This is the explanation that was circulated with the survey :
You may be aware that BIVC holds a significant capital sum of money (more than £30,000) in a bank account.
This money was originally accumulated, by design, over a number of years by making small profits on a large number of events and bigger profits on a smaller number of larger eye-catching ones.
The purpose was to purchase our own premises in the centre of Birmingham – for a number of years BIVC had rented premises but it was thought that if we owned our own we would have more flexibility etc.
When we did acquire premises – close to Aston University – they were successful for a number of years – they were used for many outstanding parties, for meeting prospective members to introduce them to the Club and many other innovative events.
However over the years and the membership and the type of events changed and the premises proved not to be ideal and so they were sold.
Members were adamant the money raised should not be used in the general running of BIVC but should only be used for major initiatives that benefited the majority of members. To safeguard the money they required that any expenditure should only be with the agreement of the majority of members at a General Meeting.
The money was in a high-interest account for many years and the interest it generated was used to keep any increases in membership fees to a minimum. Sadly, in the current climate, it no longer generates much money.
Ever since, there have been many debates as to what to do with the money. There have been many things discussed but few proposals have ever been put to a General Meeting
