Treasurer - Ilene Steinke

You can contact the Treasurer at
January 28 - I hope everyone is enjoying a Happy New Year! Although the New Year began January 1st, CIYC has been well into its fiscal year since November 1st.  I thought that this would be a good time to describe the financial aspects of the CIYC year.
Our fiscal year end is October 31st, so the year ends just as the boats have been tucked away but the new year is up and running on November 1st. All memberships run from November 1st to October 31st, matching the fiscal year.
The budget for the year is prepared by the Executive, then presented to the membership for approval at the Annual General Meeting. The By-Laws of the Club mandate that “the Annual General Meeting (AGM) shall be held no earlier than 21 days or later than 90 days after the end of the fiscal year end”. Generally, the AGM is held the first or second weekend of December.
Full membership fees, together with annual dockage, will be invoiced in December following approval of the budget at the AGM. Social and Associate membership fees will be invoiced in November unless a change is planned that would require approval at the AGM. Statements of Account go out to members by email.
After our long winter’s wait, launch comes in April and we arrange for a crane to do all the boats together. Each member launching a boat must have their account in good standing, and brings a deposit (cheque or cash) on launch morning. After the launching expenses are calculated, they are billed to the members. Statements are sent, adding the cost of storage for those keeping their cradles on the CIYC storage lot.
Too soon, haul out comes in October. A member’s account must be paid up to date to have a boat hauled out, and a deposit is collected on Haul Out Day. Once the expenses are calculated, a final year-end accounting is sent to members for haul out, plus winter storage if applicable, and any other expenses (e.g. ice) incurred during the year.
And a few weeks later, it’s the New Year again!
If you have any questions, you can reach me at

July 16, 2016

The sailing season has been wonderful, with excellent regattas, races and food, and we can all see the physical improvements resulting from hard work put in at the Club. In my first year as Treasurer I am getting to know the ‘ropes’ (and dealing with a few knots). Some changes are being worked on, with the help of Sue Brewin and Denny Graham, to make sure member billings and payments are easy to understand and process.
One change already being put in place is the handling of e-transfer payments. As always, members can make their payments to CIYC by cash, cheque or e-transfer. The one exception is for members choosing to pay their annual charges by three equal payments instead of paying in full when billed. The three equal payments must be paid by providing post-dated cheques. E-transfers are not acceptable for this payment structure. The e-mail address for providing payment and the corresponding security answer has changed, and I have set out the revised steps for sending an e-transfer payment below.
Enjoy our fleeting season!
Payment to CIYC by Interac e-Transfer:
• Use the Interac e-Transfer payment option available at your on-line banking website;
• Send the payment via email to;
• You will be asked to select a security question and answer required to transfer the funds;
• If there is a message area, use it to indicate what invoice/matter you are paying to help us properly credit your account;
• After completing the transfer, send a separate email to providing the e-transfer security answer - the exact wording (spelling, spacing, capitalization) is required for the transfer to be completed.
Note: The payment email is not opened until the corresponding security answer email is received. Regardless of the simplicity of the security question and answer, the separate security answer email is required.
January 1, 2016

Happy New Year! Since becoming Treasurer of CIYC, I now view November 1 as my New Year’s Day, and the year is off to a good start. I was fortunate to inherit Thor Powell’s excellent crew of Dennis Graham (billings) and Sue Brewin (deposits) as my Committee members. Their experience and guidance have been invaluable.

The Invoices for 2015 haul-out and for the 2016 Annual charges have been sent, as well as a summarizing Statement. The Statement will, hopefully, provide answers to any questions you may have about your account, but if not, don’t hesitate to contact me.

The usual method of payment by cheques is still in place, however, for anyone wishing to pay by on-line e-payments, CIYC accepts Interac e-transfer payments through the email account . Please email me separately ( ) with the
e-transfer password that I will need in order to accept the payment.

I’m enjoying the off-season, but looking forward to the coming sailing season and CIYC events. See you out there!

Read Ilene’s detailed 2014-15 Treasurer’s Report. The report can be found on the Members’ Page.
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