23 January, 2017

Treasurer's Report for 2017 AGM

by Russell George

Jeff handed over the Treasurer’s black executive briefcase to me after the last AGM, with the Association’s finances in a healthy state. It took a few more months for HSBC Bank to update their records and enable me to start receiving bank statements, but eventually I was up and running.
Income and Expenditure to 31st March 2016
We finished the year with a surplus of £1405.40, a little less than the previous year.
Income
  • Membership subscriptions £2557.00 (down 4% on the previous year)
  • Sales of merchandise £178.00 (up 24%)
  • Route packs £150.50 (up 34%)
  • Raffle/donations/bank interest £327.60 (up 13%)
  • Social Account £11,609 (down 3%)
Expenditure
  • Postage £74.96 (down 65%)
  • Quo Vadis? Magazine £1870.74 (up 29%) [Note 1]
  • Trophies £259.00 (up 18%)
  • Website domain purchase £200 (nil in previous year)
  • Merchandise purchases £nil (£265.68 in previous year)
  • Social Account £10,964 (down 5%)
Note 1:
The increased cost of QV? is due to additional pages (up 16% on the previous year), two editions exceeding the standard letter weight for postage, and increased postage costs.
Balance Sheet as at 31st March 2016
The total amount held across the Association’s three bank accounts has increased to £11,481.42. This arises from the year’s surplus of £1,405.40.
I have made a small change to the presentation of merchandising stock, which is now shown as a memorandum item, outside of the balance sheet – this is because the Association traditionally charges all stock purchases to the Income & Expenditure account in the year of purchase. The merchandising stock is valued (at cost) at £1,266.17, which is slightly higher than at the previous year end. Despite sales of merchandise in the year and no further purchases of stock, the stock value has increased due to the discovery of a bundle of car stickers at the bottom of a box of sweatshirts.

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