2023-03-31-accounts - Cam, Dursley & District U3A

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CAM, DURSLEY and DISTRICT

ANNUAL FINANCIAL REPORT FY 2022/2023

Prepared By:

John Walton John Hobson Treasurer Assistant Treasurer Cam, Dursley and District U3A Cam, Dursley and District U3A 27 May 23 27 May 23

CONTENTS

CONTENTS
	Page(s)
Message from the Treasurer ........................................................................................................	2-4
Independent Examiner’s Certificate .............................................................................................	5
Statement of Financial Activity for the Financial Year ended 31st March 2023:
Part 1 – Receipts and Payments Account ..........................................................................	6-7
Part 2 – Liquidity Statement ................................................................................................	8
Part 3 - Overall Summary of HCT Account Financial Activity FY 22/23.............................	9
Part 4 - Detailed Summary of LCT Groups Financial Activity FY 22/23 .............................	10
Part 5 - Overall Summary of LCT Groups Financial Position as at 31st March 2023........	11

MESSAGE FROM THE TREASURER

I’m pleased to present the Treasurer’s Report for the Financial Year (FY) 2022/2023. I hope that you will find this information both informative and interesting.
Before I launch into financial matters, I would just like to say a couple of thank yous. Firstly, I would like to thank, once again, John Hobson, my Assistant Treasurer. John, himself, only took over his role not too long before me but he continues to be a very calm and knowledgeable individual and his experience and advice have been invaluable to me in my role of Treasurer. So, once again, thank you to John. Secondly, I would like to thank all of the Low Cash Turnover (LCT) Group Leaders/Finance Managers. Early on this FY, I had a meeting with Group Leaders to discuss reporting requirements and although the message that I tried to get across may have been a little confusing, my one major philosophy – it is not the way that data is recorded and reported that is important, but the data itself; has really come through. Reports of income/outgoings have been varied in style but all share common themes – they are accurate and they are easy to understand. Therefore, I thank all LCT Group Leaders/Finance Managers for their patience and their efforts – long may it continue!
As with last year, I don’t intend to take you through the accounts line by line, but I want to concentrate more on a “ State of the Nation ” – i.e. “w here have we been, where are we now and where are we going? ”. The past Financial Year has been the first full year that has been completely free of Covid-19 and lockdown - and the Cam, Dursley and District (CDD) u3a has certainly blossomed, with a substantial return to “ traditional ” u3a activity. Although there have been a few Group closures (but realistically, not many); as at 31 Mar 23, we had 630 members and 48 active groups. Perhaps the high spot of the year (though I’m not sure that Pam Davis would agree as she bore the brunt of the organisation – however, she deserves a huge vote of thanks for it) was the Open Day in Oct 22. On the day, we had 103 new, signedup and paid-up members and several new Groups have been created because of it (indeed the newlyformed Whist Group is already full and now has a Waiting List). In addition, the return to a face-to-face Christmas Quiz, hinted at in my last report, actually took place on the 15[th] Dec 2022 and from the number of people that I have spoken to, it was a great success. The mulled wine and mince pies at half time went down a treat (indeed, although I am not a great cake eater, even I was moved to try a mince pie – they were delicious). Thanks should go to Jane Ball, the Quizmaster and to Mary Ewens and her team for the refreshments. Although it hasn’t been decided yet, I would be very surprised if there wasn’t a repeat performance this year.
I started the year off by retaining the basic financial structure established by my predecessor Richard Barlow (3 separate bank accounts and 4 categories of Groups). The only change that I have made to this is to merge 2 Group categories (the No Reporting Required and Zero Cost) categories into a single category called the No Accounting Required (NAR) Category. Outwardly this will have no effect on the membership. In addition, I strongly believe that, as Treasurer, it is part of my responsibilities to advise the Chair and the Committee of any potential problems, so that timely action may be set in place to counter them (if necessary). To this end (and we don’t set a fixed reserve for contingencies), I’ve retained the philosophy and practice of regularly examining our accounts to establish how well we are positioned to pay off any outstanding commitments in the inconceivable circumstance of us having to close at short notice.
So, at the end of this FY, the u3a has moved from an organisation doing its best to continue during the dark days of Covid-19 Lockdown to a traditional, fully operating u3a. All things considered, financially, we are in a sound and stable position, we have more members and more groups than ever before and we are well placed to go forward with a high degree of confidence. The future is looking good.
All that said, I propose a major initiative that I wish to bring to your attention:
An important aspiration for the future, for me as Treasurer, is to make life easier for my eventual successor. To this end, I would like to move away from the way in which we do our accounting, from the present Microsoft Excel-based system to the Financial Package on Beacon. There are 2 strong reasons for this:
The present Excel system works very well but it does rely on the Treasurer having a very good knowledge of Excel plus long experience, a thorough understanding and a high degree of confidence in using the application. Whilst I fit the bill, there is no guarantee that my successor will be so well-versed, and it would be unfair to ask him/her to take it

