An Extraordinary General Meeting (EGM) of Cycling BC members has been called by the Board of Directors. The meeting will take place online via Zoom on:
Monday, December 18, 2023, at 7:00 PM (PST).
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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.
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. View the proposed 2024 membership fee structure.
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 on the EGM webpage.
We encourage you to visit the updated EGM webpage with the proposed 2024 fee structure and supporting documents as well as register for the event.