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Hon. Treasurer’s Report.

By far the most important event has been the modification to the Belfry.  During the year this cost £9,892 and a further £840 was owed at the end of the year for work done.  This changed our fortunes from being in credit to the tune of £6,090.21 at the end of last year to owing £1,633.82 (plus £840) at the end of the year. However, our income (including donations and fund raising) exceeded our revenue expenditure by over £2,000 in the year. The club should make every attempt to payoff its overdraft, which is likely to peak at about £2,750 before the next A.8.M.

So far only 19 people have responded to the appeal fund and they have contributed £630.  The message is quite clear.  Donations are needed.

Remember we have to pay interest on the overdraft which will cost somewhere near £400 a year at the present level.

Meanwhile there are other fund raising activities on-going which must help the club, not only to payoff its overdraft, but to move back into surplus so that normal operations can continue without borrowing from the bank.

Ensure you buy all the bottles of Belfry Brew and sell all the Balloon Flight Raffle tickets.

We should thank John Dukes for the electrical work that he has done on the hut free of charge; a major donation!  And Dany Bradshaw who did not charge for work done in overtime.

Jeremy Henley