Regeneration fund

[Byways1]

Does anybody know what is happening in regard to this?

[gshaw]

Should be up over £200k with interest the time it's been sitting there

[Byways1]

Now that we have the best owners the club has had in some time wouldn’t it be a good idea to put the money to good use.
Helping disabled supporters would be a good start.

[o-no]

Think the money can only be spent as per the rules laid down when it was collected. Owners come and go, I’m happy for the money to sit there in case of emergencies in the future

[Rich Tea Wellin]

Put it behind the bar on Saturday

[Byways1]

Think the money can only be spent as per the rules laid down when it was collected. Owners come and go, I’m happy for the money to sit there in case of emergencies in the future

Rules can be changed.
It makes no sense to be sitting on 200k (which is peanuts) when comes to running a football club.
Far more sensible to find a way of using the money to help the people who contributed to the fund.

[RBMarshall]

We know the other clubs that supported us generously. Put it behind their supporters clubs bar, that would be the gentlemanly thing to do.

[StillSpike]

I put my cash into the fund on the basis that if it wasn't needed to save the club it should be kept for the day that it might be. Which is what rules of the fund were at that time.

We might not always have benevolent owners (much as we all hope we will). If you want a piss up, stick your hand in your pocket.

Keep (forever if necessary)

[gshaw]

I think if it's being kept long term LOFT should disclose how it's being invested to make sure it a) gets a return on the cash sitting doing nothing and b) that it's safe from loss e.g. split between banks as it's well over the FCA payback limit should anything untoward happen

[Thor]

Agree with everything Stillspike said and Gshaw, both spot on in their points and comments.

[Byways1]

I put my cash into the fund on the basis that if it wasn't needed to save the club it should be kept for the day that it might be. Which is what rules of the fund were at that time.

We might not always have benevolent owners (much as we all hope we will). If you want a piss up, stick your hand in your pocket.

Keep (forever if necessary)

As I said before, 200 k is peanuts and would barely cover a years rent.
If the club got into trouble again it would need a rich benefactor to bail us out,
As it did last time.
Far better to look at ways of using the money more productively.
Maybe invest in the youth team?

[Lady Luck]

Should be up over £200k with interest the time it's been sitting there

Over £60k of £179k raised was reclaimed by the people who donated it (under the terms agreed when the fund was set up). So it's much less than that.

[gshaw]

Should be up over £200k with interest the time it's been sitting there

Over £60k of £179k raised was reclaimed by the people who donated it (under the terms agreed when the fund was set up). So it's much less than that.

Wow never knew that, learnt something new today there

[Byways1]

Well just over 100k then.
No point leaving in the bank doing nothing.

[A Pedant]

Should be up over £200k with interest the time it's been sitting there

Over £60k of £179k raised was reclaimed by the people who donated it (under the terms agreed when the fund was set up). So it's much less than that.

Wow never knew that, learnt something new today there

We reported as such at our AGM in December - and published the figures in our AGM report at http://www.leytonorientfanstrust.com/st ... Chosen=466

I think if it's being kept long term LOFT should disclose how it's being invested to make sure it a) gets a return on the cash sitting doing nothing and b) that it's safe from loss e.g. split between banks as it's well over the FCA payback limit should anything untoward happen

The fund is split between accounts in two separate banks to ensure it is 100% safe under the Financial Services Compensation Scheme limit of £85k. Yes it is earning credit interest.

I put my cash into the fund on the basis that if it wasn't needed to save the club it should be kept for the day that it might be. Which is what rules of the fund were at that time.

We might not always have benevolent owners (much as we all hope we will). If you want a piss up, stick your hand in your pocket.

Keep (forever if necessary)

This, 100%. LOFT is in a probably-unique position among supporters' trusts in that we have an insurance policy against future trouble at the club - and yes, I know that £117k doesn't do much to run a football club the size of Leyton Orient, but that's not what the fund is for. It's an emergency fund to help get the club out of a future crisis scenario (which I sincerely hope never happens) and as such it's a starting point in case further fundraising is ever needed for such a scenario.

Until such time as LOFT members decide to change the fund mandate from being an emergency fund as described above, the fund will not be spent on anything else.

[CreamofSumYungGai]

Wise words

[Byways1]

And when do you Plan to ask the members whether we still agree with the original mandate?
We can’t change the mandate unless you give us a vote.

[A Pedant]

And when do you Plan to ask the members whether we still agree with the original mandate?
We can’t change the mandate unless you give us a vote.

At the AGM in December 2018, and every AGM in future. As it says in the AGM report I linked above.

[Thor]

I think A Pedant is spot on in what he says and in his final paragraph says it will not be spent on anything else which I think is the right thing to do.

[Byways1]

And when do you Plan to ask the members whether we still agree with the original mandate?
We can’t change the mandate unless you give us a vote.

At the AGM in December 2018, and every AGM in future. As it says in the AGM report I linked above.

So.a show of hands then.
Normally about 50 people turn up for these midweek AGMs.
Wouldn’t it be better to have a postal vote so all the members can
Have a vote?
A show of hands is a bit like a 1970s BL meeting.

[Winchesterfan]

Surely there are more important matters than what is happening to £100k+ donations that were made to save our club. Like the majority of those who contributed I trust LOFT to look after it and I have no wish for my money to be 'used behind the bar' or anything else. Also many of those who gave are un-contactable. They gave to save the club and would, I am sure, be horrified if it was used for some frivolous cause. It's a rainy day fund which, hopefully will never be needed but the sensible thing to do is to slowly increase it, if the right opportunity arises. I'd happily make a small annual subscription to this by DD as I am sure would many others.

[Dunners]

And when do you Plan to ask the members whether we still agree with the original mandate?
We can’t change the mandate unless you give us a vote.

At the AGM in December 2018, and every AGM in future. As it says in the AGM report I linked above.

So.a show of hands then.
Normally about 50 people turn up for these midweek AGMs.
Wouldn’t it be better to have a postal vote so all the members can
Have a vote?
A show of hands is a bit like a 1970s BL meeting.

Or, if people feel so strongly about it, then they can get off their backsides and attend.

[Byways1]

At the AGM in December 2018, and every AGM in future. As it says in the AGM report I linked above.

So.a show of hands then.
Normally about 50 people turn up for these midweek AGMs.
Wouldn’t it be better to have a postal vote so all the members can
Have a vote?
A show of hands is a bit like a 1970s BL meeting.

Or, if people feel so strongly about it, then they can get off their backsides and attend.

The vast majority have better things to do like working for a living and haven’t got the time or means to attend midweek.

[BoniO]

So.a show of hands then.
Normally about 50 people turn up for these midweek AGMs.
Wouldn’t it be better to have a postal vote so all the members can
Have a vote?
A show of hands is a bit like a 1970s BL meeting.

Or, if people feel so strongly about it, then they can get off their backsides and attend.

The vast majority have better things to do like working for a living and haven’t got the time or means to attend midweek.

Well as it appears that "the vast majority" of interested individuals is just you then it doesn't seem much of an issue does it? Next!

[mildandbitter]

Surely there are more important matters than what is happening to £100k+ donations that were made to save our club. Like the majority of those who contributed I trust LOFT to look after it and I have no wish for my money to be 'used behind the bar' or anything else. Also many of those who gave are un-contactable. They gave to save the club and would, I am sure, be horrified if it was used for some frivolous cause. It's a rainy day fund which, hopefully will never be needed but the sensible thing to do is to slowly increase it, if the right opportunity arises. I'd happily make a small annual subscription to this by DD as I am sure would many others.

I agree with this.