2016 Month 5 I&E

Due to the earlier Council meeting, the I&E to date isn’t quite a half yearly one, but takes us up to 1st June. As always, this can be found as a separate PDF on my web page and should be viewed in conjunction with the notes below, which explain any variances or other items of interest.

I’m still busy at work, so once again I haven’t predicted a year end position, but there is nothing in the accounts to cause alarm, honest.

There is however one item of expenditure that needs to be discussed by Council. We approved a 2017 budget of £4,800 at the Birmingham AGM to provide support for the Millennium Way. Part of this budget (£1,000) was for promotion of its existence by Marchesi House, and I would like to recommend that we bring forward this spend to 2016. This will continue the excellent work that has been started by Chris Taylor and his team. There is capacity in the budget for this, without exceeding the overall budget for this year. President Barry has already saved us £3k by obtaining a sponsored car, and as the Millennium Way is dear to his heart I suggest that we use part of that saving to meet this cost. Note that I am not proposing additional expenditure, if this recommendation is ratified we will simply have a saving of £1k in 2017.

Notes to I&E

AGM / Conference costs – The split between these budgets will be finalised once I have the final conference accounts, and any surplus has been repaid. A small surplus is anticipated.

President’s car – Barry Durman has managed to obtain a Hyundai for his year, which will save us approximately £3k

Council meetings – this includes £5,370 of income paid by National Council towards package costs for Stratford meeting. Net of this, expenditure is £9,808, which covers the first 2 council meetings of the year (excluding any expenses claims not yet submitted).

Insurance – Our premiums didn’t go up by as much as anticipated, this should be the final figure for the year.

Sundries - includes Classic Car Rally deposits of £755. Net spend is £503.

Capitation – 5 months in and the capitation is still almost exactly the same as last years at this stage (we are approx. £120 better off this year). Capitation reminders will be going out next week to those that haven’t yet paid.

Cash balances

At close of play today, our cash at bank stood at £185,742.37. Of this, £60,317.59 is held in a fixed term deposit which matures in July.

Mark Fairchild

Treasurer@41club.org