Trust Board Meeting, 30th August 2010
Venue: Novar Bar, Kirkcaldy
Present: Alan Russell (AR), James Proctor (JP), Steven Lawther (SL), John Mainland (JM) & Tam Cunningham (TC)
Apologies: Blair White (BW), Graham Condie (GC) & Tom Phillips (TP)
Minutes of the Meeting on 26 July 2010
The minutes were approved.
Matters Arising
Action Points:
Treasurers Report
With GC unavailable JM provided a brief update.
Action Point GC – With the club board discussing the restructuring of the clubs companies, GC is to find out what the implications are for the Trust. GC to provide an updated balance sheet for circulation and comment.
Membership Update
BW was unavailable however provided the following information:
1. We have 176 members.
2. 83 of last year’s members have still to re-join
3. Of the 176 members, 98 pay by standing order. To a certain extent we have to take some of this on trust as some people have indicated that they will be setting up SOs. The more people that pay be SO the better, but keeping track of them is not straightforward (especially the £5 SOs on an annual basis).
Couple of observations:
1. Checking some info from Graeme to try and reconcile some PayPal transactions. I noticed that the details of 5 people, who had joined via the Trust website, had not been sent automatically to me. i.e. they had paid to join but I was completely unaware of it. I was under the impression that when people joined through the website I rec’d a copy of the details? Is that the case? BW has now included these people as members but it’s 5-6 months after they joined…
2. As far as I can see, only 2 members have re-joined for 2010/11 via the website. That seems to be a quite low figure – I think I was expecting more – again, I’m concerned that the details of re-joiners are not being forwarded to me.
Regarding the next stage, BW will be sending out a reminder letter to the 83 by the end of Sept/beginning of Oct. This is to simply to indicate that there are still a fair number of people who have still to re-join (last year a considerable number re-joined after the reminder letter). If there is a Director election, we presumably want our membership to be at its greatest.
Raith Trust Communication Issues
SL provided the following report:
RRFC Holdings Ltd. AGM
AR reported:
At the RRFC Holdings AGM the accounts for the last two years were presented and approved, very straightforward as there were minimal changes in the accounts in this period. The main item of business was regarding the inter-company loans between RRFC Ltd, RRFC Holdings, and New Raith Rovers. Since the formation of Holdings and NRR, any new investment has been made in these two companies, and the money transferred to RRFC Ltd as a loan. Approximately £700k of inter-company loans has built up since 1994, and a proposal was made (and approved unanimously by the RRFC Holdings shareholders present) to allow these loans to be converted into RRFC Ltd shares. A similar proposal will be put to the shareholders of NRR at its AGM in September. IF approved, and the loans are converted to shares, Holdings and NRR will own approx 87% of the shares in RRFC Ltd, which would make any future restructuring of the companies, e.g. combining them into a single company, a more straightforward exercise.
AOCB
With no further business the meeting closed at 9:06pm.
Date of Next Meeting
27 September 2010 to be held in the Beveridge park Hotel if it is free.
