You may have recently heard or read about the challenges many Calgary community associations are facing to keep afloat during these difficult times. Your community association is not that different than most others, in that facility rental and programming revenues are needed to cover our regular operating costs. The occasional casino revenue (every 18 months or so) is used to cover operating shortfalls and help build our capital base. We have refunded all of our 2020 soccer registration fees as well as prepaid rent from our various user groups, so our monthly revenue is down to almost zero.
Your board is playing close attention to our financial situation, and our current cash position is sufficiently healthy to allow us to keep our operations, as limited as they presently are, continuing. We applied for, and received, a $40,000 interest-free loan from the Federal Emergency Business Account program, of which 25% is forgiven if repaid by December 31, 2022. We are also eligible and have applied for the 75% wage subsidy for our staff, which is presently our largest monthly overhead cost. We are also paying close attention to our other monthly costs.
So, why are we undertaking a major rink board renovation this summer instead of conserving our cash? Capital grants and volunteers are the answer. The City of Calgary’s Capital Contribution Program covers 75% of the costs of replacing end of life cycle assets. We have received approval and confirmation of 75% funding for both our outdoor rink and court rehabilitation needs. Our rink and chain link fence were decades old, falling apart in sections, and the rink refurbishment was sorely needed.
We have also applied for both provincial and Calgary Parks Foundation grant funding to help cover our 25% share of the capital costs. We have a dedicated core of rink volunteers, many of whom also help keep our rinks running in winter, who put in a couple hard weekends’ effort in the first couple weeks in May to demolish our rinks and shaved a few thousand dollars in costs from the construction bill.
We will also be embarking on a creative Charitable Donation/Rink Board Advertising program in the coming months, where charitable donations through the Calgary Parks Foundation (where donation receipts will be issued) will receive thanks by rink board advertising on our rink boards and tennis fencing. Stay tuned!
When our building eventually reopens, it will be more important than ever to support our many user groups who offer a wide range of services and activities to our many residents. And of course, buying or renewing your annual membership helps us keep in touch with you, entitles you to a voice in your community association, and many other member benefits.
In the meantime, stay well.
Don Boykiw
