Several members have been asking about the refund methodology and the Board’s estimate of 50% when only about 1/3rd of the season was completed.  The Association does not run on a “for-profit-basis” and as such, the objective this season is to ensure all costs for the year are covered and provide the largest possible refund to our members.

Nevertheless, the Association really only has two variable costs, Ice & Referees, all other costs are for the most part ‘fixed’, so in an on and off season like we had, ice and referees will have a much lower cost while all other costs will still need to be incurred and will experience significantly smaller reductions, if any.

As you can see in the chart below, the reduction in Ice costs from budget were approximately 71%, as would be expected with only about 1/3 of the season completed, however as a result of the shortened season, all other costs only experienced a reduction of 9% or less, therefore resulting in a refund closer to 50%.

Please note that the purpose for providing this estimated refund was to indicate directionally to our members their financial position prior to them committing to the Optional Development Program, and the final refund may increase from this initial estimate as costs are being finalized.  As always, a detailed representation of the finances will be presented at the AGM.

2020/21 ESTIMATED COST REDUCTIONS DUE TO SHORTENED SEASON

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