Treasurer's Annual Report 2005

By Treasurer - PC Steven Broadbent

Last year my report was two pages long. This time it is a different story and as you see, is only a few paragraphs.

As many of you will recall I had concerns over the repeated overspend of around £3000 that was then into its third consecutive year. Though I appreciate much of the overspending in 2002 and 2003 was intentional to reduce our reserves, an abrupt ‘slow down’ on this continued over-spending in 2005 was urgently needed.

2005 has been a tough year and I stuck rigidly to the rule of not allowing anyone to overspend on their allocated sectional budget. Other ways of income generation were also implemented including enforcement of more member contribution. PSUK successes were higher than normal and more sections qualified into the Nationals than in 2004. Notwithstanding all this, our overall spending on sport was kept around the same as the previous year.

Therefore, all in all, the plan worked and as you will see we made a profit of around £350! Not a huge amount but the object of the Club is not to make a net profit, simply reinvest all income into its members plus maintaining a healthy reserve of around £10,000. And this we have achieved.

However, we must not be complacent and I intend to adopt a similar strategy this year without shedding too many tears along the way!

Please study and take away your copy of the audit and please feel free to raise any questions here or at a later time. If you look at the figures you will see what we have to spend. Please ignore the £10,000 reserves - this is now a bottom level figure and these reserves are there purely for unforeseen expenditure, nothing else.

Thank you to all secretaries for their consideration, understanding and perseverance. I will look forward to the year ahead with much more optimism than a year ago.

Thank-you.