The GFA Board met in Melbourne last weekend for our Annual budget meeting. We made some significant decisions at the meeting that are a result of increased costs from external sources, the removal of significant funding from CASA, and the consistent loss of full flying members per year.
Our Insurance costs have increased significantly with fewer insurers willing to even be part of this market, our CASA support funding is reducing by an unknown amount which is expected to be between $24,000-$44,000. The consistent loss of 40 full flying members per year is also part of this equation.
Know major expenditure items include Part 149 (CASA), S2f to future proof us, and an additional cost for the Sporting Development group to reduce membership churn by targeting post solo mentoring, again to ensure a future for us.
To balance this budget, we have reviewed expenditure items and reduced our costs by $90,000, increased the GFA membership fee by $40/year, and given the Executive a target for across the board cost reductions of 5% to take place during the next financial year.
There were many items affected and the budget and minutes of the meeting will be available on the GFA website in the not too distant future.
None of these actions were taken lightly, but prudent financial management is imperative for a sustainable future, in this, our 70th year of successful self-management of the sport.