Hon Treasurer’s Report

TREASURERS REPORT TO THE AGM

 

 

 

Gentlemen,

The Income & Expenditure Account that I have prepared for this Meeting is correct to the 16TH November 2018 ,  it does not include any income or expenditure for to-day’s event.

Income

The increase in Membership Income, of approx £700, is due to the minor adjustment of the joining Fee to £3.00.     Sales of Clothing  down £1000.

These Accounts show the income of a full Winter Series for the first time. In general ,the incomes from the standing Competitions follow a normal pattern and were oversubscribed and profitable with the exemption of the Millennium Trophy.   Entry fees for the Captain’s Invitation held today are incomplete, a further £400 being collected today.

Frustratingly, many Entry Fees for Competitions were not paid by the required date. particularly the Autumn Competition where some were not received until three weeks after the event.

It causes a great deal of annoyance and a lot of time wasting for both the Competition co-ordinator and the myself.   The Rules state that payment should be made one week prior to the event. Payment should be based on the initial Start Sheet forwarded to Reps. Any amendments/substitutions/refunds  etc. can be addressed post event based on the Start Sheet on the day.

Expenditure

Clothing purchases down £1000 ( last year the figure Included 100 New Ties at £1000)   Vouchers up to cover Winter Series Prizes. The price of Logo Balls have dramatically increased, three years ago we were paying £13.50 dozen and now £18.99. ( another downside is that too many players are getting 2’s ! )

Costs for Committee Meetings are up £300 but that included the two Reps Meetings.  The actual two Executive Committee meetings costs are reduced; the Hon Sec and Treas’s expenses are compatible with previous years. The Committee Travel costs have increased due to the number of Sub-Committee meetings  although the mileage fuel allowance reduced by 25%.

Administration costs rose substantially with the purchase of IT equipment for which the Association Members benefit from an improved  Website and Competition Result input facility. Engraving/Medals /Ins remained static.

Costs for Course facilities and meals have been acceptable, as previously stated Competitions have run at a small profit. Matches against Cornwall broke even, Looking ahead, the bi-annual visit of Kent  in 2019 will result in a loss in the County matches.   As ever the match vs the Juniors was sponsored by the Association, sadly the Match vs the Ladies was cancelled. The Emerton Court, once costs of trophies are taken into account, made a loss and the Entry fee for 2020 will need to be amended accordingly. I will be recommending  to the Executive Committee  an increase to £30 per Team for the 2020 season.

The Balance to date shows a profit of £1,680.40 however when cost for today’s event are taken into account, I anticipate this will be reduced to approx £730.00, taking into account the outstanding entry fees less the facility and meal costs etc.

It should be noted that there are considerable assets to the value of £3,792.98 in the form of Clothing and Golf Balls .

There should be an estimated Balance in the Bank of some £9,000.00 for the start 2019. The costs for the post Christmas Winter Series will reduce that to approx £6,500 before the next cycle of Income & Expenditure clicks in.

The only words of caution I would add is that overall costs continue to rise in the form of Course fees and Food  etc. as are the general running costs of the Association and these need to be taken into account . 2019 and 2020 years promise to be of  above average expenditure  years due to the venues of the Captains and Vice Captains  i.e. East Devon and Saunton.

The introduction of the Online Banking has had it’s teething troubles, but generally it works well, with 33% of Reps using the system. Provided that the Correct Codes are used that stipulate for which event the payments represent it works well,  however, at times it was a puzzle to determine what payments were attributed too where !!.

It has added a little extra to the Treasurer’s job, in as much as at present , having to deal with two forms of payment and receipt of monies. i.e. Cheques and Online.  The more use of Online Banking the easier this will become, and I would urge those Reps not already doing so, to adopt this method as soon as possible. If Reps are not personally into Online Banking, it must be within the realms of possibility that another member of their Seniors Group, or their Club’s, can take on the responsibility.

An added difficulty , on a personal basis, is that my own local branch of Lloyds is closing down on the 15th January  2019. That will now require me a round trip of 20 miles to bank cheques, taking probably an hour or so.  Plus finding and paying for parking, and adding to the travel costs. In other words it will save the Association in administration costs to go Online.

This will, of course, affect any future Treasurer as unfortunately Banks are closing down rapidly.    As you are aware , after nearly ten years, I am resigning as Hon Treasurer, I shall be continuing to the end of this year and will present the Audited Account to the Executive Committee on the 7th January 2019. As yet there has been nobody prepared to step forward to take over this important role.

It does not require any qualification as an Accountant, although such experience would no doubt make it a doddle. My experience has only been in business keeping a ledger of Income and Expenditure and that’s all this job requires. The job has given me a great deal of satisfaction in the form of giving something back to the game of golf.  The DMVGA needs to find someone a.s.a.p. should anyone wish further information I have examples here which show how I have operated . Enquiries should be directed through Bob Small.

I conclude by asking the Meeting to accept these accounts prior to Audit at the year end

David Bromage (Hon Treasurer)