INSIDER REPORT – GBMH’s 50/50 Draw Cost Breakdown
(Posted January 7th, 2014)
Sonny MacDougall - (2013-14 Vice President - Finance & Administration for our Glace Bay Minor Hockey) states that “the success of the Glace Bay Minor Hockey 50/50 draw has provided our association with much opportunity and also with much responsibility”.
MacDougall who is a highly respected businessman and professional chartered accountant has been involved with our hockey programs for a couple of decades. In recent years with our weekly 50/50 Draw growing, our association is very appreciative to have such a qualified and dedicated professional such as Sonny on board, to provide us with his financial administration and guidance. Although much of our credit for the draw’s success may be come from our team of sellers and Sunday volunteers, to his credit Sonny has provided us with his advice and support at every step. The 50/50 draw is operated under the rules and regulations of the Nova Scotia Lottery Commission under a license issued by the Commission. At the annual general meeting of GBMH, all details relating to the financial results of the Association are shared with the members in attendance. We also thought it would be important for all supporters of the Association to understand a very broad overview of the finances of the Association.
Summary of Draw Expenditures: (Picture Details Included)
Glace Bay Minor Hockey sets registration fees each year ranging from $210.00 to $495.00 depending on the age and category of the player. When comparing these fees to other associations it is important to understand what a player receives as part of this fee, which in GBMH includes:
* One practice time per week
* One game time per week
* All referee and timekeeper costs paid for
* Team receives funding of $1,500 to be used for tournaments and or extra ice
* Contribution to provincial tournament should team qualify
* One team fitness session per week
In addition, GBMH provides a full time development coordinator to all teams, hosts numerous skating clinics that are free of charge and has invited in special guests to put on clinics for players, coaches and officials, all free of charge. This is all made possible due to the weekly 50/50 draw.
At the end of each year a registration and equipment rebate fund is created for that year based on the final financial results for the year. This fund is used to rebate the registration costs to the ticket sellers and if they sell sufficient tickets allow them to use some funds to offset the costs of equipment and travelling during the year.
MacDougall who is a highly respected businessman and professional chartered accountant has been involved with our hockey programs for a couple of decades. In recent years with our weekly 50/50 Draw growing, our association is very appreciative to have such a qualified and dedicated professional such as Sonny on board, to provide us with his financial administration and guidance. Although much of our credit for the draw’s success may be come from our team of sellers and Sunday volunteers, to his credit Sonny has provided us with his advice and support at every step. The 50/50 draw is operated under the rules and regulations of the Nova Scotia Lottery Commission under a license issued by the Commission. At the annual general meeting of GBMH, all details relating to the financial results of the Association are shared with the members in attendance. We also thought it would be important for all supporters of the Association to understand a very broad overview of the finances of the Association.
Summary of Draw Expenditures: (Picture Details Included)
Glace Bay Minor Hockey sets registration fees each year ranging from $210.00 to $495.00 depending on the age and category of the player. When comparing these fees to other associations it is important to understand what a player receives as part of this fee, which in GBMH includes:
* One practice time per week
* One game time per week
* All referee and timekeeper costs paid for
* Team receives funding of $1,500 to be used for tournaments and or extra ice
* Contribution to provincial tournament should team qualify
* One team fitness session per week
In addition, GBMH provides a full time development coordinator to all teams, hosts numerous skating clinics that are free of charge and has invited in special guests to put on clinics for players, coaches and officials, all free of charge. This is all made possible due to the weekly 50/50 draw.
At the end of each year a registration and equipment rebate fund is created for that year based on the final financial results for the year. This fund is used to rebate the registration costs to the ticket sellers and if they sell sufficient tickets allow them to use some funds to offset the costs of equipment and travelling during the year.
* This actual percentage table can be used as a future reference as the % may slightly vary from season to season based on the actual sales volume. Annual budget details are disclosed at each AGM meeting which is open to all GBMH association members and the general public.
