Royal Victoria Yacht Club maintains four Racing Funds:
a) Junior Development Fund
b) Intermediate Racing Fund
c) National/ International Racing Fund (Discrentionary fund via RFC)
d) Olympic/ Paralympic 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. The bylaws surrounding the funds are the guidelines of which the final authority is applied.
View the Racing Funds & Wall of Racing Excellence Guidelines below as the Racing Funds Committee also administers the wall.
RVYC Junior Development Fund– expanded guidelines
These funds are in place to provide opportunities for RVYC 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 these Funds is to promote participation by 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 and “local” events in neighbouring regions. To qualify the event must incorporate a spirit of higher performance or regional/national/international competition. The Intermediate fund is to assist “bridging the gap” between youth sailing and higher pursuits such as appropriate worlds, International Games such as the Olympic Games. Pursuits that are not intended to pursue next steps are better funded through the National International discretionary fund administered by the Racing Fleet Committee.
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 except for the National/International which is administered by the Racing Fleet Committee. These committees review the applications for funding and decide what level of funding will be awarded. The Racing Funds Committee will meet twice a year, as a minimum. The first meeting (Date TBA) is to meet applicants, review applications and determine budget estimates. The fall meeting is to review applicants actual expenses, review results, and issue funding. A year for funding purposes runs October 1st – Sept 31st of the following year. This follows the clubs financial year and can be challenging as your peak event may fall into the subsequent funding block.
- Entry Fees -The committee considers the early entry fee as appropriate. It is expected that your planning will ensure that you don’t incur late entry fees.
- Travel - it is expected that you will choose the most cost effective means of travel. If you travel as a group or family, you will be expected to report only your portion of the expenses. Using points to travel the committee will look at normal flight costs for that time as equivalent. Business or First Class is not considered most cost effective unless proven as such.
- Lodging - cost effectiveness is expected. Many events will have a host hotel that may offer a special rate. Billeting maybe available. Sharing accommodations is encouraged. Only the individual athlete’s costs will be considered if travelling as a group or a family.
- Food - As meals can be somewhat subjective, reimbursement will be on a “per diem” basis. The rate will be $40.00 per day for all racing days.
- Towing expenses/shipping costs– if shared should be each participant portion of transportation
- Club Expenses – are the charges allotted by the club for team attended events as these are not broken down on club statements? The sailing office does supple the committee with breakdowns.
- Boat Charters - may be the only solution and do qualify for funding.
- Others reasonable costs are discussed and may or may not be approved.
Process for Application for Funding
***Funding Spreadsheet is available from the sailing office and should be used and submitted in an editable format for the committee to compile the data.
For the Spring
1. Use the provided funding spreadsheet to customize it to your event schedule.
2. Estimate your amounts of approved expenses. Using the Funding Spreadsheet. (Ensure name, year, class and estimated costs are filled out)
3. Write a cover letter giving an outline of your goals and 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 Annually.
For the Fall
6. Attend the spring meeting where to review your submission and introduce yourself.
7. Keep all receipts except for per diem expenses i.e. food as you attend events.
8. In September, complete Funding Spreadsheet with name and year and actual costs and submit electronically in a editable format. Attach/submit receipts physically or electronically (preferred)
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
Post Funding Received
Write a thank you letter to the club care of the Funding Committee Chair
How much Funding can I expect?
- RVYC will not fund all of your costs. The Fund provides a percentage of approved expenses based on the current available monies.
- It is expected that the athlete will cover his or her costs up front and then be reimbursed by the Fund.
- The Club endeavours to send reimbursement cheques by the end of the clubs fiscal year, Sept 31st or as close to that date as possible.