Accounts to 29th February 2016

 

 

Click here for Accounts to 29th February 2016

 

Treasurer’s Report

 

Comparison of receipts and payments for 2015/16 compared with 2014/15

The total received from members’ fees fell from 5,510€ to 4,920€, a drop of 590€. The total of our expenses remained much the same, however, being a small increase of 67€ from 4,641€ to 4,708€. This means that although we had a surplus of 869€ two years ago, this was reduced to 212€ last year, so our income pretty much balanced our expenditure.

Comparison of receipts and payments for 2015/16 with budget

Our estimated income from members’ fees was a little over-optimistic, having expected 5,950€ but only receiving 4,920€, a shortfall of 1,030€. Our expenses were curtailed, however, coming in at 1,512€ less than budget. This meant that we still balanced our books, making a small surplus of 212€ rather than incurring the anticipated deficit of 270€.

 

Budget for 2016/17

We have, I believe, conservatively estimated our members fees, that is renewals and new members, at 4,715€. We expect to be able to assist our groups a little more this year, having set aside 2,000€ to cover start-up costs, expansions and equipment for shared use. We have also set aside some money, 1,000€, for our 10th anniversary celebration. We expect, therefore, to spent some 7,410€ this year which is considerably more than we will earn.

 

Cash in bank and on hand at 29 February 2016 and projected at 28 February 2017

We have 9,940€ in the bank and in the cash box at 29 February 2016. In the unlikely event that our projections are accurate, we should still be left with some 7,245€ at the end of February 2017. This may well change, however, as we must always allow for unexpected events and new proposals that are being considered.

 

These accounts will be audited so that members may be given assurance as to their accuracy. The numbers in the accounts, however, do not tell the whole story. The members also contribute and spend within their own various groups. TCET needs a special mention because of its unique contribution to U3A life and because so much money passes through its hands. Their figures for the first six months of last year have already been audited and a satisfactory report was given to Committee. The audit for the second six months is due to start within the first few months of the current financial year.

 

I would like to thank everyone who has helped me in my role since I was appointed last August. Jim was the Treasurer before me and he has provided me with a steady hand and sage advice during the transfer. He himself did a superb job as Treasurer and, when I took over, everything was in order.

 

I would also like to thank our membership team for the time and energy they devote to managing the collection of our subscriptions. Thank you to Sonia, Brigid and all their willing helpers. The members themselves also are very active in supporting our charities. In February, to take one example, some 270€ was raised to provide foodstuffs and needed household items for Caritas. So thanks are due to all the members for their generosity.