Dear QBC members
Thank you to all the members who participated in the survey. I am very pleased to present to you a summary of the survey and the comments made by members. The statistics and comments are attached for your information.
We had a participation rate of over 50%. Most of the members responding are in the 55 to 64 year age group (42%). It is pleasing to see that we have almost 10% of youngsters in the 25 to 34 year age group. No matter which age group you are in, the committee is dedicated to ensuring that the right decisions are made for the longevity of the club.
Not surprising though, 25% of our surveyed members are female and 75% male. Some observations from the recent QBC events indicate that the ladies enjoy a dress up day at the races and others liked the casual dress day. Therefore, we plan to have at least one or two premium events each year so everyone has the opportunity to dress up or go casual to the races.
The response to ‘whether we should reduce the number of functions so we can preserve the club’s viability for longer’ (48%) and ‘the club should put on more functions even if means additional cost’ (38%), is mixed. The committee is considering 4 low cost to members’ events per year with any additional events being 80% cost recovery.
When it comes to ‘how do you think the club should invest its funds?’ a clear majority (70%) said that they would like a moderate strategy. The committee plans to ask members at the annual general meeting their views on investing $500,000 to $750,000 into a managed fund http://www.cooperinvestors.com – please check them out before the annual general meeting so you can help us make an informed decision about investing QBC funds. The balance of the funds will stay in a term deposit with the Bank of Queensland. Clearly, a holiday rental property for members is an unpopular suggestion with 73% of the members’ surveyed saying no to the idea. A few members suggested investing in a racehorse. A member in the know said that the easiest way to lose money is to buy a racehorse, so I guess we’ll have to forego the dream of owning a Black Caviar or Buffering for now.
In other feedback, members were concerned about the membership being capped at 135 members. Members would like to bequeath their $25 membership to their family or where memberships lapse, existing members recommend others for consideration to be appointed as a member. The Deed of Agreement between the Brisbane Racing Club and the Queensland Bookmakers Club has certain requirements that apply until 30 June 2025. Unfortunately, bequeathing or transferring membership to family members or friends is not allowed under the Deed of Agreement.
Additional memberships up to the cap of 135 are available; however, these memberships are at the cost of $880. We will offer these memberships to our members’ family and friends once we finalise the 2016/17 membership.
If you have any other questions or comments, please contact me via email on firstname.lastname@example.org. I am happy to talk with you over the phone – please email me first so we arrange a mutually agreeable time.
President, Queensland Bookmakers Club