on (indeed, it might even frighten people off from volunteering). I am therefore very much looking towards the future and making the life of my successor as easy as I can.

The Financial Package on Beacon seems to be (on initial examination) very good (if a little complicated to set up). Moreover, it has the advantage of having official support and a comprehensive set of User Instructions. It will also offer greater inbuilt data security.

The downside is that there is a lot of work to be done in getting it up and running. Therefore, I have conjured up the following outline timetable:

FY 23-24 – Development Year - Use of a Sandbox[1] , examination of procedures and assessment of any need for new ways of working, inviting specialist input, set up a Working Group etc.
FY 24-25 – Run the old (Excel) and the new (Beacon) systems in parallel.
FY 25-26 – Turn off the old system and go live on Beacon.
FY 26-27 – Handover to the new Treasurer.

Of course, you would be quite right to be concerned about risk and wonder if I will be around to see it through. Our constitution provides for the Treasurer to remain in post for up to 6 years. I was elected at the 2021 AGM so I could be around until the 2027 AGM which neatly fits my outline timetable. Circumstances permitting, I fully intend to see this project through. Finally on this subject, I intend to keep the Membership abreast of progress, and to this end, I will put a short resumé of progress in the Bulletin. I think that a monthly Progress Report would be excessive and that a quarterly Report would be more appropriate.

The remainder of this report comprises a detailed Statement of Financial Activity for the FY 22/23. It contains:
Independent Examiner’s Certificate. Although we are required to produce accounts, they do not need to be formally audited. However, they do have to be examined by a qualified and independent Examiner. The Independent Examiner’s Certificate is reproduced on Page 5.
Statement of Financial Activity for the Financial Year ended 31st March 2023. This statement is a detailed description of our financial activity over the past Financial Year. The statement is presented in 5 parts:
- Part 1 – Receipts and Payments Account. The Receipts and Payments Account is a detailed description of where our money has come from and where it has gone, for the Main (2029) account and summaries of financial activity for the High Cash Turnover (HCT) Groups (151 account) and LCT Groups (6872 account).
- Part 2 – Liquidity Statement. The Liquidity Statement[2] describes what we are worth as at 31 Mar 23.
- Part 3 - Overall Summary of HCT Account Financial Activity FY 22/23. This shows the financial activity of the HCT Groups over the last FY.
- Part 4 - Detailed Summary of LCT Groups Financial Activity FY 22/23. This shows the financial activity (both Bank and Cash Activity) of the LCT Groups over the last FY.

A Sandbox, in this context, is a mirror image of the real thing but entirely stand-alone. This allows a developer to “experiment” with ideas to see how well they work.

For the purposes of this report, Liquid Assets may be considered to be those assets which can rapidly be turned into useable money. So, for example, Bank and Cash accounts are deemed to be ”Liquid Assets”. However, if we owned a building (which we don’t), this is most definitely an asset but it couldn’t rapidly be turned into cash, so it is not a “Liquid” Asset (it would be a “Fixed Asset”).

