ROTARY CLUB OF LODDON VALE 1185 - DISTRICT 1090 Treasurer’s Annual Report 2021/2022
Hello Fellow Rotarians
I have pleasure in submitting for approval to the Trustees and Members a copy of my Income & Expenditure Report for the Rotary year ending 30[th] June 2022 together with a copy of the Auditors Annual report and recommendations on the state of our accounts as per the year identified above and comment of the Treasurer.
My comments in respect of the attached are as follows:-
Bank Accounts; As can be seen from the Statement of Income & Expenditure all of our accounts are in a healthy situation. During the year we donated in excess of £23,000 to needy causes both locally and further afield. I withdrew £105 from our General account reserves to support the subsidy to Members annual subscriptions which still left the Members General No1 account in a healthy position.
Caf No1 General Account:- At the close of the Audit this account had a difference of £8 between the daily cash spreadsheet and the balance held in the bank account as at close of business on the 30[th] June 22. As this represented 0.03% of turnover the account was balanced out with an audit adjustment. Debtor ; In this account we have one organisation owing RCLV the refund of deposit amounting to £75. This has been taken into withing the accounts.
Caf No2 Charity Account:- At the close of the audit this account had a difference of £31 between the daily cash spreadsheet and the bank account as at close of business on 30[th] June 22. As this represented 0.14% of turnover the account was balanced out with an audit adjustment. In this account there are two items as Ring fenced Donatons; RCLV awarded the sum of £1,000 to the Tilehurst Fire Appeal. £500 was paid out immediately with the balance of £500
with held pending a request for the balance. No such request has been received. The ring fence has been removed and the funds returned to the C.S. sub account.
The second item ring fenced was a sum of £100 to donate to the Woodley Group Ukrainian Appeal. The Treasurer is still awaiting further information to allow this donation to be executed. If the information is not received by 15[th] January 2023 then the funds will be returned to the C.S. sub account. Both these items have been taken into consideration within the accounts.
NatWest Special Events Charity Account and the Caf Interest bearing Gold Account:- Both of these accounts balanced.
Conclusions:- I will be implemented the conclusions identified by the Auditor but may I refer members to the comments made by the auditor in the final paragraph of his section of the auditor’s report.
I would like to take this opportunity to thank Rtn Don Worthy for his time and diligence in completing these accounts and to the Membership as a whole for their support throughout the 2021/2022 Rotary year.
The attached, when, and if, approved by the Trustees, Council and Membership will then be submitted to the Charity Commission.
Yours in Rotary Friendship
Robert H Hyatt
Hon. Treasurer, RCoLV
17[th] November 2022.
| ROTARY CLUB OF LODDON VALE | ROTARY CLUB OF LODDON VALE | ROTARY CLUB OF LODDON VALE | ROTARY CLUB OF LODDON VALE | ROTARY CLUB OF LODDON VALE | ROTARY CLUB OF LODDON VALE | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Statement of | Income | & Expenditure for year ended 30.6.2021 | |||||||||||
| GENE | RAL | TRUST | FUND | SPECIAL | EVENTS | TOT | ALS | GOLD R | ESERVE | ||||
| ACCOUN | T NO. 1 | CHARITY | A/C NO. 2 | CHARITY | ACCOUNT | 3 ACC | OUNTS | A/C | No.3 | ||||
| Income | |||||||||||||
| CommunityService | 9,005 | 9,005 | Bal as at | ||||||||||
| Donations | 3,101 | 3,101 | 30.6.21 | 4,418 | |||||||||
| Meals | 2,271 | 2,271 | Add Interest | ||||||||||
