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Marathon Trust and Sport England. The budget for the build has been
incredibly tight, and you may be aware of a 'crowdfunding' campaign to fit
out the new building. This campaign has been very successful and has met
its initial target, however the original fit-out list did not include some very
high-cost items, such as a PA system, timing system and some additional
buildings in the track centre. De Laune CC has had a strong connection with
Herne Hill for the venue's entire history, so the HH Velodrome Trust
is delighted that De Laune is looking to continue this relationship. HHVT is
a registered charity, and the Velodrome will continue to be managed on a
non-profit basis with significant numbers of volunteers. Even so, the business
plan has to cover ongoing costs including 2.5 permanent employees as well
as a large rent to Dulwich Estate. The benefits to De Laune in respect of
this donation are still under discussion, I will make these known ahead of the

Note 2. Funds that can be distributed to the Committee under Rule 3.2.8
are confirmed on Dec 31st each year. Projections are that the fund will exceed
£10,000, but in case it does not, the maximum donation will be capped at
the lower figure. Additionally, Rule 1.8 (amended April 2013) requires that
any club expenditure exceeding £2,500 must be agreed by a General Meeting.

Note 3. This proposal is covered under Rule 3.5. This meeting may wish to
recommend that an additional sum (perhaps £5,000) may be withdrawn in
order to enable a transfer to the Club's General Fund.

May I take this opportunity to wish you all a very Merry Christmas!

Kind regards,

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