• marker2 N48 27.2' W123 17.7'
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Funding Information

Royal Victoria Yacht Club maintains four Racing Funds:

a) Junior Development Fund

b) Intermediate Racing Fund

c) National and International Racing Fund

d) Olympic Fund

The RVYC Annual outlines the administration, disbursement, and principles of the Racing Funds. It contains specific information about each fund and should be referenced by each applicant.

 View the Racing Funds & Wall of Racing Excellence Guidelines below

pdfRacing Funds & Racing Wall of Excellence Rules

 

RVYC Junior Development Fund– expanded guidelines

Introduction

These funds are in place to provide opportunities for our junior sailors to attain their highest goals in the sport. The approval for disbursement of these funds must follow a set of rules to ensure fairness for all and respect for the generosity of the club and its members.

The purpose of the Fund is to promote participation by junior members of the Royal Victoria Yacht Club in National and International yachting events, or their qualifiers, and to financially assist such endeavours. The fund does not support local regattas such as most of the BC Circuit events.

An important consideration for funding is how you represent your club. The expectation is that you will put forward your best effort to attain your goals. This includes being committed to pursuing sailing as an elite athlete, planning your events, training hard, planning your travel and accommodations appropriately and conducting yourself as an ambassador of the Royal Victoria Yacht Club. Failing to represent the club appropriately can result in the forfeiture of funding.

The Racing Funds Standing Committee, as outlined in the annual, administers all racing funds. This committee reviews the applications for funding and decides what level of funding will be awarded. The committee will generally meet twice a year. The spring meeting is to interview applicants, review applications and determine budget estimates. The fall meeting is to review applicants actual receipts, review results, and issue cheques.  A year for funding purposes runs Sept 16 – Sept 15 of the following year.

Approved Expenses

  1. Entry Fees -all event entry fees apply. Most events will apply an additional charge for late registration. It is expected that your planning will ensure that you don’t incur late entry fees.
  2. Travel - it is expected that you will choose the most cost effective means of travel. If you travel as a group, you will be expected to report only your portion of the expenses.
  3. Lodging - cost effectiveness is expected. Many events will have a host hotel that may offer a special rate. Billeting maybe available.
  4. Food - As meals can be somewhat subjective, reimbursement will be on a “per diem” basis. The rate will be $20.00 per day for all racing and traveling days.
  5. Towing expenses – are shared by each boat on the trailer.
  6. Boat Charters - may be the only solution but can be very expensive.

Process for Application for Funding

2016 Funding Template

  1. Use the provided spreadsheet customize it to your event schedule.
  2. Estimate your amounts of approved expenses. Using Excel spreadsheet “Regatta Expenses, Estimates”, insert name, year and estimates.
  3. Write a cover letter giving an outline of your goals, training plan including fitness.
  4. Complete the Application for Funds Side 1
  5. Submit all the above documents to the club office. Attention: Chair of the Racing Funds Committee. Due May 15th annually
  6. Attend the spring meeting where you will be interviewed to review your intentions.
  7. Keep all receipts except for per diem expenses i.e. food as you attend events.
  8. In September, complete Excel spreadsheet Regatta Expenses, Actuals, insert name and year and actual costs.
  9. Write a cover letter outlining your results during the season.
  10. Complete the Application for Funds form Side 2
  11. Submit the actual costs documents to the club office. Attention: Chair of the Racing Funds Committee. Due September 15th annually

How much Funding can I expect?

  1. RVYC will not fund all of your costs. The Fund provides a percentage of approved expenses based on the current available monies.
  2. It is expected that the athlete will cover his or her costs up front and then be reimbursed by the Fund.
  3. The Club will endeavour to send reimbursement cheques by the end of the calendar year.