As required by BC Hockey Bylaw 906, please CLICK HERE for the 2021 - 2022 BC Hockey Operating Budget as approved by the Board of Directors on January 28, 2021.
The budget will be reviewed as part of the financial report at the 2021 BC Hockey Annual General Meeting (AGM), and in advance of that presentation please note the following background to key items contained in the document:
Principles and criteria within our budget process:
- Build break-even budgeting for our programs.
- Reduce redundancies whenever possible, strive for efficiency in operations, and transparency with financials.
- Incorporate strategy into our budgeting and operations.
Three (3) most significant items to note:
- We have reduced wages by 862K. Our ability to do this was due to staffing reductions done during the 2020 year-end due to COVID-19. We have the ability going forward to keep staff levels smaller and only add when the demand is there. We now can build programs around what staff we need rather than use programs to cover staff costs.
- AAA League expenses have increased by 789K due to the projected cost of ice, bussing and travel due to COVID-19. The honorariums have also increased in three (3) of the four (4) programs to bring equality, and to ensure our volunteers are being reimbursed consistently in all ages and gender programing. This has increased the costs of these programs, as they are run on a break-even basis.
- COVID-19 has created uncertainties, we have built this budget to be conservative, it has interest and funding from Hockey Canada reduced based on current market conditions and interest rates. While we are seeing increase in costs for ice and travel that we do not anticipate will go back to pre COVID-19 amounts.
If you have any questions regarding this notice or the attached budget information in advance of the AGM, please contact Chief Financial Officer Jen Cheeseman at firstname.lastname@example.org.