Financial Policies

 

Budgeting and Revenue Allocation

29 May 2013

 

Sidney Anglers' sources of  revenue are:

 

• Annual membership dues

• Members’ contributions through draw tickets, entry fees and donations.

• Advertisements in the Tide Book

• Tulista Park Boat Launch User Agreement with the Town of Sidney

• The Annual Salmon Enhancement Fundraiser and any other fund raising where it has been stated in advance that profits would be dedicated to a particular purpose.

 

Sidney Anglers' uses of funds are:

 

• Prizes for club derbies, attendance draw prizes and social event prizes.

• Operations expenses

• Fish habitat and fishing promotion and lobbying

• Habitat restoration and salmon enhancement projects

• Gifts to charities

 

There are currently no provisions in the Sidney Anglers’ constitution for revenue allocation controls or budgeting. It will be appropriate in the future for the SAA Executive to prepare a budget (that conforms to revenue allocation guidelines consistent with the principles of the BC Societies Act, Income Tax legislation and the expectations of the parties contributing the revenue) each year for approval of the members at the September general meeting. However, funds allocated to salmon conservation, habitat restoration and enhancement must not be less than those raised with that understanding. Revenues from the Town of Sidney, the Tide Book and other club earnings may be used for operating expenses and any purpose that advances SAA's declared objectives, but must not financially benefit individual members.

 

Salmon and Angling Enhancement Expenditures

 

Whether funds are earned through SAA members' work on the Annual Salmon Enhancement Fundraiser, or from their efforts at the ramp or soliciting advertising for the Tide Book, we wish to achieve as much salmon, habitat and angling enhancement as our limited funds will allow. It is not as simple as adding the maximum number of smolts into the ocean in the short term. Some stocks are of greater survival concern than others, and there is the objective of enhancing stocks that reside in or transit through Sidney Anglers' local area, providing local angling recreation, food fisheries for First Nations and benefits to the local and broader economies.

 

Fortunately, with SAA's particular geography, the protection of stocks of concern and local angling objectives tend to coincide. While returns to West Coast Vancouver Island hatcheries have generally been good, Cowichan and Goldstream chinook stocks are of concern—leading to seasonal closures in our local area for the last several summers. The same can be said for several Fraser stocks. It remains to achieve the greatest possible value from the funds we can raise. This should be best achieved through focusing on value-added through the volunteer efforts of our members on such initiatives as the net pens, and through supporting the volunteer efforts of associated organizations.

 

This logically leads to a priority hierarchy for what we fund:

 

1. What SAA does directly for salmon enhancement (for example, purchase food for smolts in our net pen);

2. Contributions to other voluntary organizations for salmon enhancement and angling advancement projects directly affecting fish or fishing locally; and

3. Broader initiatives to support endangered runs that travel through SVI waters.

 

Then there is a hierarchy of  predicted results:

 

1. Will directly cause measurable improvements that would definitely not have happened without SAA's funding;

2. In partnership with others, is expected to cause measurable improvements; and

3. Eases the burden on and provides support to others engaged in salmon or angling enhancement but is not expected to cause a distinct and measurable incremental increase.

 

Finally there must be evaluation: What did SAA's contribution actually achieve? A Committee of SAA members is appointed by the Executive to assess candidate expenditures, evaluate the results of past expenditures, and report to the SAA membership through the Executive. Any application for funding submitted to the Executive is referred to the Committee for evaluation. Final decisions are made by the membership on the basis of the Committee's recommendations.