WWC COVID-19 BULLETIN #8

Dear Valued WWC Members,
 
The Board, working hand in hand with our Management Team, continue to analyze the Club’s financial position and monitor all expenses throughout this difficult time, responding to conditions as necessary.  Ultimately, the Board has a fiduciary responsibility to protect the Club and be a good custodian of the assets. This is our duty to all of the members/shareholders.
 
WHAT WE HAVE DONE THUS FAR:
 
WWC staff have largely been reduced down to a minimal number of essential administrative and maintenance people; staff in positions such as the front desk, locker rooms, child services, junior lounge, trainers, and some maintenance staff have in fact been laid off.  

Provincial regulations and our insurer require certain staff be maintained.  An example of this, our Ammonia Plant requires us to have an Engineer on site to comply with insurance and security requirements. 

We are taking full advantage of the Federal Government’s CEWS program which is contributing significantly to the wages of the Club staff that have been retained. This has resulted in further reduction in operating costs and in turn, we are able to offer a 33% reduction in fees to members (member retention credit).  

All told, the Club has left no stone unturned in cutting operating expenses - we have achieved a $70,000 reduction in monthly expense which includes deferral of our mortgage payments.

Despite laying off staff, reducing operating expenses to the bare minimum and benefiting from the Canadian Emergency Wage Subsidy program, other operating costs are still incurred and must be paid for by the member-owners.   
 
The practices that we are employing are the same practices that our reciprocal clubs across the country are adhering too. Private Clubs such as the Winnipeg Winter Club are member owned and the members indeed fund Club operations.  
 
The Board and Management recognize that the challenges and individual circumstances will vary within our membership.  In addition to providing some across the board relief by reducing membership fees by 33% for April-June, our General Manager has been instructed to work individually with members experiencing extreme financial hardship to arrange for a payment plan. The Board understands and appreciates the need to provide as much relief as possible to individual members with an overarching goal of retaining membership, while balancing the need to fulfill our fiduciary obligation to protect the Club and its member-owners at large. 

We are all in this together, and thank you for your support.

Sincerely,

Your WWC Management Team and Board of Directors

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