Part 5 - LCT Groups – Overall Summary of Financial Position as at 31 Mar 23. This shows a summary (both Bank and Cash holdings) of the LCT Groups financial activity, together with a statement of overall “worth” of each Group.

John Walton Treasurer Cam, Dursley and District U3A

INDEPENDENT EXAMINER'S REPORT EPENDENT EXAMIN I have examined the Year End Financial Statement for FY 2022-2023, togothar wtth Liquidty Ststement for thal riod. and l Certify that they are a Irue and aGrat8 representation of the Cam. Dursley and Distrid U3A finanL?al acaivty in accordance with th8 records presented to me. REP RT Signed: .. 27 May 23 Mr C Wellings Accounlant Trytan Clingre Down, Tats Hill Gloucestershire GL116PS

CAM, DURSLEY AND DISTRICT U3A – STATEMENT OF FINANCIAL ACTIVITY FOR THE FINANCIAL YEAR ENDED 31[st] MARCH 2023 PART 1 - RECEIPTS AND PAYMENTS ACCOUNT

MAIN ACCOUNT (2029)

140.60 372.58 142.95 151.82 627.31 671.91 281.75 28.84	86.58 67.92 36.11 55.18 169.73 88.84 62.34	31 Mar 22 7879.12 22.20 5362.00 23.45 331.00
		13617.77
		566.70 484.25 435.00 2868.82 148.60 9075.85 38.55
365.00 151.05	470.00 14.25
681.00 127.00	405.00 30.00
1884.00 477.00 1236.60	1554.00 445.00 869.82
62.94 12.79 14.67 54.30 14.00	126.10 22.50

		13617.77

Main Account (2029 Account) (Continued)

Main Account (2029 Account) (Continued)
31 Mar 23 Bank Opening Balance 9075.85 Credits 5205.19 Debits -7415.11 Closing Balance 6865.93 Change in Bank Balance (Closing Balance – Opening Balance) -2209.92 Cash Opening Balance 38.55 Credits 1089.81 Debits -1048.00 Closing Balance 80.36 Change in Cash Balance (Closing Balance – Opening Balance) 41.81 Total Change in Worth (Closing Balance [Bank + Cash] – Opening Balance [Bank + Cash]) -2168.11 High Cash Turnover (HCT) Account (151 Account)3 Opening Balance 1901.72 Credits 24492.35 Debits -20945.90 Closing Balance 5448.17 Change in Bank Balance (Closing Balance – Opening Balance) 3546.45 Low Cash Turnover (LCT) Account (6872 Account)4 Bank Opening Balance 497.87 Credits 35.00 Debits -519.78 Closing Balance 13.09 Change in Bank Balance (Closing Balance – Opening Balance) -484.78 Cash Opening Balance 541.26 Credits 5159.38 Debits -5110.20 Closing Balance 590.44 Change in Cash Balance (Closing Balance – Opening Balance) 49.18 Change in Worth (Closing Balance [Bank + Cash] – Opening Balance [Bank + Cash]) -435.60	31 Mar 22 7879.12 5611.26 -4414.53
	9075.85 1196.73 22.20 226.35 -210.00
	38.55 16.35 1213.08 799.04 14655.95 -13563.27
	1901.72 1102.68 710.55 451.10 -663.78
	497.87 -212.68 691.02 1403.74 -1553.50
	541.26 -149.76 -362.44

A Full Summary of the HCT Financial Activity is given on Page 9.

A Full Summary of the LCT Financial Activity is given on Pages 10 - 11.

