Financial report to the trustees and members of the Rotary Club of Loddon - Vale by the Treasurer of the accounts for the Rotary year 2022 2023
Well, Ladies and Gentlemen, I put pen to paper (or should I say one finger from each hand to key board) as I provide you with my last Annual Treasurer’ Audit report. Thank you for all your support over the years and my best wishes to Jeremy and I ask that you give him the same help and support that you gave to me.
Financially, the Club is in a sound position, with a brought forward figure for our Trust accounts of £15,437 from the 2021/2022 Rotary year and raising a further £29,599 for our charity accounts in 2022/2023 we donated a gross figure of £23,120 to worthwhile causes. Well done Guys and Gals.
The total gross turnover for our Club during the last Rotary year was £53,462 (net £24,950) over all four of our accounts.
The carry forward amounts from 2022/2023 to 2023/2024 are:RCLV General No1 a/c = £14,406 RCLV No2 Trust a/c = £12,461 RCLV NatWest Special Events a/c = £ 1,000 RCLV Interest bearing Gold account = £2,395 No1 a/c Reserve RCLV Interest bearing Gold account = £2,292 No2 a/c Reserve
INTERACT CLUBS
PIGGOTT INTERACT CLUB – This Club remains healthy and Active under the mentoring of Rtn Trevor Barber. Account balance £1,424 credit
BULMERSH INTERACT CLUB – This Club unfortunately is no longer active. WANGELLS INTERACT CLUB - This Club is still active and has served the community well under the mentoring of our dear parted friend and colleague Roger. Unfortunately I have been unable to obtain the final bank account balances as at 30[th] June 2023.
I refer the Membership to the report from the Auditor, attached.
Treasurer request for discussion by Council and the Membership as a whole?
With regard to the International Sub Account, No2 Trust a/c., the balance of £504 in this sub account has remained at that level for some considerable time, without moving. Indeed, over the last number of years when we have made an International donation the funds have been supplied from the Community Service account. When contacting other Treasurer’s in District it would appear that we are now one of the very few Clubs that have a separate International sub account and appear to hold the one Community Service/Charity account from which all donations are made.
My Proposal to Council and Members is to transfer the £504 from the International sub account into our Community Service sub account and make all donations from the C.S.sub account.
I would like to thank Don for all his help in finalising the 2022/2023 accounts and for his guidance over the years.
To the best of my knowledge and belief I am satisfied that the above is a true and accurate record of our accounts as at 30[th] June 2023. I commend my report the Trustees, Council and the Membership as a whole.
Robert H Hyatt Immediate Past Honorary Treasurer Rotary Club of Loddon Vale. 1[st] October 2023
| 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 30.6.2023 | |||||||||||||
| GENERAL | TRUST FUND | SPECIAL EVENTS | TOTALS | GOLD RESERVE | |||||||||
| General A/c No1 | CHARITY | CHARITY ACCOUNT | 3 ACCOUNTS | A/C No.4 | |||||||||
| Income | No 1 | A/C | No | 2 A/C | NATWEST A/C | ||||||||
| CommunityService | 16,320 | 16,320 | Bal as at | ||||||||||
| Donations | 150 | 150 | 30.6.22 | 4,638 | |||||||||
| Meals | 14,877 | 603 | 15,480 | Add Interest | |||||||||
| Youth | 1,500 | 1,500 | earned | 154 | |||||||||
| RC HamburgHaake | 9 | 9 | Transfers | ||||||||||
| International | 504 | 504 | in(from CAF1) | ||||||||||
| Social | 5,311 | 5,311 | Transfers | ||||||||||
| Subs & Admin | 5,588 | 5,588 | out | 105 | |||||||||
| Raffle | 4,306 | 1,304 | 5,610 | Bal as at | |||||||||
| Foundation | 4,159 | 4,159 | 30.6.23 | 4,687 | |||||||||
| Float repairs | 2,089 | 2,089 | |||||||||||
| Sundies/Transfers | 240 | 240 | |||||||||||
| Golf day | 5,468 | 5,468 | |||||||||||
| 50th Anniversary | 4,800 | 4,800 | |||||||||||
| Gift Aid | 1,819 | 1,819 | |||||||||||
| Donations | 94 | 1,301 | 1,395 | ||||||||||
| Marvellous Festival | - | ||||||||||||
| X'mas float | 6,734 | 6,734 | |||||||||||
| Memorial Garden | 595 | 595 | |||||||||||
| Environment | 927 | 927 | |||||||||||
| - | |||||||||||||
| Good News income | 488 | 488 | |||||||||||
| Interest | 26 | 23 | 49 | ||||||||||
| Speakers | 95 | 95 | |||||||||||
| Audit Adjustment | - | ||||||||||||
| Auction | 1,300 | 1,300 | |||||||||||
| - | |||||||||||||
| Recruitment | 929 | 929 | |||||||||||
| Less Opening Balance | -12,814 | 14,437 - |
-1,000 | 28,251 - |
|||||||||
| Income Sub-total | 23,709 | 20,473 | 9126 | 53308 | 53,308 | ||||||||
| Expenditure | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Events | - | ||||||||||
| Donations | 18,720 | 4,400 | 23,120 | ||||||||
| Meals | 11,180 | 3,708 | 14,888 | ||||||||
| RC HamburgHaarke | - | ||||||||||
| International | - | - | - | ||||||||
| Social | 4,321 | 4,321 | |||||||||
| Subs & Admin | 3,745 | 3,745 | |||||||||
| Raffle | 2,348 | 2,348 | |||||||||
| Foundation | 2,331 | 2,331 | |||||||||
| Shop/Reg | - | ||||||||||
| Good News Golf Halfway House Prizes Simply Music Gift Aid |
448 | 448 | |||||||||
