Founded 1980
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Treasurer:
Graham Smith
Jan Thompson
Graham Mumby-Croft
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Graham Mumby-Croft
Treasurer
Issue No. 75 Autumn 2016
From The Treasurer.
Those of you who read my Newsletter submissions, (and I readily admit that they are not the most riveting items that appear), will know that since I took over as Treasurer I have had concerns about the Association's financial viability, when faced with the situation that the membership is not growing, and subscription rates are fixed at the amount paid when the member joined. If you have been paying particular attention, you will have noted that I have also highlighted the issue of the cost to this Association of providing PGA diaries to those members who opt to receive one each year. This is because when the cost of a diary and postage is calculated against the income received through subscriptions, the Association loses money on each and every diary provided. In 2015 we lost in excess of £600 on providing diaries to members, and when it is considered that in the same year the accounts show a deficit of expenditure over income of £436.75p it becomes clear that if we could solve the problem of the financial loss on the provision of diaries then the fiscal future would look that little bit better.
It was with this in mind that the Committee took the decision this year to grasp the nettle and put forward a resolution to the AGM which sought a mandate to revise the membership subscription structure, and in addition to put in place a mechanism for bi-annual review. This motion was passed, and attached to this article is a copy of a letter that will go out to all members whose subscriptions will be affected by the change. Those who will be specifically affected are those members who currently receive a PGA diary, and those members whose subscription rate on joining was less than the £13/year currently charged. If you currently pay £13/year and have not opted to receive a diary then there will be no change in your rate of subscription at his time.
Headlines from this year’s financial report to the AGM, (covering the 2015 financial year), were that whilst for the second year running there was a deficit of expenditure over income, (as previously mentioned a sum of £436.99p) at the end of the year the available cash balance stood at £8805.56p.
Income for the year, which comes entirely from subscriptions, was down on the previous year by £226 -
00p. However, despite inflation being at record low levels, costs do still continue to increase, and in 2015 expenditure was £6325.71p.
The largest single cost to the Association is that of producing and distributing the Newsletter. As we strive to maintain and hopefully improve the quality, so the cost is likely to rise, as of course are postage costs.
The second largest cost is the PGA diaries and, as already mentioned, hopefully, this is now to be addressed. It is partly due to the amount that we hold in the bank as a cash balance that I recommended no increase in fees for those members paying £13/year and not receiving a diary, as I believe that the finances are relatively healthy with the exception of the financial burden associated with the provision of the diaries.
A summary of the 2015 accounts was provided at the AGM/Reunion held at Newbold Revel in June and is available to any member who wishes to have one. Please email or phone me if you do require one. (graham.mumbycroft@gmail.com or 01522 889993)
For those of you who had dealings with the Shared Service Centre before you retired, this little tale will not surprise you: however if you retired before the advent of the Shared Service Centre, you were the lucky ones.
Graham Mumby-Croft
