VMCC in serous financial trouble

[John Wakefield]

The VMCC is reported to be in debt to maybe £100k http://www.southwalessectionvmcc.co.uk/notices/hq.pdf I understand that members are being asked to vote on a various proposals including the possible winding up of the club. Why does this concern the GRA? Because the GRA in their constitution would donate our archives to the VMCC in the event of the winding up of the GRA. Clearly the committee need to review this asap.

[AndyB]

That's not actually the case John. At the moment, the VMCC has quite a lot of cash, but if they continue to make losses at the present rate, they will use it all up in just a few years. The members are being asked to vote on various options for re-organisation in order to prevent this from happening.

[John Wakefield]

That's not actually the case John. At the moment, the VMCC has quite a lot of cash, but if they continue to make losses at the present rate, they will use it all up in just a few years. The members are being asked to vote on various options for re-organisation in order to prevent this from happening.

They are certainly in a dire situation, income not matching expenditure but thats their problem, my point was to highlight that GRA need to look into the situation as to what they do with archives etc if GRA was ever dissolved.

[AndyB]

That has already been discussed within the GRA committee who are keeping a watching brief. Obviously if the VMCC ceases to exist, then the GRA's archives would not be able to be donated to them, and another trustworthy recipient would have to be found. The GRA is in a much more stable financial situation at this time than is the VMCC!