CFA Volunteer Welfare Fund

Funding

The recent State Budget announcement will provide a one off capital injection of $2M to establish a self sustaining welfare fund for all CFA Volunteers. These funds will be combined with funds currently held by the VUFBA Volunteer Welfare Fund and invested. The return on the investments must provide maximum and ongoing support to Volunteers whilst enabling a return that maintains the funds real value.

Brigades will be required to subscribe to the fund through the payment of a welfare fund affiliation fee. The affiliation fee will be set annually by the Welfare Fund Committee of Management and approved by the VFBV Board. The setting of the fee will be based on the funds prior year’s income and expenditure trends. The fee may be adjusted either up or down each year to ensure the funds capital base is not eroded but must remain affordable for brigades.

Key Funding Principles are:

• Fund must maintain capital value in real terms
• Affiliation fees are essential to the fund but need to be affordable