Treasurer's Report 2018
I am pleased to report another most successful year for the Club’s finances even though are numbers reduced this year to sixty-six (66) playing members. Thanks must go to the many members whose efforts contributed to maximising our income and to your Committee for their diligent budget management.
The average annual basic running costs for the club over the last ten years (2009 to 2018 inclusive) is £10,040 per year, although this year 2017/2018 it was less at £9,130. Basic running costs are defined as Rent and Rates, Insurance, Upkeep of the Green, Postage and Telephone, Printing & Stationery, R&R Equipment, R&R Premises/Building works, Affiliation fees, Hire of Halls, Sundries and Bank charges. The average income from membership fees over the same period was £6,211 but this year it was down to £5,907 due to the reduction in members.
In addition to membership fees, we also charge playing fees for all home and away matches. For 2017/2018 the total income from these fees, including the fees from touring teams, was £2,571 thanks largely to eight touring teams. Strictly speaking our membership fees should reflect the total running costs of the club minus the match fees income assuming no other extraneous income, or £6,559 a year (based on 2017/2018 accounts £9,130 minus £2,571). Assuming a 2018/2019 membership of 70 paying members, without any other fixed income, this would suggest a requirement for a membership fee of approximately £94 per year. The Management Committee has decided to keep the Membership fee at £90 for the next season.
The accounts show that receipts exceeded payments by approximately £7,800. This number is significantly higher than normal but some of the key factors contributing to this figure can be seen from an analysis of the accounts.
In 2017/2018, we made a loss of around £500 on the basic costs of running the club compared to the income from membership fees, green and rink fees and touring teams. That loss was turned into a positive balance by net variable income from other items such as:
Locker rents £100
Sponsors and adverts £1,763
Plant Sales £725
Social events and raffles £1,124
Invitation day £723
Green Equipment sales £2,250
Bar receipts minus running costs and stock £998
Note the income of £725 from Plant Sales. Special mention and the award of an MBE (Members Being Enterprising) goes to Sandra and Dave Ellis for their efforts in promoting the sales. An honorary mention also goes to Ann Pearce for her efforts with plant sales also. Thanks also go to Edie Vine for the management of the clothes sales over the year contributing to the income.
I re-iterate again this year that the income from these other items is, by its nature, uncertain. This season, social events have not been particularly well supported, and of course advertising and sponsorship could quite easily be reduced in the future.
This year Greenkeeping activities were completed mainly by March Irrigation and undertaken by Burleys towards the end of the season. Green keeping costs totalled £4,794 in 2017/2018. In 2018/2019 they are contracted to be £4,873 which includes Winter Maintenance. We have also contracted Burleys to perform an End of Season renovation activity costing £1,435 which occurred during October. So, the total known budgeted greenkeeping costs for next season are £6,308 which is an increase of £1,514. As the green is our biggest and most valuable asset this is considered fair and reasonable expense.
The balance of the “Building Fund” now stands at £2,710. I have transferred the plant sales income into this fund as requested by Dave Ellis. The Management Committee has determined that the purpose of the “Building Fund” to accumulate significant income for future building upgrades has not been and is not likely to be successful. For the next season I would recommend that we incorporate these existing funds into the current working account.
The balance sheet shows our total reserves (money in the bank) as £23,060. Prudent management would suggest that £10,000 is the sort of level required as a safety net against unforeseen circumstances such as a reduction in income should membership numbers decline. This means that there could be approximately £12,000 available for future building upgrade programs as mentioned elsewhere.
Although the club is in a sound financial position, we must always guard against complacency and continue to work to maximise our income in order to remain viable in the face of ever-increasing costs and the need to ensure that our buildings are serviceable into the future.
Copies of the Balance Sheet, the Receipts and Payments Accounts and the Bar Profit & Loss statement for the past financial year are attached to this report.