FROM THE FIREMAN - NOVEMBER 2010
The VFBV Welfare Fund has had some undeserved bad press in recent weeks – bad press that potentially could have interfered with its important, long term job of helping volunteers in need.
The VFBV Welfare Fund is volunteer-run, reports to the VFBV Board, has its governance and finance reviewed each year by an independent external auditor, and operates according to Australian Taxation Office rules. It provides small cash grants at short notice, to assist CFA volunteers who face significant financial hardship.
The bad press came in the form of a newspaper article that seemed to be based on the incorrect assumption that the Fund had been given a State Government grant of $2 million to be distributed immediately. The article accused VFBV of “sitting on” the money.
The article missed the fact that a different fund, the VFBV Black Saturday Volunteer Recovery Fund, had the role of quickly accumulating donations and distributing assistance to volunteers who had lost their homes, businesses or other significant assets to the Black Saturday Fires. That VFBV-run fund did its job in a matter of months, raising and distributing more than $850,000 to hundreds of volunteers.
The article also missed the fact that the VFBV Welfare Fund is a different type of fund, designed to last indefinitely, and needs to be backed by invested funds to do its job.
VFBV did the groundwork of setting up the Fund, including making representations to the State Government that resulted in a one-off grant of $2 million to be invested so the Fund would have a regular income.
The interest from that investment keeps the Fund’s resources ahead of inflation and provides income that can be paid out as grants to volunteers in need. That healthy investment income has also allowed the Committee of Management to reduce the cost of subscription to just $85 per year for each member brigade.
In its first two calendar years of operation (from October 2008), the VFBV Welfare Fund maintained its capital base, while distributing over $200,000 to assist more than 70 CFA volunteers in need.
The Fund is now in its third financial year, and well on its way to having two thirds of all CFA volunteer brigades subscribe as members.
HOW THE FUND WORKS
The VFBV Welfare Fund enables member brigades to access small welfare grants for CFA volunteers, former volunteer members and their families, who are experiencing significant financial hardship.
Subscribing brigades can apply for a grant by obtaining an application pack, then forwarding the necessary information to the VFBV Welfare Fund’s Committee of Management, which is made up of long-serving CFA volunteers. Decisions are usually made within a few days and any approved grant is forwarded to the brigade.
The process is confidential, and the Committee of Management stays in touch with the brigade in case additional help is needed. The Fund can also organise financial counselling, where required.
Typical recipients include volunteers and their families, or long-serving former volunteers, who face significant financial hardship because of prolonged illness, bereavement, loss of earnings or the travel and accommodation costs associated with supporting a relative in hospital.
The VFBV Welfare Fund offers brigades a quick way to get financial help to a volunteer, which is a benefit to the brigade as well as the volunteer and their family.
It can save a close-knit local brigade the heartache of wanting to help a mate in significant financial hardship, but facing the difficult task of raising two or three thousand dollars in a hurry.
Not one cent of the VFBV Welfare Fund or its income is spent on administration or other VFBV costs. Every cent is dedicated to helping members in need, and thanks to its invested capital base, the Fund will be providing that help to volunteers for generations to come.
HOW TO BE INVOLVED
Donations to the Fund from individuals or organisations are both welcome and tax deductible, and the VFBV Welfare Fund does not pay administration costs – those are met by VFBV.
Any VFBV-affiliated brigade can subscribe to the fund, and the number of member brigades has risen with each year - VFBV expects two thirds of CFA brigades will take up the option to subscribe this year. Affiliation with VFBV costs an average of about $80, depending on the classification of the brigade.
Brigades wishing to subscribe to the Fund or apply for assistance for one of their volunteers can contact the Fund on (03) 9886 1141.
To return to the VFBV website, click here.
Ends…
