27th September 2013
The Board drew members’ attention to the British Fencing (BF) finances in our recent statement. We identified causes of last year’s deficit and the single biggest contributor was the competitions programme. Following a detailed financial review of competitions organised by BF in the 2012/2013 season, the Board has had to take some difficult decisions about both the income and expenditure of our event programme for 2013/2014, as below;
- entry fees will have to increase for some events by between 15-25% (excluding international events where entry fees are fixed by the FIE). We are keeping these increases tightly to the minimum required;
- travel, subsistence and accommodation expenses will be strictly in accordance with BF’s expenses policy;
- the practice of paying per diem allowances to referees and other officials, introduced in 2012, will be suspended. Expenses incurred of course will continue to be paid.
All other spending will be tightly monitored to save costs where we can and keep entry fees down. The Board regrets that these measures are necessary but they are being taken in the best interests of our sport. As a result of these measures we will be able to protect our event programme for this season, which we believe is vital to the community and the sport. The only alternative was to cancel some or all of our events.
A further and thorough review is now underway to establish the most appropriate and sustainable event programme for 2014/2015 and beyond - consistent with our long term strategy for the growth and development of our sport. We shall of course consult members on the outcome.