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Significant funding was raised to get the new pavilion built (about £1.8m
       from Sport England and the London Marathon Trust), however there have
       been some cost overruns on this that need to be met in other ways. This is
       not unusual for projects of this size. While a much-publicised crowdfunding
       campaign also raised £89,000 recently to cover fitting out the pavilion, the
       various rules that govern this type of campaign mean that a large VAT bill
       is payable, even by charities. Also, they needed to be cautious of how they
       set their target: If they had included high-cost items such as the PA system
       and then not met the target, then the pledges could not have been collected.




       If we decide to donate the full £25,000, then this is a fraction over 10% of
       the current Fund value. We will continue to administer the remaining assets
       as  before,  which  is  to  make  75%  of  the  annual  income  available  to  the
       committee. The procedure for withdrawing any of the capital remains difficult
       and  lengthy,  involving  two  general  meetings  as  we  have  seen,  numerous
       committee discussions, as well as careful thought and negotiation to make
       it attractive to both sides.


       I have no plans to repeat this process any time soon, and as a Trustee of
       the Fund, I’m keen to see it continue. Any other proposals would have to
       undergo all the same scrutiny.






       Indeed it is, and I want that to continue but consider this: The Fund can only
       exist as a memorial, provided the Club also exists. The March 19 th meeting
       explores how to make sure our decline does not continue, otherwise there
       might be no Club to remember these people, nor to benefit from the Fund. I
       see  this  donation  as  an  important  opportunity  to  build  our  profile  and
       reputation as a main player in the South London cycling scene. It will give us
       visibility at the core of this community for many years to come.







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