Extraordinary General Meeting – Dec 18, 2023
New Information, updated as of Saturday, December 16, 2023
1. Updated financial information
In our commitment to financial transparency and in light of information brought to our attention by our financial contractor, we have updated our 2023 year-end projections incorporating financial information available to date. The original information was prepared by management in an effort to meet extremely tight deadlines. The revised 2023 year-end projection corrects errors found in the prior information.
Please note that these updated documents are not audited financials, but the organization’s projections, which continue to be refined on an ongoing basis. These draft documents are only shared for financial transparency and in no way should be interpreted to be those financial statements that we are obligated to provide under s. 35 of the Societies Act. Those will be available in June 2024.
2. Reduced insurance premiums and revised 2024 budget
The original insurance premium increase communicated was based on quotes provided by our insurer in November 2023. After the EGM held in November, the insurance broker came back with an adjusted quote, lowering the 2024 cost instead of increasing it. With that and other new information in mind, management prepared a revised draft 2024 budget which will be further fine-tuned and presented for Board review and approval in January 2024.
3. Updated and newly added member-proposed motions:
As a result of the new information now available, the Board of Directors has made the decision to adjust its path and not increase membership fees for 2024. Indeed, the Board is adjusting its original motion and now asking members to approve a revised membership fee structure that will remain unchanged from 2023. Please note that the proposed membership fee structure for 2024 is available below.
In addition, two new motions supported by the Board of Directors have been put forward by members and will be discussed during the EGM:
– Motion 1: That a Race Committee be formed
– Motion 2: That a Hop On Review Committee be formed
The updated EGM agenda and meeting rules can be found further down this page.
***ADDITIONAL BACKGROUND INFO***
A Cycling BC Extraordinary General Meeting (EGM) was held virtually on Tuesday, November 21, 2023, to vote on the proposed membership dues structure for 2024. As part of the meeting’s proceedings, a motion was proposed, which was approved by a majority of those present, to postpone the ratification of the proposed membership dues until Cycling BC can provide more details.
In response to the motion, Cycling BC has provided additional details on this webpage surrounding the proposed membership dues and will hold another Extraordinary General Meeting (EGM) to be held online via Zoom on Monday, December 18, 2023, at 7:00 PM (PST).
As per Cycling BC’s bylaws, membership dues will be determined annually by Cycling BC Staff, recommended for approval by the Board and ratified by the Members at a General Meeting; the purpose of the December 18th EGM is to present the 2024 membership fee structure and to vote on the proposed 2024 fees based on the information that has been provided.
To ensure that the process is fair, transparent, and that members have ample opportunity to review the proposal in advance of the EGM, where members will have the opportunity to ask questions and seek clarifications, we have provided the proposed 2024 fee structure below along with additional supporting information.
When you join Cycling BC, you're part of a community of cyclists dedicated to growing our sport.
Click here for the full infographic to learn more about what we do.
A modest fee increase is proposed to continue supporting the growth of our sport and ensuring you get value whether you race, ride fondos or simply enjoy a ride with friends.
WHEN YOU…
RACE – you get access to hundreds of organized events, challenging and motivating you to achieve your cycling goals.
RIDE WITH A CLUB – you ride with others who share your passion, make meaningful social connections, and benefit from trained club ride leaders and coaches who can vastly enhance your riding experiences.
RIDE FOR LEISURE – you can ride with peace of mind knowing that you’re protected with accident insurance whether you’re on a solo ride or riding with family & friends.
SUPPORT YOUTH – you ensure the future growth of the sport through grassroots initiatives like HopOn and Club-driven youth programming & encourage future champions through high-performance athlete development.
