As we announced in January, due to the unusual nature of this season, the Board made the decision to deferral all memberships over to next season. No action is required on your part.
Some members have informed us that they would like to invest their current 2020/21 membership back into the club to help with our finances. We sincerely thank those members who have made this choice. If you would like to do so as well, please email email@example.com by March 31st.
The club is financially stable and can withstand this unexpected year. However, for this fiscal year (ending April 30th) we will be showing a hopefully “once in a lifetime” sized deficit. This is mostly due to having to delay recognizing the revenue from all of the deferred memberships until next fiscal year. In addition, even without running any programs, the club has a number of hard costs such credit card charges, insurance premiums, costs associated with the club house (which will be reduced as of April 1st when move to a virtual setup), costs associated with IT, and the required financial review by our accountant, etc..
On the upside, the club will start the 2021/22 fiscal year with a significant balance of membership revenue already on the books and are very optimistic that membership will boom next fall with many of those who sat out this season, lapsed members, and new members all joining the best adult travelling ski club in the GTA (if not the country!!).