| Youth | 1,500 | 1,500 | earned | 19 | |||||||||
| RC HamburgHaake | 59 | 59 | Transfers | ||||||||||
| International | 120 | 120 | in(from CAF1 | ) 200 |
|||||||||
| Social | 1,758 | 1,758 | Transfers | ||||||||||
| Subs & Admin | 6,877 | 6,877 | out | 0 | |||||||||
| Raffle | 3,067 | 3,067 | Bal as at | ||||||||||
| Foundation | 4,222 | 4,222 | 30.6.21 | 4,637 | |||||||||
| Float repairs | 2,174 | ||||||||||||
| Shop/Reg | - | ||||||||||||
| Sundies/Transfers | 461 | 461 | |||||||||||
| Golf day | - | ||||||||||||
| President's Charity | 4,000 | 4,000 | |||||||||||
| Gift Aid | 167 | 167 | |||||||||||
| WoodleyTheatre Fundraiser | - | ||||||||||||
| Prelude Carol Concert | - | ||||||||||||
| X'mas float | - | ||||||||||||
| WoodleyWinter Extravaganza | - | ||||||||||||
| WoodleyCarnival | - | ||||||||||||
| Marvellous Festival | - | ||||||||||||
| Good News income | 522 | 522 | |||||||||||
| Bill Prince Trust | 2,984 | 2,984 | |||||||||||
| Speakers | 180 | 180 | |||||||||||
| Beat Pro | - | ||||||||||||
| Auction | - | ||||||||||||
| Satellite Club | 2,431 | 2,431 | |||||||||||
| Recruitment | 1,024 | 1,024 | |||||||||||
| Audit Adjustment 0.45% | 48 | 0 | 144 | 1.06% | |||||||||
| Less Opening Balance | -5,736 | 16,383 - |
1,000 | 21,119 - |
|||||||||
| Income Sub-total | 10,531 | 13,465 | 1000 | 24996 | 22,630 | ||||||||
| Expenditure | |||||||||||||
| CommunityService | 5,062 | 5,062 | |||||||||||
| Donations* | 3,101 | 3,101 | |||||||||||
| Meals | 865 | 865 | |||||||||||
| RC HamburgHaarke | 50 | 50 | |||||||||||
| International | - | - | |||||||||||
| Social | 869 | 869 | |||||||||||
| Subs & Admin | 3,667 | 3,667 | |||||||||||
| Raffle | 960 | 960 | |||||||||||
| Foundation | 171 | 171 | |||||||||||
| Shop/Reg | - | ||||||||||||
| Good News Golf President's Charity Gift Aid |
205 | 205 | |||||||||||
| - | |||||||||||||
| 2,000 | 2,000 | ||||||||||||
| - | |||||||||||||
| Bill Prince Trust Sundries |
2,984 | 2,984 | |||||||||||
| 461 | |||||||||||||
| Donations-Golf | - | ||||||||||||
| Youth | 1,354 | 1,354 | |||||||||||
| Recruitment | 60 | 60 | |||||||||||
| Speakers | - | ||||||||||||
| Satellite Group | - | ||||||||||||
| Expenditure Sub-total | 7,137 | 14,672 | 0 | 21809 | 67,009 | ||||||||
| Net revenue for theyear | 3,394 | 1,207 - |
0 | 2187 | 4339 | ||||||||
| Opening Cashbook balance at 1.7.20 |
5736 | 16,383 | 1000 | 23119 | 4,418 | ||||||||
| Net revenue for the year | 3394 | -1207 | 0 | 2187 | 219 | ||||||||
| Closing Cashbook balance at 30.6.21 |
9130 | 15,176 | 0 | 1000 | 25306 | 25306 | 4,637 | ||||||
| Notes to the accounts year ending 30.06.2021 | |||||||||||||
| The figures have been compiled on the basis of actual receipts and actual payments. They include opening balances as at 01.07.20 but thesehave beendeductedwherenecessary to show netincome/expenditureforthe year. |
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| OntheNo1Generalaccount thereis a clericaldifference of+£48inthe bankaccount thanshownoncashsheet,which represents | |||||||||||||
| 0.45% ofturnover.OntheNo2Charity account thereis a clericaldifference of+ £144clericaldifferenceinthe bankaccount thanshown | |||||||||||||
| onthe cashsheet,which represents1. | 1.06% |
ofturnover. | |||||||||||
| Reconstructed andpresented by Bob Hyatt assisted by Don Worthy | |||||||||||||
To: Bob Hyatt, Treasurer, Rotary Club of Loddon Vale
cc. Peter Lewis (President), Ted Davey (Immediate Past President), Richard Ward (Secretary), Rodney Huggins (Rotary Foundation)
Date: 31st October 2022
Re: Audit Report on the Rotary Club of Loddon Vale Financial Accounts/Books: General Account (CAF No. 1) 2021-2022 Trust Charity Account (CAF No.2) 2021-2022, CAF Gold Account 2021-2022 and NatWest Special Events Charity Account 2021-2022.
