Draft Treasurer’s report to the Annual General Meeting of
Croham Valley Residents’ Association
24th October 2019
Year ending 31st July 2019
In the year ending 31st July 2019 the association brought in income of £3,546.09. This consisted of £2,675.20 in subscriptions, £210.89 of donations and £660.00 of advertising income. Expenditure totalled £1,833.85.
Together with the balance brought forward from 2017-18, of £3,716.28, this gives us a cash balance of £5,428.52 as at 31st July 2019.
Please see the distributed accounts for the year with prior year comparisons. These are available at the AGM and will be published in the Spring Newsletter. If you would like an extra copy please ask me, email firstname.lastname@example.org or download from our website www.cvra.org.uk.
Since August 1st we have received a further: £247.00 in late subscriptions and £120 in advertising revenue.
Subscriptions for 2018/19 fell slightly short of the anticipated 33% increase due to the raise in membership subscriptions in 2017/18 from £3 to £4 per annum . This shortfall in income is partly due to the late payments, that arrived after the year end but emphasises the problem of collecting monies from the door; not always easy. Our membership subscription is still low and our advertising rates truly competitive. We continued to improve the quality of our Newsletter in the last year and now have plans to develop the website. We hope this will encourage more residents to become members and more local businesses to advertise with us.
Advertising income for 2018/19 is lower than 2017/18 due to a late payment, now received, otherwise it remains at the same level. We are grateful to all the local businesses that support the newsletter. Anyone wishing to advertise in the newsletter should send a high res pdf to email@example.com and contact me for details.
Expenditure is significantly lower for the second year running. Mainly due to reduced printing costs for the new Newsletter and the plan to reduce hard copy Newsletters to two a year. Website costs have increased and will do so next year as we invest in the new website. All other costs have been kept to a minimum.
As you can see, we have a healthy bank balance, are able to function happily at the current level and have some funds now to invest in the proposed website development.
The Executive Committee have asked me to express their sincere thanks to our team of dedicated distributers who ensure that every subscription is eventually collected and go out all weathers to deliver the Newsletter promptly. We could not operate without them. And finally, my thanks to Jaffer Kapasi OBE for auditing our accounts this year for the first time. I trust it was not too arduous and that Jaffer will continue in the role for some time to come.
Wendy A Love FCCA