Club Finances 2019/20
Posted: Sun Jun 21, 2020 12:15 pm
As there is no AGM this year I thought it best to post a summary of the club's finances here.
If you were at the last AGM and paying attention you will have heard that the club had a deficit (as at 31 March 2019) of £1,736.09. I am pleased to announce that this has now been reduced to £424.49. Mainly this was achieved by a reduction in staff costs (down 13%) and a reduction in printing costs (down by 21%). However the cost of meetings increased by 8% and takings from membership fees were down, unsurprisingly, by 24%.
Overall membership numbers were down from 2,426 to 2,108 but that's what we were expecting. We wait to see what impact the current pandemic has on club funds but that will not be clear for some time, although new members joining between April and mid-June 2020 are well down on last year.
Here's the full report.
Expenditure (previous year in brackets)
Staff Costs £12,621.17 (£14,573.05) -13.4%
Printing £3,045.35 (£3,834.30) -20.6%
Postage £2,160.92 (£2,104.76) +2.7%
Bank/Paypal Charges £539.58 (£584.06) -7.6%
Fuel/Travel/Vehicle £2,520.00 (£2,425.41) -3.9%
Premises £1,320.00 (£1,320.00) 0.0%
Telecomms £1,382.15 (£1,220.99) +13.2%
Stationery £684.34 (£699.12) -2.1%
Webhosting/IT £1,502.61 (£1,632.25) -7.9%
Rally Costs £21,301.00 (£19,787.86) +7.6%
TOTAL £45,589.77 (£48,181.18) -5.4%
Income
Balance b/f -£1,736.09 (-£2,833.78) -38.7%
Memberships £8,277.50 (£10,832.50) -23.6%
Renewals £16,610.83 (£17,245.83) -3.7%
Rally Bookings £22,013.04 (£21,200.54) +3.8%
TOTAL £45,165.28 (£46,445.09) -2.8%
DEFICIT = £424.49 (previously £1,736.09)
If you were at the last AGM and paying attention you will have heard that the club had a deficit (as at 31 March 2019) of £1,736.09. I am pleased to announce that this has now been reduced to £424.49. Mainly this was achieved by a reduction in staff costs (down 13%) and a reduction in printing costs (down by 21%). However the cost of meetings increased by 8% and takings from membership fees were down, unsurprisingly, by 24%.
Overall membership numbers were down from 2,426 to 2,108 but that's what we were expecting. We wait to see what impact the current pandemic has on club funds but that will not be clear for some time, although new members joining between April and mid-June 2020 are well down on last year.
Here's the full report.
Expenditure (previous year in brackets)
Staff Costs £12,621.17 (£14,573.05) -13.4%
Printing £3,045.35 (£3,834.30) -20.6%
Postage £2,160.92 (£2,104.76) +2.7%
Bank/Paypal Charges £539.58 (£584.06) -7.6%
Fuel/Travel/Vehicle £2,520.00 (£2,425.41) -3.9%
Premises £1,320.00 (£1,320.00) 0.0%
Telecomms £1,382.15 (£1,220.99) +13.2%
Stationery £684.34 (£699.12) -2.1%
Webhosting/IT £1,502.61 (£1,632.25) -7.9%
Rally Costs £21,301.00 (£19,787.86) +7.6%
TOTAL £45,589.77 (£48,181.18) -5.4%
Income
Balance b/f -£1,736.09 (-£2,833.78) -38.7%
Memberships £8,277.50 (£10,832.50) -23.6%
Renewals £16,610.83 (£17,245.83) -3.7%
Rally Bookings £22,013.04 (£21,200.54) +3.8%
TOTAL £45,165.28 (£46,445.09) -2.8%
DEFICIT = £424.49 (previously £1,736.09)