| - | |||||||||||
| 150 | |||||||||||
| 868 | |||||||||||
| - | - | ||||||||||
| 135 | 135 | ||||||||||
| Interest Sundries |
- | - | |||||||||
| 379 | 1,007 | ||||||||||
| Donations-Golf | |||||||||||
| Youth | 885 | 885 | |||||||||
| Recruitment | 76 | 76 | |||||||||
| Speakers | - | ||||||||||
| float repairs | - | ||||||||||
| Expenditure Sub-total | 22,118 | - | 22,450 | 9126 | 53694 | ||||||
| Net revenue for theyear | 1,592 | 1,977 - |
0 | -386 | |||||||
| Opening Cashbook balance at 1.7.21 |
12814 | 14,438 | 1000 | 28252 | |||||||
| Net revenue for the year | 1592 | -1977 | 0 | -385 | |||||||
| 14406 | 12,461 | 1000 | 27867 | ||||||||
| Notes to the accounts year ending 30.06.2023 | |||||||||||
| The figures have been compiled on the basis of actual receipts and actual payments. They include opening balances as at 01.07.22but thesehave beendeductedwherenecessary to show netincome/expenditureforthe year. |
|||||||||||
| These accountwere prepared byBobHyatt (Treasurer) and audited by | byDon Worthy | Assisted by JeremyEatough | |||||||||
To: Bob Hyatt, Treasurer, Rotary Club of Loddon Vale-2022/2023
cc. Caroline Carrell – President, Peter Lewis - Immediate Past President), Jeremy Eatough - Assistant Internal Examiner of Accounts . Date: 30 August 2023
Re: Audit Report on the Rotary Club of Loddon Vale Financial Accounts /Books General Account (CAF No. 1); Trust Charity Account (CAF No. 2); CAF Gold Account and NatWest Special Events Charity Account.
The following process was used by Don Worthy, Internal Examiner of Accounts in examining the RCLV Financial Accounts for the year (1[st] July 2022 to 30[th] June 2023): -
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 30 August
-
Check Entries from Bank Accounts into Cash Book for all accounts and do preliminary reconciliations.
-
Completed 30 August
-
Check entries from Cheque Book stubs and Paying-In Book into Bank Accounts for all accounts (including check on sequential numbers of transactions).
- Completed 30
August
- Check Receipts vouchers and Invoices to Cash Book Entries for all main accounts.
Completed 30 August
- Check analysis of receipts/payments in Cash Books into different analysis accounts e.g. Meals, International, Social, Subscriptions, Raffle, and Sundries. (all transactions)
Completed 30 August
6. Reconcile Closing Balances and Sign that Books have been satisfactorily examined and date (including Totals and Individual Account totals).
- Completed 30 August
7. Conclusions
Summary of conclusions are:-
-
The Accounts have been kept with good supporting documentation.
-
Reconciliation of the closing balance at 30[th] June 2023 of the General (Members) Account (CAF No. 1) with its relevant bank balance has been achieved.
-
Reconciliation of the closing cashbook balance at 30[th] June 2023 of the Charity Account (CAF No. 2) with its relevant bank statement balance has been achieved.
-
Reconciliation of the Gold Reserve Account cashbook balance at 30[th] June 2023 with its bank statement balance has been achieved.
-
Reconciliation of the closing cashbook balance at 30[th] June 2023 of the NatWest Special Events Charity Account with its relevant bank statement balance has been achieved.
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 any action required has been agreed.
COMMENTS
8. General (CAF no.1) Account
-
Cashbook closing balance on 30 June 2023 of £14,406.04 reconciled exactly with the closing Bank Statement for the same period – No further action required.
-
Analysis of entries in Cashbook generally good, one or two misallocations and some vouchers/invoices missing that have been rectified.
-
Opening cashbook balance for 1 July 2023 is £14,406.04
-
].
9. Trust (CAF no.2) Account
-
Cashbook closing balance on 30[th] June 2023 of £12,461.28 reconciled exactly with the closing Bank Statement for the same period – No further action required.
-
Analysis of entries in cashbook generally good, one or two misallocations and some vouchers/invoices missing that have been explained.
-
Opening cashbook balance for 1 July 2023 is £12,461.28 .
10. Deposit (CAF Gold) Account
-
Reconciled
-
No further analysis required.
-
Opening cashbook balance for 1 July 2023 is £4,687.
11. NatWest Special Events Charity Account – (Golf Day)
-
Following a minor adjustment caused by late payment cashbook balance of £1,000.00 reconciles exactly with Bank Statement
-
No further action required. Opening balance for 1[st] July 2023 is £1,000
12. RECOMMENDATOINS
-
Data Protection
-
To meet current and forthcoming Data Protection legislation only new paper should be used
-
Unpresented cheques
-
To address the issue of unpresented cheques, it is recommended that, unless necessary, all donations should be made by BACS after the formal presentation (large imitation cheques, A4/A3 size, can be mocked up and used for the formal presentation and photo shoot). Where it is deemed necessary to pay by cheque, then the cheque should be made out on the day, not in advance.
-
Incomplete Cheque Stubs
-
Ensure cheque stubs are fully completed for each and every cheque.
This ends my report.
Don Worthy
Internal Examiner of RCLV Financial Accounts (2022-2023)