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National Windsurfing Championships 2018
Iona receiving her trophy from Guy Cribb having come first in her fleet (4.5m)

AGM 2014 - Treasurer's Report

This report covers the accounting period 1st December 2012 to 30th November 2013.

The HSBC current account balance stands at 906.31, the deposit account at 2,463.92 and the Paypal Account 639.62 giving total available funds of 4,009.85.

As in the last few years no income is derived from membership and therefore sources of income are Megabash, Summerbash and Web advertising income. Furthermore there is a small amount of interest received in the deposit account of 1.49 for the year.

Overall when set against expenditure for these items they show a loss of some 85.66 for the year.

The largest single expenditure only item is the Insurance premium which has been held at the same amount of 371 for the forthcoming year.

Overall OMWC funds for the year have increased by 182.96. This is as a result of taking into account the Paypal Account sum that was not previously recognised within the financial year. For the next accounting periods and going forward any monies held in Paypal will be included in the year?s accounts.

It should be noted that since Membership fees were cancelled at the end of 2007 the average reduction in available funds is 637.78 per annum, which would give a little over 6 years before funds run out.

Once again transferring monies from Paypal has proved extremely difficult and did not occur until 18 December . Thanks once again to Mike Tate for his persistence with Paypal. Going forward I have set up a dedicated personal account not registered as a business or club and hopefully this will make transfers from Paypal to HSBC more straightforward.

It did take many months for me to accepted by HSBC as the New treasurer and thanks to Genevieve for assisting in this changeover.

Last updated: 13/02/14 17:34 By: johng
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