Treasurer's Report 2023/24
A bequest of £40,325 was received from the estate of our late Chairman, Andrew Millar. This has been banked in our Charity Tracker investment account at Saffron Building Society, which is earning 6.25% at present. While the rates stay like this, we need take no action but if they change we will need to invest in bonds to protect the value for the bequest for the benefit of the Society in the future. Interest this year was £1455 against £132 last year.
The rent of Roman Circus House for our meetings is not being covered by admission fees by £200 over a year. We need to increase the admission fee, currently £2 to £3.to cover costs, with £4 for visitors. As our membership rates are so low - £7 for single members, £12 for couples – we will need to review our rates but we need not do both this year.
Sponsorship and magazine sales are holding up and admin costs are stable, covering our basic activities.
Back copies of magazines are still available, and also 3 varieties of CD (Essex Ballads, Colchester Speaks and Essex at War)
Peter Evans Hon. Treasurer