Treasurer Report for AGM November 2022
Overview
Financially Busy Beavers made a loss of £4666. This is mostly due to NCC funding being lower this year as the amount of children currently registered is less than previous years. However the bank account is still looking healthy due to the group having made a profit over the past few years. For me this is the first year that the group has finished in a negative and I have been on the committee for the last 5yrs.
Income
The group received funding and fees of £64,619. Fundraising from selling sweets/hot chocolate cones, raffles, sponsored bike ride, teddy bear stall, Dvds, Tea towels etc. brought in a profit of £1573.00.
Expenses
The biggest expense is Staff wages which is unavoidable, being a total of £57,735.56 of the overall costs and then rent with a monthly cost of £750.00 giving a total of £9000 for the year.
Bank Account
Current balance is £45,524.21, with £2359 having been moved into the business savings account for the redundancy funds – this account now has a balance of £24,102.33.
Forecast
With Covid having affected the fund raising for the last few years with not being able to have the annual Christmas fayre since 2019 and with children numbers being low (I’m not sure on how many we have on the waiting list or due to start in January 2023)
Fundraising really needs to be top of the list to try and make up for the loss from over the last year and to help keep the group running in the future.
Having said that the bank account is healthy but if the NCC funding continues to decrease and with staff wages only going to increase in the future (Minimum wage is increasing to £10.42 from April 2023) we could find ourselves facing another loss at the end of the year. I think advertising of the group to be a very major factor going forward, we now have the new banner up advertising the group and hopefully this will help generate more enquires.
If we could look at promoting the group more on social media sites like Face Book – Catton Life etc. and updating the group pages with photo’s of what the set-up looks like on a daily basis and what the children have been getting up to this may help as well. Also a leaflet drop to all the new build sites locally, as these are unlikely to be aware of the group as we mostly survive on word of mouth.
Colleen Girling Treasurer Busy Beavers Playgroup Committee
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