3. You should now be hearing sound Welcome to this webcast

4. What YV does – Webcast January 2009 By Ross Kilborn CEO on behalf of the Board, Staff & Committees of YV.

5. Overview Background Membership & Affiliation fees The Value YV delivers

6. Membership & Affiliation Fees

7. Membership of YV Clubs are members of YV not individual persons (except Honorary Life Members) Class Associations are eligible to be Associate Members All explained in the YV Rule 7 – (The Rules are on the website in the section for Officials under the Club Manual s6) All members of affiliated clubs are entitled to a YA silver card which recognizes their club membership and provides some benefits including personal accident insurance

8. Racing Sailors must be Club Members The Racing Rules of Sailors require all sailors who participate in a race to be a club member –Rule 46 – the skipper for all races –Rule 55 – for all crew after 3 races Sailors, and all club members, are registered in a national database called MyClub for the silver card to be issued. It provides –A YA number for entering events etc –A password for maintaining your personal records via a web tool called MySailor.

9. How fees are paid ? Fees paid by Member Clubs make up around 20% of YV income (after allowing for the fee YV pays to be a member of YA) In 2007 Clubs adopted a method of fees being paid by member clubs based on all Member Clubs being allocated to one of 9 categories – each paying a level of fees varying from over $90,000 per year for A + down to $515 for a category F Details of this are explained in –YV Rule 12 –Section 6 of the Club Manual

10. Common Questions – from Clubs Q. How were categories established ? A. In 2007 an extensive exercise was undertaken to gather data from clubs and rank them. (the data required is listed in rule 12 (e) ). Clubs had a period to object to their suggested category. Q. What if we now object to our category or that of another member club ? A. Each year clubs have the option to “protest” by October 31 for the next season by providing the required data.

11. Common Questions from Club members Q. Do I pay the same as members of other clubs ? A. How clubs fund their membership of YV varies so this is a difficult question to answer. For many clubs the cost of YV membership is not itemized on the members account. Q. What if I am a member of more than one club ? A. Clubs agreed in introducing this new category system that as it is the club that mainly benefits from YV membership, members may contribute at each club they belong to.

12. Other questions on fees ? Q. How does an Association pay ? A.Associate Members do not need to pay to be a member so long as 60% of their members are also club members. If not they pay the lowest category level. Q. Has this new system changed the total fees from Clubs that YV receives ? A. No – excepting normal CPI type increases.

13. The End – thanks