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Post by Admin_Rodney on Jul 18, 2015 11:04:51 GMT
As circulated by David via email 23rd June
We have been discussing the funding of the RAI and have rounded on a number that we believe is reasonable taking the budget that Ciaran produced a few weeks ago. We think that, including the fees already paid (approx. €320) that each member of the team will require €1500 as contribution towards costs.
Don't panic though because I think we can subsidise a reasonable amount of that through fundraising initiatives, collectively or individually. As an example, I will be polling family and friends with the proposition of sponsoring me and 50% of what I raise will be given to charity. If others have other ideas they would like to share please let us know as perhaps we can help each other?
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Post by Admin_Rodney on Jul 18, 2015 11:13:04 GMT
Any thoughts on this ?
We're going to start spending some money in the coming weeks, and there's going to be plenty of money needed in the 'kitty' before we start so as to pay for ongoing operational aspects - most notably fuel and food.
So we need to get our basic income in place, and if Fund-raising goes well then we can see what we do with that ...
1. Unless stated otherwise, we'll take it that everyone agrees with this upfront contribution
2. Value of contribution for now is set for 1500 euros.
3. I guess the simplest way is to transfer this money to the Club Bank Account which is what we all did for the initial Deposits back X months ago.
From early in the Year, these were the details
A. Direct Transfer into the account:
Bank: Permanent TSB
Account Name: St Tiernans Cycling Club
Sort Code: 990620
Account Number: 80018359
SWIFT ID/BIC: IPBSIE2D
IBAN: IE82 IPBS 9906 2080 0183 59
This is the clubs prefered payment method, but please do remember to use your name as the reference.
B. If you have a PayPal account you can log onto your own account and make the transfer directly to the following email address sttiernanscc@hotmail.com also make sure to include your name as a refernce
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Post by daragh on Jul 20, 2015 9:24:06 GMT
Rodney. I think we need to have a serious chat about this.
Excluding the entry fee thats a cost of €1,180
Thats a kitty of €9,440
We've raised €500 from the Table Quiz, €500 in direct sponsorship from Barry. And we also have funds coming from the club.
I expect to be able to raise another €300 in sponsorship.
What exactly are we spending nearly 10k on? Has anyone got a link to the Budget spreadsheet? I would like us to prepare a fairly rigorous assessment of 'real' costs before we propose figures like €1500
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Post by Admin_Rodney on Jul 20, 2015 20:11:43 GMT
No problem Daragh .. i've no particular figure of my own to use.
This was really a case of making sure we have enough money up-front and not to have someone covering for some costs during the event, and then trying to square things up afterwards. Especially in the case of having money to hand for the crew folk for fuel + food etc. I'd be more comfortable with everyone ponying up X euros in advance of any formal or even rough budget rather than the other way around.
And then the last aspect would be by paying some money of whatever level is agreed that is a good sign of "commitment".
I'm still uneasy with the situation that we currently have of 4 "active" team members and 4 not so active members. Bit harsh perhaps?
We're all in agreement that there's more work involved off the road than actually training & cycling so lets all get involved.
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Post by daragh on Jul 21, 2015 8:53:47 GMT
Thanks Rodney
I'll do another estimate based on a pared down version of the budget and post it here. You are right that we will need X amount in hand very soon to start paying for stuff.
KSN PM Funds are in the Club Account - €500 - so if we need to pay for anything urgently ask Adam for a transfer.
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Post by Orna on Jul 28, 2015 6:24:57 GMT
We had a quick with Daragh last night and he said you guys were meeting up to discuss budgets so no doubt there will be an update here in the next few days and we can get money's transferred.
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Post by davebramley on Jul 29, 2015 21:06:22 GMT
Just to say, we'd be very happy to get more involved at this end. Sometimes it can be a little bit challenging to do this remotely and forums, whilst really helpful, don't always help make connections/decisions easily.
Perhaps a weekly teleconference or hangout might work? This could be at a regular time each week for 30 mins, we won't need everyone there and we can work out what needs to be done and who's going to do it?
If others think this would be helpful then I'd be happy to arrange this
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Post by ciaran on Jul 30, 2015 15:00:34 GMT
Myself, Daragh and Rodney met last night to go through the budget again with a view to figuring out what was relevant and not at this stage. We came in at a budget of approximately €4,800 all in. This has some stress in it for food and fuel but it should be noted that we have a question out there regarding insurance for the support vehicles and depending on the answers there might be a cost for this.
Considering the amount of money either raised or pledged thus far we came up with a figure of €475 each. We were thinking that an initial contribution of €200 paid now by transfer to the club bank account with the balance a couple of weeks before the event. This should allow us to buy anything that we require with a lead time now and fund our food and fuel bills later at event time.
I previously shared the budget on One Drive but if anyone did not receive the invitation just let me know and I'll send it on to you again.
If we raise more funding before the event our final contribution will obviously be reduced (or the after show party will be bigger!!)
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Post by daragh on Jul 30, 2015 18:22:45 GMT
For the entry fee we asked everyone to pay into the club account. This made sense as we were paying a single fee to the RAI.
The rest of the funds will be used to pay for expenses etc so should we use a different account? It's not easy to get funds out of the club account as there is no credit/debit card.
Just a thought.
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Post by ciaran on Jul 31, 2015 11:17:47 GMT
It probably does make sense to have it separate to the club account then as we will be requiring to draw it out frequently. The debit card idea is valid too. When the event comes around we'll want a couple of people with ready access to funds. Possibly each pod, the follow and the camper.
We could use one account for now and then disperse to a few of us (crew ideally) for the week of the event. Thoughts?
If anyone has an account with a debit card that they don't really use (or is empty) that might be a idea if not then we decide on one of us to hold the initial money. If this is the case then it should be relatively straight forward to operate receipted accounts until and during the event for transparency.
"the money was resting in my account Bishop/Your Honour'!!
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Post by Orna on Aug 1, 2015 18:13:15 GMT
A separate account with a couple of cards sounds sensible...will transfer cash or hand it over to Daragh what ever you thinks best.
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Post by Admin_Rodney on Aug 7, 2015 21:34:21 GMT
200 euro transferred just now to the STCC Club Account.
I've popped Adam a note just in case he's wondering whenever he next looks at the account what this is all about.
FROM THE TELECONF CALL #1 - WEDNESDAY 5TH ===> ALL SHOULD BE TRANSFERRING 200 TO THE CLUB ACCOUNT, UNLESS OTHERWISE ADVISED BY NEXT WEDNESDAY.
with another payment to go in by the end of August, before we head off...
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Post by daragh on Aug 12, 2015 9:15:06 GMT
I'll transfer €200 tonight.
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Post by Orna on Aug 14, 2015 11:29:35 GMT
Sorry had the cash to give Daragh but he sped off home before I gave it to him, can you email account details and I will transfer ££cash
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Post by ciaran on Aug 17, 2015 19:13:53 GMT
Just transferred now and emailed Adam to confirm
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