Treasurer’s report to the Annual General Meeting of
Croham Valley Residents’ Association
11th November 2020
Year ending 31st July 2020
In the year ending 31st July 2020 the association brought in income of £566. This consisted of £340 in subscriptions, £46 of donations and £180 of advertising income. Expenditure totalled £1,833.85.
Added to the balance brought forward from 2018-19, of £5,428.52.28, this leaves us a cash balance of £4,575.96 as at 31st July 2020.
Please see the distributed accounts for the year with prior year comparisons. These are available on the website; www.cvra.org.uk,.and will be published in the Spring Newsletter. If you would like a copy sent to you please request one by emailing firstname.lastname@example.org .
Subscriptions for 2019/20 were down by over 86% due to the current Corona Virus epidemic, COVID19, as we felt unable to ask our distributors to call door to door to collect annual subscriptions. Unfortunately, without our band of dedicated collectors we have not been able to collect the annual subscriptions. My sincere thanks to the few dedicated residents who have paid by bank transfer or dropped the funds through my door. As a result, the income is substantially lower this year.
The Newsletters are available on line from our website and by personal request. The latest version Autumn 2020 has been delivered to all residents by commercial means.
Advertising income for 2019/20 is also lower than usual for the same reasons. Advertisers will be invited to renew their adverts in the coming year and we optimistic that they will do so as their adverts are displayed in the Newsletters and on our website. 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 third year running. Mainly due to reduced printing costs for the Newsletter as they were reduced to only two hard copies per 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 volunteers including Jaffer Kapasi OBE for once again auditing our accounts. I trust it was not too arduous and that Jaffer will continue in the role for some time to come.
Wendy A Love FCCA