AM BOGNOR REGIS WI Financial Report
1st September 2019 to 31st August 2020
The Financial Statement has been approved and the accounts signed off by our Independent Financial Examiner, Betty Pennicott. A signed copy will go to WSFWI and one kept for our records.
As we are all so well aware, this has not been a regular year and our finances reflect this.
- Until the lockdown we raised money through raffles, competitions etc – thank you for your support.
- Subscriptions – We ended the year with 62 full members and 2 dual members.
- WI fundraising – We held a Quiz in January which was well attended and great fun – the profit after expenses was £206.75. There have been events and collections made to support Sage House and the food bank which have been supported before and during lockdown.
- Other Items – Funds held by our WI on behalf of the walking netball team are £173.12
- The hire of the hall – payment was made in advance for the whole of 2020, the Gordon Centre have agreed to suspend our meeting fees until we are able to return to the hall. Once we return to using the hall the money will be re-allocated.
- Speakers and other costs – a breakdown is available
- We contributed towards delegates expenses to the West Sussex AM
- Bursaries – we had 3 bursaries awarded, £100 each to Dinah Barrand, Maggie Hartley, and Chris Hunter for being the Competition Cup winner. When practical they will feed back on their experiences using the bursaries.
Last September 1st 2019 we had £2732 total cash funds. This September 1st 2020 we had £3030.94 at the bank (including the restricted funds from walking netball £173.12)
The new budget will be ready to be approved at our meeting in November.
Subscriptions have been extended by three months to 31st March 2021 – payment due for 2021 April.
The new subscription is going up by £1.00 to £44.00. We are keeping 50p of that to make our share £21.60. WSFWI will receive £10.30. NFWI will receive £12.10.
Dual membership is £21.60.
As you are aware our WI is ‘Acting as an Agent’ in collecting the Federation and National Federation share of the subscriptions.
Also, our WI is acting as an agent for other payments on behalf of the Federation for example Federation Walk and for National Federation raffle tickets.
When a WI Acts as an Agent, the funds are not included in our WI’s receipts and payments in the Financial Statement. They still go through our bank account. They are recorded in a separate part of the Financial Statement.
If you require any further information regarding our accounts, please contact me by email.
Joyce Aird Treasurer 2020