NOTICE  OF  SPECIAL  GENERAL  MEETING  
A Special General Meeting of the Mairangi Bay Bowling Club will be held in the clubrooms on Saturday, 28 April 2018, commencing at 9.00am.  

The following items will be on the Agenda for discussion and consideration.  

1]  Appointment of two New Life Members.
The Board has received two nominations for new Life Memberships and unanimously supports the nominations.
a] Phyl Humphries nominated by Jean Ashby.
b] Rex Redfern nominated by Bruce Aley [on behalf of Peter Andrews].

The Constitution requires these nominations to be considered at a General Meeting and that a Special Resolution be voted on by members by secret ballot before being conferred.  

2] Replacement of Campbell Green.
There has been considerable discussion by the Board about the need to replace our carpet green.

The Board has accumulated sufficient data on this matter to now put this to members. Because of the cost involved in this project the Board requires the consent of members to proceed further.

Eligible voting members will be asked to vote and support the following Resolution to enable the Board to proceed with this major project.  

RESOLUTION
‘That members grant the Board approval to proceed with the replacement of Campbell Green’.

Attached to this Notice are two documents. One is a summary of the club’s current financial position and how the Board sees it going forward and the other is a commentary on how the Board sees the project being funded.

We hope these documents help to understand the financial implications the project will have.    
Colleen Rice Secretary.

Campbell Green Replacement 26-3-18.docx

campbell green replacement 26-3-18.pdf

MBBC Campbell Green Replacement Financial Projections 26-3-18.xlsx

MBBC Financial Projection after Replacement Campbell Green.
Cash held as at 28/2/18 259363
Plus Additional income Financial year ended 30th April 2018 (as per budget) 12755
Less Additional Expenses Financial year ended 30th April 2018(as per budget, excl Depn) -21125
Estimated Net Cash Position 30th April 2018 250993
Campbell Green Replacement Costs
Tiger Turf $181758 quote + 10% contingency say 200000
Geotech report & Project supervision 20000
Legal fees 5000
Estimated total cost 225000
Costs Funded as follows
Club Funds 120000
Members loans 40000
Grants 65000
Total Funding 225000
Impact on Club Finances going forward
YE April 2019 YE April 2020
Cash at start of year 250993 129993
Plus Members loans 40000
Plus Grants 65000 15000
Plus Estimated surplus (cash profit for year) 5000 5000
Less Campbell Green Replacement Cost -225000
Less interest cost on members loans -2000 -1500
Less interest on $120000 of club funds spent -4000 -4000
Less Loan Repayment -10000
Cash at end of Year 129993 134493

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