Accounts to 28th February 2015

 

AGM FINANCIAL REPORT
1st MARCH 2014 to 28th FEBRUARY 2015
by Jim Lockhart, Treasurer of U3A Vall del Pop

 

I am pleased to report that at close of business on 28th February 2015 the U3A Funds, including Petty Cash on hand, were a healthy €9728.33, an increase over the previous year of €899.74. This was partly due to the increase in the number of Members but also to the prudent spending by your Committee which enabled the Membership Fee to remain at €5. During the year our main expenditure was on: – Running Expenses €2214, Group funding €800, Open Day €656 which attracted many new members and a Sound System €600. Full details of the year’s income and expenditure are available at the end of this report.

I can also report that all suppliers and expenses are paid up to date and that there are no outstanding debts for the year. During the year we have also introduced a six-monthly auditing programme for the Travel, Culture and Entertainment Group (formerly TCP Group). The last audit was successfully carried out in February 2015.

The accounts have been audited internally, making sure that your membership fees are being correctly recorded and that all transactions are transparent. To this end the detailed accounts are always available at any time of the year for inspection by the membership.

My special thanks must also go to Sandra Welham and her team of helpers for stepping into the breach following two changes of Membership Secretary during the year, and for all their hard work in collecting Membership Fees. Mine is the easy task of collecting the money from Sandra and putting it into the bank and recording the transaction; Sandra’s job has been to make sure every €5 she receives is recorded against the correct Member which is no mean task with over 1100 Members. Sandra, in consultation with various members, has put a new team together to collect Membership Fees and implemented a new system of recording each transaction, a system that can in future be handed over efficiently whenever there is a change of Membership Secretary.

Although our finances are in a healthy state and there is money available as usual to the U3A for funding and expenses, we must always remember that, due to the generosity of various “Town Halls”, we very rarely pay for the venues we use, so it is important that we maintain a balance in case we are asked to contribute to the costs of using these venues at some stage in the future.

Attached to this report are:-

Balance Sheet 2014 – 2015

Budget & Expenditure Report 2014 – 2015

Group Funding report 2014 – 2015

(Click on these report headings to view)