TREASURER’S REPORT
Presented at the County AGM
Mrs J.Mitchell-Fox gave the following report .
Good afternoon Ladies … I have pleasure in presenting my first report to the accounts for the year ended 31 August 2009. These accounts have been audited by Rod Mitchell-Fox Chartered Accountant and signed by him and myself as a true record of the year’s transactions.
The number of members was down in the year but the raising of the subscription to £7.00 meant that our income increased by £3580.
As our golfing year does not finish until October expenses in this years accounts include the costs incurred when our first team played in the intercounty finals in Bristol last September. We do make profits on our autumn and spring meetings which all help to balance the books at the end of the year and offset the extra expenditure in the year.
You may wonder why very little income appears in raffles…..…when we began the 08/09 season all proceeds were posted to the centenary fund…these monies are held in our account which you will find on the balance sheet under current liabilities…that means it is money paid in advance and should the event not take place it would have to be refunded….the total at 31/08 was £2380.
I think most headings are self explanatory ..uniform was minimal in the year and only junior shirts were purchased.
The juniors have had good funding from EWGA this year but in the future this will not be the case as the rules have changed and we will be relying more on the clubs to give what they can… attached to your accounts is a spreadsheet showing which clubs have given in the past two years…………it would be good to see a number against each club…..whether you have juniors or not!!
Bank interest has dropped considerably and as we are an association with more than one signatory there are really no other options to get a better deal.
The county cards have sold well this year and although it looks as if we have not made much profit you must take the two years together..gross income £2508 paid to DGU £1085…profit £1423…..well done to all those who did the selling and buying!!
After a discussion with The Auditor we have removed the Vets’ balance from last years accounts…as it was only a token gesture and we had no call on the account…it does mean that last years loss was more than originally agreed but it did distort our figures.
All junior income and expenditure transactions are included in the main accounts.
If we can turn to the balance sheet you will see that £11422 is the total held at the bank and £528 is held for expenses to be paid out in September. £2380 of this is the centenary fund so the total assets are £9570…£372 up on 2008…… the excess of income over expenditure for the year.
There is no proposal to increase the £7.00 subscription this year. Expenses are all necessary to run your county golf and we are always looking at ways to keep the costs down. We had hoped to be able to tell you the EWGA were offering all counties an insurance policy at a much reduced rate to that which we pay at present but all counties have not agreed and EWGA are not proceeding. I have made an approach to the same company and am awaiting a quote, which will hopefully be more attractive than the £796 we pay now.
I thank you for your patience and hope I have covered all aspects but should there be any questions I will be pleased to answer them.
As our golfing year does not finish until October expenses in this years accounts include the costs incurred when our first team played in the intercounty finals in Bristol last September. We do make profits on our autumn and spring meetings which all help to balance the books at the end of the year and offset the extra expenditure in the year.
You may wonder why very little income appears in raffles…..…when we began the 08/09 season all proceeds were posted to the centenary fund…these monies are held in our account which you will find on the balance sheet under current liabilities…that means it is money paid in advance and should the event not take place it would have to be refunded….the total at 31/08 was £2380.
I think most headings are self explanatory ..uniform was minimal in the year and only junior shirts were purchased.
The juniors have had good funding from EWGA this year but in the future this will not be the case as the rules have changed and we will be relying more on the clubs to give what they can… attached to your accounts is a spreadsheet showing which clubs have given in the past two years…………it would be good to see a number against each club…..whether you have juniors or not!!
Bank interest has dropped considerably and as we are an association with more than one signatory there are really no other options to get a better deal.
The county cards have sold well this year and although it looks as if we have not made much profit you must take the two years together..gross income £2508 paid to DGU £1085…profit £1423…..well done to all those who did the selling and buying!!
After a discussion with The Auditor we have removed the Vets’ balance from last years accounts…as it was only a token gesture and we had no call on the account…it does mean that last years loss was more than originally agreed but it did distort our figures.
All junior income and expenditure transactions are included in the main accounts.
If we can turn to the balance sheet you will see that £11422 is the total held at the bank and £528 is held for expenses to be paid out in September. £2380 of this is the centenary fund so the total assets are £9570…£372 up on 2008…… the excess of income over expenditure for the year.
There is no proposal to increase the £7.00 subscription this year. Expenses are all necessary to run your county golf and we are always looking at ways to keep the costs down. We had hoped to be able to tell you the EWGA were offering all counties an insurance policy at a much reduced rate to that which we pay at present but all counties have not agreed and EWGA are not proceeding. I have made an approach to the same company and am awaiting a quote, which will hopefully be more attractive than the £796 we pay now.
I thank you for your patience and hope I have covered all aspects but should there be any questions I will be pleased to answer them.