Page 32 - BBHAC Winter 2017-18 Gazette

32
Norman Park Community Sports and

Recreation Facility Business Plans

Update as at March 2018
have been prepared to support a “normalised” income i.e.
In recent times there have been the proposal and this is outlined removing exceptional items of
significant developments in below. As negotiations with both income and expense. We
the ongoing project to move the both the Council, Developer have consolidated these figures
Club’s Headquarters from and Purchaser of Bourne Way and then identified potential
Bourne Way to Norman Park are ongoing this communication additional costs and savings
after it was resolved in 2015 that focuses on the major assump- from one larger facility at Nor-
this would be the way forward. tions, approach and conclusions man Park. We have also built in
Late in 2016 the steering group derived from the plan. We will additional revenue streams from
managing the project were in be happy to review the detailed the enhanced facility. Based on
conference with an architect about plan with Club members this we have derived a forecast
a proposed plan which would following the meeting with annual income and cash flow.
deliver a site well equipped to see the Architect & Developer on
the club move on into the 21st March 15th. 25 Year Cash Flow Projection
As well as maintaining the new
century, and hopefully generate
extra income in forms that the Approach facility the Club will also assume
responsibility for maintaining
present clubhouse could not. Moving to a new facility at the athletics track. The major
Norman Park will integrate all
After this was revised and scaled the Club’s activities into one lo- costs here relate to relining,
respraying and replacing the
down the architect together with cation and involve merging the track periodically as well as re-
developers put together another Club and Norman Park Track placing pole vault and high jump
proposal to re-develop the site at Management’s activities. Nor- beds plus the shot, discuss and
Norman Park. There would be man Park Track Management is hammer cage. Thus we have to
certain obstacles to overcome and the company currently running ensure that our annual surplus
requirements to fulfil but by the Norman Park on a contract from operating the combined
late following winter the prospects from the Council. It is a com- track and sports & recreation
of commencing the project were pany limited by guarantee, i.e. it facility will cover these periodic
getting brighter. At a meeting of has no shareholders, and its di- costs. We have projected ahead
the Trustees on March 5th 2018 rectors are all club members. It 25 years because this is the life
the following business plan was is proposed that it will become of the track itself. At the end
proposed a subsidiary of Blackheath & of 25 years we should be in a
Bromley Harriers AC. All fig- position to ensure that the track
ures are based on constant 2018 and building are in an “as new”
Introduction £’s as it is assumed inflation will state. (Note: A 25 year projec-
One of the key issues in impact both costs and revenues tion is just that - a projection - to
deciding to sell Bourne Way equally and an earlier less con- demonstrate that if everything
and invest the proceeds in an servative version of the Business stays as assumed we are able to
enhanced sports & recreation Plan was reviewed and approved cover future cash demands).
facility at Norman Park is to by independent consultants on
ensure the Club can financially behalf of the Council.) Summary of the Business Plan
afford to operate and maintain and Cash Flow Forecast
the new facility. We have to Annual Income
ensure we can afford to run the The business plan is based in Annual Income
new facilities and generate suf- taking the financials for the (a) Combining the current
ficient funds to cover the sub- Club (BBHAC), the House annual incomes of BBHAC,
stantial periodic maintenance, & Social Committee (H&S) H&S and NPTM, less the
refurbishment and replacement and Norman Park Track Council Grant currently re-
costs. A detailed business plan Management (NPTM) for the ceived by NPTM, amounts
and 25 year cash flow forecast past 5 years and establishing to nearly £20k.