Financial

http://u3avalldelpop.com/wptest/wp-content/uploads/file/Treasurers%20Accounts/U3A%202012-%202013%20ACCOUNTS%20pdf.pdfU3A TREASURERS REPORT. YEAR 1ST MARCH 2011 – 29TH FEBRUARY 2012
The past year has been a remarkable, if not excellent time for the Vall del Pop U3A and its finances. As well as some very old faces in front of me there are loads of new ones, did you know that your U3A now has over 500 paid up members. At this time last year I stated that we needed to review our working methods to ensure we have systems and security in place to deal with our ever increasing membership and increasing numbers of Groups. You will be pleased to learn that we reviewed all our accounting practices and we now have tight control of both the General U3A Bank account and the Travel and Culture Bank account.
Not long ago your annual membership fee was a staggering €12. This was reduced to €10 in 2011 and an unbelievable €5 for 2012 (albeit as part of the 5 years celebrations). Next year who knows!!
A few copies of the Statement of Accounts are available in hard copy here today. But if you wish this can be viewed on the U3A website under the heading of Financial. This report will also be available very soon.
In essence-
We started the year with an impressive €6,695.34 and have ended with, wait for it – an amazing €8,013.83 an increase of over €1300. But remember, this increase has been achieved with a big reduction in your annual membership fee. What extraordinary value!! And because your committee is so shrewd we have invested €4000 in a Deposit Account which yields 5% after just a year. Our assets register is completely up to date so that all equipment owned and bought using U3A funds are logged and we should know at any given time where the equipment is and who is in charge each item. Eve Fisk my trusted assistant has had the task of up dating this register regularly.
However I am sad to report that Eve is stepping down from her job as my assistant and I would like to express my thanks to her for being so supportive to me and the work that she has performed. But I am very happy to report that Jim Lockhart has been nominated for this vital position.
Over the last week, our accounts have been audited by James Brown, assisted by Julia Jones. A big hug for such a speedy and precise job, so well done. James always sifts through the books with a fine toothed comb – a very necessary procedure which protects your money. I think their main criticism was that the petty cash I handed them was short. A whopping 10 cents was missing! In the interests of transparency, I can now report that this is the very 10 cents!! It had fallen out of its container into the bottom of my bag and I discovered it shortly afterwards. So the excellent news is, that we start the new accounting year perfectly!!
Thank you for your continued faith in my book-keeping and cash handling abilities. Should I be fortunate to be nominated for a further year I shall do my best to see that you continue to get good value for money.