I assume £130k of the £269K figure was the money raised by the cash funder when the club went into administration. I too welcome this information & am pleased the numbers are holding up well. However I still think a monetary figure of what has actually been received in the last month from the 1,131 members would give us a better indication of what is currently being received monthly.
I think this is a fair point. It’s difficult to ascertain how much 1,131 contribute. At a conservative average estimate of £10 per person, that’s generating £11,310 per month (or £135,720 per year). It’s good to know how much is being contributed (£108k in 2020), but does that mean VIQI has the difference (say) £27k in the bank? Also, VIQI does have equity in the club (1 share).
Sorry James, i really don’t know what some of you want from them at all. Do you want to know exactly how much each individual pays; its as if you don’t trust them. You have made a fine calculation which i think is much higher. Try 500 x £10 plus 500 x £15 and 131 x £25, this equates to £15775 per month or £189000 per year, a fantastic amount. There are more people paying in to this scheme than some clubs see coming through the gates. We should be singing its praises not looking for reasons to go into more detail
Singing its praises and asking for transparency aren't mutually exclusively things, of course it's a great success. It's not about trust either - I have no doubt that Jason does what's best for the club. We've just come out of the back of the most dire situation in the club's history.
Ultimately, the 1,131 people are paying in to something that has a share in Widnes RLFC and a place on the board, so why shouldn't they have a say on, for example, who is elected to the VIQI board, given that these are the people who decide what to do with the money that the 1,131 people are putting in every month?
I don't think we need to know particularly how much is going in month to month, but maybe an annual position of what's come in, what's gone out, what's left etc to be issued to those who are members would be a step forward (maybe via an AGM as per supporters groups at other clubs).
But on that argument shouldn't those who contribute more have a bigger say!
The further down that path you go the thicker the mud gets. It ain't broke so don't fix it!
If we can't trust our VIQI custodians it fails. Over a thousand supporters trust them, including you and I, and there is no indication on here that they can't be trusted so let them get on with it.
f we can’t trust our VIQI custodians it fails. Over a thousand supporters trust them, including you and I, and there is no indication on here that they can’t be trusted so let them get on with it.
It is not about not trusting anyone on my part. I just think it would be useful when a statement is issued to state the current income as a total for the previous month so all donors can see the current state of play.
No problem with that!
I just hesitate when folk want a say in the team organisation based on a sub to VIQI.
I totally agree with James and dont understand why Martin has a problem with what James and others are asking.
I have been critical of the lack of an update on the numbers, so was very pleased with the update given and agree it is a really positive story for both the scheme and the club it supports. Was good to hear they have followed up on members who have left and hopefully we will see an increased push for new members. I think they have done a fantastic job.
I do agree a further few details would have given the full picture though rather then still leaving open questions. Monthly income/ any expenses and current bank balance.
Also how are the donation decisions made? Does the scheme now need to offer up ~£50k every 6 months for the club to actually run? or is a decision made as and when more funding is required? Is it split between an ongoing general donation and then other 1 offs for certain players? Does VIQI agree with the club what the money goes on? Hopefully it all goes directly to helping what happens on the pitch.
I think it would be good for the VIQI committee to meet with its members on an annual basis to outline the full financial picture, discuss what the committee has been doing, how they have made decisions and get some of the members views which they can then represent back to the club (if agreed by the committee).
Keep up the great work and I hope it continues to gain new members and begin to grow further as it really does differentiate us from other clubs.
DLM