18 July 2017: Following an extensive review of the Finances of Chess Scotland, at the Council Meeting (March) and Management Board Meetings (April and June) Chess Scotland the following amendments and Fee increases are to be implemented effective with the membership renewals from 1st September 2017.

The Chess Scotland finances can no longer support activities at the current rate of expenditure. The loss of financial support from the government grant in 2014 has been a major contributing factor in the depletion of our reserves.   To address this, we will be making changes to the financial models of Chess Scotland, Membership classes, Fees, Magazine and services provided. Chess Scotland can no longer build finances around Sponsorship or Investors. These options, although being explored cannot be guaranteed, and can be withdrawn at any time and at short notice. The base financial model must be stable and allow Chess Scotland to match income and expenditure as well as building sufficient reserves to cover unexpected/unplanned events. It is also preferable that we achieve a stable membership fee structure that requires minimal increases to membership costs in future years.

CS Management Board

Financial Structure pdf

Posted on: 18-07-2017
Categories: News