catering and the bar is added on (and the bar profits for a two-day Wayfarer event can be significant!).

A UKWA National Championship should generate an income of between £2800 and £3200 for the host club and the catering and bar income may be even more significant.

Then there is the publicity and prestige of hosting a UKWA national event – all our events are promoted on our web site and reports are posted in Yachts and Yachting.

Yet, currently the UKWA receives NO income from its own events.

However, Michael McKechnie indicated at the AGM we are prepared to have another look at the issue of the levy, and we accept that our communication with the host clubs has not been good on this occasion. As usual it’s more a case of a cock-up rather than a conspiracy and we took our eyes of the ball on this one. Apologies.

Regards
Steve