Even Keels Cruising Club Inc (club website example only)
Even Keels Cruising Club INC 9897603 ABN 37599776442
SYNOPSIS OF THE EVEN KEELS CRUISING CLUB SCHEME…PAGE 3/4
The annual operating budget for the club’s catamaran is $32,000 i.e. $4,000 per EK Right. This covers marina fees when the boat is not being used, insurance, professional engine servicing and repairs, professional slipping & antifouling and so on. It also includes a provision for equipment failure.
The annual depreciation charge is based on a depreciation rate of 6.19% per annum on $420,000 which equals $26,000 i.e. $3,250 per EK Right.
Total annual budget is therefore $58,000 i.e. $7,250 per EK Right.
There is also a once-
Note that the above figures apply to the current financial year (2014/15) and may be more or less in subsequent years.
The members participating in a cruise pay for marina fees and fuels, regardless of whether the cruise is in exclusive time or club time. Members can ask friends and family invited aboard to contribute to costs if they wish.
We have chosen a 2009 Fountaine Pajot Lavezzi 40 catamaran, young enough to not have developed old age issues, old enough for initial depreciation to have occurred. It is the Maestro or “Owners” version and one of the very last to come off the production line at Hull Number 222. It has two queen cabins and one double cabin so that 6 people can be comfortably accommodated at a time, to cater for family and club cruising. The boat has excellent bridgedeck clearance and sails exceptionally well, including to windward.
PAGE 3/4