How your Money is Spent - Eighty Club Melbourne Inc.- Caring for the Less Fortunate Burgher community in Sri Lanka

The Eighty Club Melbourne is currently committed to financially assist 200 Welfare Beneficiaries,  living in dire circumstances, in Sri Lanka.

1.QUARTERLY ASSISTANCE
Each Welfare Beneficiary receives a monthly pension of Rs 5000/=. In addition , where applicable, a further Rs.1000/= spouse allowance is paid. Furthermore any dependants living with the beneficiary, are  paid an additional Rs 1000/= per month.
These benefits are paid on a quarterly basis

2. BONUSES
In addition, depending on the Club's finances, the ECM pays two bonuses each year, a Christmas bonus of Rs.3000 to Rs.5000 per WB and a bonus at the end of the financial year, paid in July of each year. The second bonus is dependent on the financial results of the Club and has been approximately Rs.5000.

In 2020, 2021 and to July 2023 additional bonuses have been paid in April and October to offset the hardship caused by the Covid pandemic and in 2022 due to the economic and humanitarian  crisis which affected many in Sri Lanka, especially the poor.  These bonuses rangred from Rs3000 to Rs6000.  In total 192 Welfare Beneficiaries received 4 bonus payments in 2020 and 2021.  

3. EMERGENCY FUND
The ECM has made available to the Dutch Burgher Union in Sri Lanka, the sum of Rs.15,000 to assist people in urgent situations such as sickness. This Emergency Fund is topped up regularly and is used frequently for casual callers.

4. PATIENTS WITH MENTAL PROBLEMS
A special payment of Rs.800 per month is paid to four adults with mental problems who rely on their medication to function normally.
Presently,  it costs approximately Rs.12 million per year, primarily to pay the pensions, spouse  and family allowances to Welfare Beneficiaries.
A further Rs2 million is needed, in order to pay the mid-year and Christmas bonuses.

Thankfully due to the generosity of members, wellwishers and sponsors who make donations and patronise our fundraising events , the Eighty Club Melbourne has been able to continue to assist the "Less Fortunate" in Sri Lanka.

Presently due to the fluctuating fortunes of the Australian dollar and a drop in the exchange rate,  our organisation needs to work even harder to generate more funds to offset any shortfall.

Our goal is to continue and care for all those poor souls who depend on us for their day to day necessities and to ease away any pain and suffering they have in their daily lives.

I trust, having gained a financial insight into the work we do, you will assist us in every way you can through membership, donations and patronising our fund raising events.

Tony Scarnivel                                                       

  Former Hony. Treasurer

       It is with great pleasure that I present my first Financial Report for the year 2024-5.
 The Club made an overall profit of $134,864.05 for the financial year. This large amount was mainly due to the generous bequest received from the Estate of the late Heather Holsinger of $135,493.30. The Management Committee decided to invest $130,000.00 of this in a fixed term deposit and the interest be used as follows:
         1/3rd for the Heather Holsinger Award to the two best performing students in either Colombo or Batticaloa commencing in 2025;