1. Separating Capital Costs for Transparency
   We understand that the purchase of new boats is not solely for Nationals, but this remains a large capital investment. Even if not formally separated in accounting terms, we suggest that the Board publish a clear breakdown of how much of the proposed fee increase is allocated to capital reserves vs. operational costs. We would also welcome a yearly review of this so clubs can be assured that once major capital costs are covered, they are not built into ongoing fees unnecessarily. 
   Answer: After the AGM, the Treasurer sought reassurance that the fees proposed were accurate. One club treasurer came forward with a review of the figures (based on the actual financial accounts) and arrived at the same conclusions that the Aoraki Treasurer had. The Capital Reserve (Capital Levy) Fund accounts for 25% of the Annual Fee. This is actually reviewed each year as a matter of course but is of course driven by the amount of assets that Aoraki actually owns. For it to be reduced, Aoraki would need to divest itself of all the assets it owns otherwise the cost will always be there as the assets deteriorate (through use) and require replacement.
2. Phased Fee Increase Option
   Given the size of the proposed increase, and the financial pressure many clubs are already under, we ask the Board to consider a phased increase spread over two seasons. Alternatively, if this is not feasible, could the increase be split between operational needs and capital contributions, with a set timeframe for how long the capital portion will remain in place?
   Answer: Last year the increase in fee proposed was $1,045 but following objections, it was reduced to $175. So the phased increase is actually already happening. If the requested fee increase had gone ahead last year, the increase that would have been proposed this year would have been $430 (or 9.5%). As per the previous answer, as long as Aoraki have assets, capital contributions will always be required. 
3. Boat Repairs — Updated Clarity
   Requested In the finance report, boat repairs are listed as a contingent liability with an estimated cost of $10-20,000. In your response, it was acknowledged that quotes hadn't been sourced at the time, but with repair work now starting, we would appreciate a clear update on the actual cost or quote now available. This will help members better understand the urgency and impact on reserves.
   Answer: The fibregalsser is still working on the first four boats and until he has finished these we will not have any clearer picture of what the final costs to get the fleet up to scratch will be. However as soon as we have some confirmed information we will let the community know.
4. Clarification on Representative Team Fees.
   Regarding our earlier comment about representative team members, we were suggesting that those who represent the region at Nationals might contribute more directly toward related costs, rather than spreading these costs evenly across all clubs. We welcome discussion on whether this is practical or fair. 
   Answer: We looked at our allocation of costs again, and have now removed elements of what was Costed to the "Regional Expense" heading. The only elements that should be charged here are the Nationals Entry Fees and any training associated costs - all other costs should be apportioned amongst those actually Selected for the Representative teams. 
   Note: prior to the EGM, we will email out a revised format showing the regatta costings, with and a separate table showing the adjusted organisation costs (moving the costs previously charged to Regional Team). 

We hope that the responses to your questions have provided more clarity for your committee and club.