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.
Receipts
1.Receipts at meetingsThank you so much for supporting the raffles and sales tables. They did really well. Thanks to Sue Harris for purchasing the raffle prizes. Raffles are our main source of income at meetings and help the committee to book interesting speakers, who may cost more than average. We would encourage you to donate 50p for your hot drink or cake. We still don’t charge for visitors.
- Subscriptions We ended the Financial year with 59 full members and 6 dual members. We had estimated for 64 full members so we had £116 pounds less in our budget than we had budgeted for. When writing the next budget, we will have to think about how many members we are likely to have in January.
- 4. WI Activities. Activities organised by WSFWI were quite well supported, including the carols at Chichester Cathedral and the Chichester Walls walk and talk. We had 5 teams in the Annual West Sussex Summer Quiz. Again they were very successful. Our own activities were well supported including our visit to Goodwood for a tour and afternoon tea. Some members enjoyed a trip on a barge starting at Chichester canal basin. We made our way to Arundel for a walk and talk history tour around the town with Martin, a local postman. We hope to go back next year to discover the history of the river. The Summer social themed as afternoon tea with a ‘Back to School’ theme was great fun.
- 5. WI Funding Raising We had 4 fund raising events during the last financial year. Last October we held our very successful 2ndQuiz, which was enjoyed by 50 members, their families and friends. The profits were added to our funds. After expenses, we cleared £250. We have our 3rd Quiz on Friday 12th October, where again we hope to have lots of fun as well as raise money for our WI. Lynn Douet offered to host a summer lunch, which raised £174. We decided to take part in the Hotham Park Country Fair at the beginning of August. Our stall was full of cakes, biscuits, jams, chutneys and hand crafted items all provided at no cost by members. We raised £352 as well as it being an advert for the WI. An afternoon tea was held in Sylvia Ede’s garden. The £220 raised was donated to St Richard’s hospital for a specific piece of equipment. Hopefully the new committee will arrange some more fund raising events in the future. We depend on these fund raising events to supplement our income so we are not relying on subscriptions alone. eg we used some of our Fund Raising money to finance the Summer Social party. A big thank you must go out to all committee members and members who have supported and run these events.
6.Under Other Itemsincluded in Receipts, We collected £20 for ACWW with members voting for the best monthly competition entry using small coins. We also donated £15.00 to ACWW, the profit from our Swishing event.
Payments
Meeting Expenses
1.TheHire of the hall cost stayed the same for this year. It will no doubt go up in January.
Speakers and Other Costs has been broken down for you in the Budget. We spent slightly less on speakers as one speaker had to cancel. In our next budget we need to include the hire of a hall for the New Members meeting. A small hall in the Regis Centre was £18. As it was my 4thyear of being Treasurer, I have a much clearer idea of how we spend your money. So the budget this year is more accurate for this heading.
Other expenses included the purchase of our banner.
- 3. Publications The cost of the WSN was increased to 45p. We get 2 free and have bought 52 per month this year. Dual members get one from their main WI. We have never charged members for them. Despite reducing the number of WSN bought, we always have some left over at the end of each meeting. We do put the previous months WSN out at the next month’s meeting. Always ask for one if you didn’t get it. We regularly put some in a recycling bin every month. That’s money going in the bin……
- WI ActivitiesIn relation to our own WI activities, our Summer Social expenses were £190. The hire of Rowland Rank Hall had increased. We also bought sashes for the members, who took part in the Bognor Regis carnival in August. And we purchased our banner.
Bursaries We had 2 bursaries awarded of £100 each to Jeanette Clark and Jane Sedgwick. They will report back to us at one of our meetings.
Miscellaneous We have to contribute towards Delegates expenses to both National AGMs and West Sussex AGMs. Many WI’s in West Sussex complained that the contribution for this year’s delegate to Cardiff for the National AGM was rather high.
Last September 1st2017 we had £1607 total cash funds. This September 1st2018 we had £2102 total cash funds.
We are due a refund of a £100, a cheque written for Rowland Rank as a returnable deposit against breakages for our 2 hall hires recently.
The new Budget will be ready to be approved at our meeting in November.
Subscriptions.
The new subscription is going up by £1.00 to £42.00. We are keeping 50p of that to make our share £20.50
WSFWI will receive £9.80 NFWI will receive £11.70 The NFWI share has not increased from last year.
Dual members will pay £20.50. We have to pay £18 towards pooling of fares. It has not been indicated if our insurance contribution of 61p is to be increased.
Finally as stated last year the WI Account Book And Financial Statement changed. There have been a few problems with this new format this year. Hopefully they will be ironed out by next year
Our WI is now ‘Acting as an Agent’ in collecting the Federation and National Federation share of the Subscription.
Also our WI is Acting as an Agent for other payments on behalf of the Federation. And for NF or F 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 new part of the Financial Statement.
If you want any more information about our accounts or the changes, come and chat to me or email me.
Celia Janering (Treasurer) 3/10/18
Bognor Regis Women's Institute 