The Peter Waddell Trust Fund
After former Racewalking Australia president Peter Waddell died in 2002, many members of the Federation felt that his memory should be honoured in some concrete way.
At the 2006 Racewalking Australia AGM, a motion was unanimously
passed to establish a Trust Fund, to be known as the Peter Waddell
Trust Fund, for domestic travel, camps, etc.
An initial seed of $5000 was transferred to a special account to formalise the Trust Fund setup.
The fledgling Fund received a big kick start when Regal Racewalkers organised a raffle in July 2007, the prize being an original Melbourne Commonwealth Games 2006 shirt personally autographed by all 8 racewalkers in the Australian Team and professionally framed with a plaque. The winning ticket was drawn by Nathan Deakes at the National Roadwalking Championships in Hobart on 27 August 2006 and it had been bought by none other than Troy Sundstrom of Regal Racewalkers. This was justly deserved as Regal led by example, selling huge numbers of tickets. Raffle organiser Anne Saville subsequently announced that the raffle had raised $2,690.00 for the Peter Waddell Trust Fund.
Since then, the Fund capital has grown to $10480 so the project is well under way.
The member clubs discussed this fund at the 2011 Annual General Meeting and two action items were passed
a) To initiate a postal vote of member clubs to increase the annual
athlete levy from $1 to $2, the addional $1 going directly to the Peter
Waddell Trust Fund.
b) To set up rules in the By-Laws to govern the way this Fund can be accessed and the sorts of things it can be used for.
The Executive are keen to start the process of annual funding
allocations, based on yearly interest, similar to the way in which
the Alf Robinson Memorial Race Walking Foundation operates. With this
in mind, the Executive proposes the following that By-Law Section 11 be
rewritten as shown below. This will be discussed at the 2012 Annual
11. The Peter Waddell Trust Fund
11.1 When former Racewalking Australia president Peter Waddell died in 2002, many members of the Federation felt that his memory should be honoured in some concrete way. A motion was subsequently unanimously passed, at the 2006 Racewalking Australia AGM, to establish a Trust Fund. This fund was designated The Peter Waddell Trust Fund.
11.2 The funds within the Peter Waddell Trust Fund are held in trust by Racewalking Australia and are administered by a Board of three Trustees, namely the Federation Secretary, the Federation Patron and one other Federation member who is elected at the Annual General Meeting.
11.3.1 The real return from the Peter Waddell Trust Fund, i.e. the interest income received less inflation, may be used each year to help grow the sport of racewalking in Australia.
11.3.2 The Racewalking Australia Treasurer shall advise the Trustees of the maximum amount available for distribution at 1 April each year. Any of this money not used by 1 April in the following year shall be capitalised into the Fund.
11.3.3 Member clubs will be invited to submit funding applications for initiatives that target and seek to advance the sport of racewalking in Australia. Written applications are to be forwarded to the Federation Secretary by the specified closing date (normally 1st July each year).
11.3.4 After the specified closing date, the Trustees will review the funding applications and decide on the distribution of available funds.
11.3.5 There shall only be one funding allocation period per financial year.
11.3.6 Funding shall be for, but not restricted to, activities that enrich the sport of racewalking, such as:
Racewalking Australia will also accept donations from past walkers
and older members who wish to really put something concrete back into
the Sport. All donations should be made out to 'A.F.O.R.W.C. Inc.' and
forwarded to RWA Treasurer Andrew Mitchell, 20/172-180 Clovelly Rd,
Clovelly, NSW, 2031.
6 October 2012