Proposed 2024 Membership Fee Structure - Updated Dec.16
Membership Licence Type |
2023 Price |
2024 Price (same as 2023) |
|---|---|---|
| Cycling 4 All | $93.00 |
$93.00 |
| Provincial Race | ||
U17 |
$88.00 |
$88.00 |
17+ |
$138.00 |
$138.00 |
| UCI | ||
U13 |
$76.00 |
$76.00 |
U17 |
$93.00 |
$93.00 |
U19 |
$93.00 |
$93.00 |
U23 |
$160.00 |
$160.00 |
Adult |
$188.00 |
$188.00 |
| Technical | $104.00 |
$104.00 |
Cycling BC Member Insurance Coverage
Insurance Coverage |
Amounts |
|---|---|
| Commercial General Liability (CGL) for registered/sanctioned events and activities, including club group rides. |
$10,000,000 |
| 24/7 Ride Accident Insurance while riding anywhere in Canada or the continental USA but treatment must be in Canada. |
$50,000 |
Fracture Benefit |
$5,000 |
Medical Expenses |
$5,000 |
Rehab |
$15,000 |
Insurance Comparison
Cycling BC vs Other Insurance
Membership Type |
CYCLING BC - Cycling for All | CYCLING BC - Provincial Race | CYCLING BC - UCI Race (Adult) | Pedal Power (No competition) | Pedal Power (Accident coverage during competition) |
|---|---|---|---|---|---|
Price |
$93.00 | $138.00 | $188.00 | $121.00 | $144.00 |
| 24/7 Accident | |||||
| CGL - Registered Events @ $10 Million/Occurrence | |||||
| CGL - Personal @ $1 Million | |||||
| CGL - Personal @ $1 Million (purchase from Pedal Power as a Cycling BC member) | $30.00 | $30.00 | $30.00 | ||
| Access to Races/Events/Club Activities | |||||
| Access to Sport Pathway/Category Racing |
Club Insurance Comparison
Cycling BC vs Other Insurance
| Club Coverage: | Price: | Savings: |
|---|---|---|
| Cycling BC @ $10 Million | $200.00 | 92% |
| Private Insurance @ $5 Million | $2,500.00 |
Event Insurance Comparison
Cycling BC vs Other Insurance
| Event Coverage (based on 15 Race Crit-Series with 100 participants per race) | Price: | Savings: |
|---|---|---|
| Cycling BC @ $10 Million | ||
Minimum (eg. grassroots series) |
$500.00 | 97% |
Maximum (AAA sanction, eg. Nationals @ $625/race) |
$9,375.00 | 47% |
| Private Insurance @ $5 Million | $17,625.00 | |
| Average Cost per Race - Private Insurance | $1,175.00 |
Additional Member Benefits
Cycling BC members can also save hundreds of dollars through Cycling BC’s member benefits programs with our community partners who offer exclusive Cycling BC member discounts on a wide array of cycling-related products and services, including:
- 20% off at NOBL Wheels
- 15% off Samsara women’s cycling apparel
- 40% off FLY Racing products and apparel
- 15% off at Nomad Frontiers online bike shop
- 15% off Doma
- 35% off Bracelayer compression gear
- 40% off Mountain Lab Gear
- Free Evo Car Share Membership + 45 minutes free (over $50 in value)
and more!
Additional Insurance Info
Currently, your Cycling BC membership includes all of the following insurance items below.
- Ride Accident insurance covers injuries and medical expenses such as physiotherapy, resulting from a bike accident while riding anywhere in Canada—including both sanctioned and non-sanctioned bike riding activities. This coverage also includes a fracture benefit with a cash payout of up to $5,000, depending on the injury.
- General liability insurance coverage of up to $10,000,000 per occurrence of any Cycling BC member alleged to have caused bodily injury or property damage (to a vehicle, for example) to a third party—during sanctioned Cycling BC races or Cycling BC affiliated club group rides only.
- Errors and Omissions insurance covers certain lawsuits alleging purely economic damages arising out of the performance of a Cycling BC member—this coverage is most applicable to coaches, team managers, directors, etc.
- Access to discounted pricing for Director’s and Officer’s Liability insurance covering lawsuits ranging from allegations of wrongful acts, to financial mismanagement, to errors in judgement and negligence—this coverage is most applicable to the board of directors of a club.
- A 10% early bird discount on the proposed 2024 membership fee will be available until January 7, 2024.
- A 10% family discount will be applied to families purchasing licences for a minimum of one adult and two children (under 19) who are all living in the same household. Licences must be purchased at the same time.
EGM Timeline:
Nov.28, 2023 – Notice of EGM
Dec. 5, 2023 – Last day to send notice of any new business to the Board
Dec. 8, 2023 – Agenda and Meeting Items sent out
Dec. 11, 2023 – Notice of Proxy Vote appointment required
Dec. 16, 2023 – Proxies due to admin@cyclingbc.net
Dec.18, 2023 – EGM
Meeting Documents:
Dec 18, 2023 EGM Agenda and Meeting Rules (PDF)
Dec 18, 2023 EGM PROXY FORM (PDF)
