Loco Purchase Pre-Approved Spend Amount
David Price has suggested an addition to the 2025 AGM agenda
Rather than have an open online discussion a better approach will be for the committee to discuss this option and should a change be approved then add it to the agenda for ratification.
I would like to propose a "pre-approved spend amount" for the purchase of locos. A few months ago, Nigel missed out on a large loco collection while he waited for committee approval of the spend. If we had a pre-approved spend amount (perhaps up to £10k) then he can act very quickly in future negotiations. Obviously, the approved amount can be reduced at any time by Eric, should the club's financial circumstances change.
Discussion points
The current OOLS Club Loco Sales Policy document provides for in depth tracking of loco purchases but does not have any references to finance amounts or limits.
https://www.oolivesteam.com/_files/ugd/7d542b_b2b724d59d8f4444b46937fef5bed284.pdf
Loco spend is controlled via the Treasury Policy & Rules document, section 5.
https://www.oolivesteam.com/_files/ugd/7d542b_5fa66b300c804a7788d22ef53cf881bd.pdf
5. Committee members may request approval to make purchases using available funds in the Club bank account that are deemed necessary to maintain or improve the running of the Club’s assets and to replenish stock in the Club Shop.
a. For approval, and to complete a request, the following system shall be used:
b. The purchaser contacts the treasurer with details of the intended purchase and to request an order number.
c. The purchaser posts an intention to make a purchase, with its details, on the Club forum Committee section where an objection may be posted if deemed warranted by any committee member
d. After a period of 24 hours the purchaser may place their order providing there are no objections. If there is an objection then the decision to purchase shall be referred to the committee.
e. At the end of each calendar month the treasurer shall reimburse monies to all purchasers providing purchase invoices have been submitted to the treasurer.
f. Details of all purchases shall be kept by the treasurer. The treasurer shall include a summary of all purchases against order numbers in the treasurer’s monthly report.
Although this policy works well for most of the purchases (non-urgent) that are made by committee members it should be noted that following the policy does introduce a detrimental delay to any time sensitive purchase negations.
Although a fixed amount could easily be agreed I have concerns that one individual spending unusually large amounts of club money places unnecessary pressure on that individual.
I feel a better option would be to amend both the OOLS Club Loco Sales Policy and the Treasury Policy & Rules to include a paragraph in both documents to ensure that the Loco Sales Manager communicates directly (phone/email) with the Treasurer and they then make a joint decision.
This avoids the individual pressure, ensures consultation take place but does not introduce any delays that could affect the purchase negotiation.
What do you all think?
I'm not sure the issue is the total amount of spend (if it really is a lot then a word with Eric seems to suffice) but rather the price being paid for individual items. If there is a guaranteed profit to be made then there isn't a problem. Nigel is doing a good job.