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Treasurer’s Report

1.                  This year has been a particularly topsy-turvy year with lots of money going in and out of the accounts.  Cash flow, as usual, has been a problem with irregular and sometimes large sums being spent and received.  Members can help by paying Subscriptions and Hut fees on time.

2.                  A feature if this year's income has been the fall off of Bednight income (£1853 as opposed to £2195 last year) and desertion by the Services (Army & Navy) in recent months.

3.                  We made a healthy profit on the Wessex Challenge from Food and the Bar, not intentionally but perhaps we didn't think carefully enough about the cost of tickets and food. I see no reason why we should not make a profit on such events and as it turned out we certainly needed the money, but we ought to set the level of prices a little better next year.

4.                  The electricity bill is another large item which is currently being investigated and the Electricity Board will re-checking the metering for defect in due course.

5.                  Sales of sweat and T-shirts have not been up to expectations and hence we still have a deficit of £214 to erase to break even.

6.                  The Belfry itself has not been self-financing this year principally because we had to spend over £1300 on Act of God repairs on the tackle store roof.  We should recoup some of this expenditure back from the Insurance Company in due course.  If it had not been for this unplanned expenditure then the Belfry would have paid for itself by about  £500.

7.                  The Jill Tuck library fund has now been completely extinguished by the completion of the purchase of new bookcases.  We still need a few more cases to complete the housing of all our material and this will be done as funds arise.

8.                  The Ian Dear Memorial Fund is slouching along slowly.  Our injection of £100 pa from the General Fund is helping to keep the account in the black and as nobody drew on it this year the amount available stands at £298.

9.                  Our priorities this year are recommended as follows:

A)                   Complete the re-fitting of the library

B)                   Purchase caving tackle required by the Tackle Master.

C)                   Complete the numerous Hut jobs, drying room etc.

10.              I recommend that the Subscriptions and the Hut fees remain the same.  The members can help financial planning and cash flow paying subs and hut fees on time.

11.              A major project for 1988 will re the financing of the St. Cuthbert’s Report.

12.              I consider the year financially to have been busy and productive.  We have been able to weather the storm of Belfry fire improvements and roof repairs out of our own funds without the need to borrow. Providing members and guests use the Belfry regularly, remain actively involved in the club and pay all dues on time, we should have a good year in 1988.

M.C. McDonald