Continued from page 24 Second, the AGM will be able to assist us in communications. Members have long asked CCR to communicate better. This is another one of the AGM’ s strengths.
Third, a club like ours always needs a succession plan. Remember, our change Boards change every year. So, if the board constantly changes and the General Manager leaves or gets sick, a club can quickly lose its way. That’ s where an AGM can step in and keep things running smoothly as an interim General Manager until the next GM is hired by the Board.
Finally, the AGM is not paid from the Resource Fund.
Why don’ t we just use volunteers to save money? We do. But volunteerism has decreased drastically at Canada Creek Ranch, as it has a similar clubs across the country. Look at your local Eagles, Moose Lodges, VFWs, Rotaries, Booster Clubs, etc. These organizations, too, are always looking for volunteers.
The data from research organizations shows that many of the younger generations are already donating much of their time to children’ s athletics, recreational clubs, and other organizations. These individuals believe that TIME is more valuable than MONEY. Therefore, younger generations are more willing to spend money to have these things done rather than volunteering to do them.
Let’ s get back to the Resource Fund. How long has CCR had a Resource Fund? On the September 2002 Proxy, the membership approved the creation of the Resource Fund.
Why was the Resource Fund created in 2002? The Resource Fund was created for the receipts from the lease of gas and oil rights. All gas / oil receipts were allocated to this account. When this was established, 25 % of the income was used to subsidize the Operation Fund, 15 % was allocated to the Endowment Fund, and the Board may use the oil depletion allowance for conservation expenditures. All remaining revenues could be used for extraordinary expenses such as environmental projects, new capital assets, major repairs, and professional fees.
Prior to the 2022 Bylaw change of fund allocations, what was the Resource Fund used for? The Resource Fund in 2022 transferred a lot of money out to pay for the fields, food plots, fish plantings, and more. These items were all indirectly paid by the Resource Fund, through the Operating Fund. The 2022 Bylaw revisions untangled the web of robbing Peter to pay Paul. Prior to the 2022 revisions, the Resource Fund also subsidized the other funds:
1. Twenty percent( 20 %) of the net income from gas and oil receipts were transferred to the Operating Fund to subsidize operational dues.
2. Sixty percent( 60 %) of the net income from gas and oil receipts were transferred to the Capital Fund to subsidize capital dues.
3. The oil depletion allowance was transferred to the Operating Fund to subsidize conservation expenditures each year.
4. Fifty percent( 50 %) of the annual net income of the Resource Fund investments were transferred to the Capital Fund to subsidize capital dues.
These amounts equate to all the transfers that were seen throughout the years on the audit financials. Ultimately, the natural gas revenues and the Resource Fund revenues helped keep your Operating and Capital Dues lower.
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