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AGM Presentation to Members What follows is a series of reports from the SCORE Steering Group. Feel free to log onto the new e-AGM forum on the SCORE message board to ask questions or make comments.

MEMBERSHIP REPORT BY IAN LINDEN

Membership at 30 September 2007 totalled 243, down from 261 in June, 314 reported last October, and 323 the year before.

Overseas membership is currently 18% of the total; representing no percentage change from last year, although there are ups and down in respect of individual countries.

Australia has the most (14) members, followed by Ireland (10), Holland (4), Germany (3), New Zealand (3), Belgium (2), Japan (2), and one each from Barbados, Bermuda, China, France, Malta, Spain and Sweden.

Since 1 October 2006, 57 enquiries have been received, from which 44 decided to join, a conversion rate of 77%. This is obviously disappointing, when compared to the 102 enquiries and 95 joiners last year. It is notable that, although the Internet is still the largest source of enquiries, a higher proportion are now coming from personal recommendation.

Renewals during 2006/7 totalled 186, representing 58% loyalty, compared with 214 and 67% reported late October. New members since 1 October 2006 total 44, much below the 95 of the year before.

We have recently taken a small step towards encouraging new members, by altering Associate members privileges and fee, to allow prospective owners to post on the message board, so that they can access the manuals and ask questions of other members. This should hopefully prevent repetition of previous disappointments, which probably resulted in lost opportunities.

To summarise, we have suffered a 25% drop in membership, with a 9% deterioration in renewals, a 44% drop in enquiries, and a 54% drop in joiners. One can only speculate on the reasons, but it is notable that a large number of Cappuccinos have recently been offered for parts, and there are many stories of owners declining to undertake expensive bodywork repairs. It is also possible that, as values decline, the cars are passing into the hands of less affluent owners, for whom the £25 annual membership may seem excessive. If we think we are “pricing ourselves out of the market”, we should perhaps consider whether we can make some change in this direction.

FINANCIAL REPORT BY IAN LINDEN

As can be seen from the Balance Sheet on the next page, the finances are in reasonable shape, especially considering the drop in membership and consequent reduction in income of about £1450 (22%).

We are fortunate in that our web hosting service (Barry Moore) has kindly offered us a 50% reduction in fees, applied retrospectively for the preceding 3 years, which makes a substantial contribution to the balance sheet, and will help us keep our heads above water in the future. A one-time benefit is the return of an overlooked merchandise float. Thanks to Alex Clouter, economies have also been made in the production of Mag. Issue 23. These instances have mitigated the reduced income, such that we find

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