The formula involves publication by the state of rosy collection estimates and approval of a hopeful but unworkable budget tied to those numbers followed by huge post-election cash shortfalls.
The group disclosed a $60 million cash shortfall at the steelworks which has 1100 workers on staff and an estimated contractor workforce of another 450.
Two years ago, active members were asked to pay an additional $410 and members paying retainer dues an extra $110 when the club had a cash shortfall of $275,000.