Insurance, Annual Fee, Business Plan
AMSA & Shed Insurance
Shed Annual Affiliation 2021
Shed Annual Affiliation Fee ($20) – A year ago, the Shed’s committee introduced an annual fee of $12 to cover about half the cost of the annual insurance that has to be paid for all members ($23 last year). The other half of the insurance was to come from the weekly contributions of a coin paid on entering the Shed meeting. Corona Virus then intervened and we went for 7 months or so without a meeting or any contributions. As a result, the insurance payment has hit the Shed’s finances harder than expected. This year, all members are asked to pay an annual fee of $20. It will partly pay for the annual insurance charge, which is expected to be at least $24 per head. The $20 is now due. The preferred method of paying is by EFT to the Shed’s account, which will minimise the work required by our Treasurer (Paul Taylor) in keeping track of payments. The Shed’s bank account details are:
Bank: St George BSB: 112908 Account no: 429515699. Include your name on the transfer. It is also possible to pay by cash; see Paul Taylor.
Weekly contributions – The current method of collecting funds via the tin next to the sign-on sheet will remain in place. These weekly contributions are our major source of income. They pay for our ongoing commitments (rent, electricity, coffee, pizza etc) plus the balance of the insurance not covered by the $20 levy. Covid has resulted in a huge increase in card transactions so obtaining change has become a bit of a problem at times. An alternative to paying weekly would be to work out how much you would pay during the year and make a one-off EFT payment of that amount into the Shed’s account (or make quarterly or half-yearly payments).
Shed Annual Affiliation Fee 2020
Dec 2019 – Shed Insurance – The Shed’s committee discussed insurance issues at the first meeting of the new committee. Insurance has been paid on the basis of 55 members, which was a generous estimate of the average attendance each week. However, there are now over 100+ members on the books and some attend only a couple of meetings a year, which means they contribute very little to the insurance.
After carefully considering the issues, the committee decided that every Shed member should pay an annual affiliation fee of $12, which will partly pay for the insurance of about $19 per head. It has the advantage of clearly identifying those who are covered by the insurance, in the event a claim is necessary (some non-members participate in Shed activities, such as cycling). The insurance covers public liability for the Shed and members while they are engaged in Shed activities.
The annual fee will become due at the start of each calendar year, which gives the Shed time to collect it before the insurance premium has to be paid in April. Ideally, members will pay by EFT but it will also be possible to pay by cash. It will be named a “Shed Annual Affiliation Fee”.
The fee is due at the end of Jan in the future. The preferred method of paying is by EFT to the Shed’s account, which will minimise the work required by our Treasurer (Paul Taylor) in keeping track of payments. The Shed’s bank account details are: – Bank: St George BSB: 112908 Account no: 429515699. Please add your Initial and Surname to the reference area. It is also possible to pay by cash; see Paul Taylor. It is important to note that the current method of collecting funds via the tin next to the sign-on sheet will remain in place. These weekly contributions are our major source of income. They will pay for our ongoing commitments (rent, electricity, coffee, biscuits, pizza etc) plus the balance of the insurance not covered by the $12 levy.
We use the AMSA provided insurance policies.
Details of the Feb 2019 – Feb 2020 policies, some 2021 items and related information are below. Firstly read the FAQs. It would seem that most of our activities are covered including exercises, bike riding, walking, excursions and even public BBQ fund raising. However some things are not. Note the public liability policy excludes coverage for caving, abseiling, rockclimbing, hunting and use of live ammunition, and zorbing, etc
You must seek medical assistance and use Medicare services before seeking any insurance claims through the Shed policy
The first 3 items below cover items of interest to us. Note the first is an extracted version of Items 9 & 10 from the FAQ below it
AMSA Insurance FAQs – ver 6 2020-21 This is a key document that answers most of your questions. Its sections 9 & 10 provide the summary above
Folder of AMSA Policy Docs 2019-20 – Note these are all hard reading
On the 9th Feb 2015 the Shed was advised by Yvette Berry that the ACT Government had approved a grant to the Shed. It as $5,700. It was be used to buy a new laptop to be used for presentations etc plus provision of secure storage and storage shelves at the back of the room under the overhead screen. It was also used to part fund purchase of a modern large screen TV and miscellaneous items
The Shed was successful in receiving a small grant of $2,500 from the Federal Government round of Volunteer Grants for 2009. These funds were used to purchase an overhead projector and screen for use by Shed members and visitors