March 13th Update - Credits
Submitted By Sarah Geer
on Saturday, March 13, 2021
Hello Bear Families,
Our board has reviewed our finances and budget for the 2020-2021 season. As always, a final budget will be provided at the AGM when our fiscal year ends.
As you may or may not be aware there are many parts of the budget that had to be paid regardless of how much time the kids actually saw on the ice. Items like jerseys, socks, OMHA fees, insurance, equipment, certification of our coaches, trainers and managers, not to mention administrative costs such as bank fees to name a few. The only part of the budget the association did save was regarding ice time. The association has determined that we are able to provide a credit of $100 for Cubs & Initiation players who were expected to be on the ice once a week and a $200 credit for other players who were expected to be on the ice twice weekly. Given the number of players we had this year this breakdown will be returning $63,100 back to families, which is a little over half of the ice budget.
As a board with a lot of new members, working in a year that was anything besides typical, there were ups and downs from our original budgeting. We were able to save in some areas from our original budget. These amounts add up to approximately $12,000. Unfortunately, we also had areas that we over spent, due to circumstances beyond our control or there were items not included in our original budget. These amounts add up to approximately $11,500. Therefore, we are not in a position to refund other amounts of the budget as there was no true savings. A more detailed breakdown of the final budget will be reviewed/provided at the AGM as per policy. A new budget for the 2021-2022 season will also be proposed and reviewed at that time.
We will also be providing all of the volunteer credits to those that volunteered for our shortened season. We appreciate all the time and energy that was put into giving our kids the best hockey season while working to maintain all of the provincial, health unit and arena policies and restrictions.
In the event, you would rather have your season credit or volunteer credit paid out by etransfer instead of being applied to your player’s account, please notify the Registrar, Kristy Bonitatibus, at [email protected] by March 31, 2021. If a request is not received by this date then your credit will be automatically applied to your player’s account. Also, please note that in the event you request a payout, a $3 administrative fee will be applied to cover the associated banking costs.
In the event that you have a balance owing on your account currently, the credit will automatically be applied to that balance first and only if there is a surplus amount after that can a refund be issued. We will not be accepting registrations for the 2021-2022 season unless your account is paid up to date. Should you have any questions on your account balance, please contact Kristy at [email protected].
Thank you for a short but enjoyable season. We hope to see you all back out on the ice in the fall.