The following process was used by Don Worthy, Internal Examiner of Accounts, in examining the RCLV Financial Accounts for the year 2021-2022:
1. Check correct balances carried forward from previous year in all main accounts - General Account (CAF No 1), Trust Account (CAF No 2), CAF Gold Account & Special Events Charity Account (NatWest).
- Completed by DW/BH – 25th October 2022
2. Check Entries from Bank Accounts into Cash Book for all accounts and do preliminary reconciliations.
Completed by DW- 25th October 2022
3. Check entries from Cheque Book stubs and Paying-In Book into Bank Accounts for all accounts (including check on sequential numbers of transactions).
Completed by DW- 25th October 2022
4. Check Receipts vouchers and Invoices to Cash Book Entries for all main accounts.
Completed by DW- 25th October 2022
5. Check analysis of receipts/payments in Cash Book s into different analysis accounts e.g., Meals, International, Social, Subscriptions, Raffle, and Sundries (all transactions).
Completed by DW- 25th October 2022
6. Reconcile Closing Balances and Sign that Books have been satisfactorily examined and date (including Totals and Individual Account totals). Completed by DW- 25[th] October 2022
7. CONCLUSIONS & RECONCILIATIONS:
Summary of conclusions & reconciliations are:
a) The Accounts have been kept with good supporting documentation.
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b) Reconciliation of the closing balance as of 30th June 2022 of the General (Members) Account (CAF No. 1) with its relevant bank balance has been achieved.
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c) Reconciliation of t h e closing cashbook balance as of 30th June 2022 of the Charity Account (CAF No. 2) with its relevant bank statement balance has been achieved.
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d) Reconciliation of the Gold Reserve Account cashbook balance as of 30th June 2022 with its bank statement balance has been achieved but except for small amounts of interest few transactions taking place.
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e) Reconciliation of the closing Cashbook balance as of 30th June 2022 of the NatWest Special Events Charity Account with its relevant bank statement balance has been achieved.
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f) Differences in cashbook balances v. banks statements of all the accounts investigated and adjusted where necessary.
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g) Some of the sub-accounts have been zeroed following the total of the final balance of the sub- account being donated/paid out as per the Executors/Trustees instructions. These sub-accounts have been created from Gift Aid donations or the death of a member or close relative.
These reconciliations and conclusions, plus some queries on the handling of items in the cashbooks and in the Voucher-books have been discussed with RCLV Treasurer, Bob Hyatt, and satisfactory action has been agreed and taken
COMMENTS
8. General (CAF No. 1) Account
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The Cashbook closing balance as of 30th June 2022 of £12,813.78 fully reconciled with the closing Bank Statement balance for the same period.
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No further analysis required
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Opening Cashbook balance as at 1st July 2021 is £9,130.53
9. Trust (CAF no.2) Account
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The Cashbook closing balance of the 30th of June 2022 of £14,437.68 fully reconciled with the closing Bank Statement balance for the same period.
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No further analysis required
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Opening Cashbook balance as of 1st July 2021 was £15,166.41
10. Deposit (CAF Gold) Account
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Reconciled
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No analysis required
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Opening Balance for 1st July 2022 is £4,637.97 .
11. NatWest Special Events Charity Account
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Reconciled
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No analysis required
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Opening Balance for 1[st] July 2021 is £1,096.12
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Closing Balance 31st October 2022 is £1,000.00
RECOMMENDATOINS
12.
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To meet General Data Protection Regulations (GDPR) only clean paper (i.e., not containing any third-party data) be used to ensure no personal data is inadvertently passed on.
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To address the issue of unpresented cheques, it is recommended that, unless necessary, all donations should be made by BACS after the formal presentation. Where it is deemed necessary to pay by cheque, then the cheque should be made out on the day, not in advance.
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Only one cheque / paying in book for each Account to be in operation at any one time.
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Ensure cheque stubs are fully and accurately completed for each-and-every cheque.
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All requests for reimbursements by Members for any purchase they have made on behalf of the Club to be submitted on a valid official invoice from supplier or by detailed email from the member so ascertaining that there is an audit paper trail for such reimbursements.
This ends my report.
Don Worthy