PART 2 – LIQUIDITY STATEMENT

PART 2 – LIQUIDITY STATEMENT
31 Mar 23 ASSETS AS AT 31 MAR 23 Bank Balance (2029 Account) 6865.93 Cash Holdings (Main Account) 80.36 Additional Assets Total Main Account Assets as at 31 Mar 23 6946.29 GROUP ASSETS AS AT 31 MAR 23 HCT Groups (151 Bank Account) 5448.17 HCT Groups (Cash Holdings) 0.00 LCT Groups (6871 Bank Account) 13.09 LCT Groups(Cash Holdings) 590.44 Total Group Assets as at 31 Mar 23 6051.70 Total Cam, Dursley and District U3A Assets as at 31 Mar 23 12997.99	31 Mar 22 9075.85 38.55
	9114.40 1901.72 0.00 497.87 541.26
	2940.85 12055.25

PART 3 - OVERALL SUMMARY OF HCT ACCOUNT FINANCIAL ACTIVITY FY 22/23

Group Name	Opening Balance	Income	Outgoings	Closing Balance	Comments
Science and Engineering (SAE)	332.54	2819.80	-2863.15	289.19
Theatre(THG)	553.52	5540.40	-5199.45	894.47
Historic Places(HPL)	375.78	12647.45	-11036.38	1986.85
Church Explorers(CHX)	18.07		-18.07	0.00	GroupClosed. Balance moved to Main Account
Gardening (GRD)	573.96	2852.50	-1179.00	2247.46
U3A August Outing (AUGUST)	-0.30	0.30		0.00	Groupmoved to Main Account
Members On Their Own(MOTO)	45.20		-15.00	30.20
Concert CON)	2.95	576.85	-579.80	0.00	GroupClosed. Balance moved to Main Account
Miscellaneous(MISC)	0.00			0.00
Suspense (SUSP)	0.00	55.05	-55.05	0.00
Totals	1901.72	24492.35	-20945.90	5448.17

PART 4 - DETAILED SUMMARY OF LCT GROUPS FINANCIAL ACTIVITY FY 22/23

Group Name		BANK	BANK			CASH	CASH
	Opening Balance	Income	Outgoings	Closing Balance	Opening Balance	Income	Outgoings	Closing Balance
Core Sub-Account (CORE)	323.78		-323.78	0.00		0.00	0.00	0.00
Acoustic Guitar (ACG)				0.00	1.00	184.00	-181.00	4.00
Art History (ARH)	60.00	30.00	-81.00	9.00	46.75	277.00	-229.00	94.75
Badminton (BDM)				0.00	21.03	1092.55	-1106.80	6.78
Bridge (BRD)	114.09	5.00	-115.00	4.09	55.26	1387.32	-1399.11	43.47
Chapter IV (B04)				0.00	4.00	193.10	-180.00	17.10
Craft & Textile (C&T)				0.00	19.00	249.00	-208.29	59.71
Dowsing for Beginners (DOW)				0.00	4.71	313.39	-188.00	130.10
Family History (FAH)				0.00	82.00	90.00	-121.00	51.00
French Intermediate (FRI)				0.00	73.35	150.00	-203.03	20.32
IT Help (LCT)				0.00	61.10	101.00	-117.00	45.10
Kurling (KUR)				0.00	34.79	505.02	-521.74	18.07
Natural History (NAH)				0.00	115.97	143.00	-228.61	30.36
Play Reading (PLR)				0.00	-11.00	59.00	-32.00	16.00
Travel (TRV)				0.00	33.30	207.00	-223.62	16.68
Writers Workshop (WWK)				0.00		108.00	-80.00	28.00
Whist (WHT)				0.00		100.00	-91.00	9.00
	497.87	35.00	-519.78	13.09	541.26	5159.38	-5110.20	590.44

PART 5 -– OVERALL SUMMARY OF LCT GROUPS FINANCIAL POSITION AS AT 31st MARCH 2023

Group	Closing Balance (Bank)	Closing Balance (Cash)	Total Assets	Comments
Core Sub-Account (CORE)			0.00	Opening Balance of £323.78p moved to Main Account
Acoustic Guitar (ACG)		4.00	4.00
Art History (ARH)	9.00	94.75	103.75
Badminton (BDM)		6.78	6.78
Bridge (BRD)	4.09	43.47	47.56
Chapter IV (B04)		17.10	17.10
Craft & Textile (C&T)		59.71	59.71
Dowsing for Beginners (DOW)		130.10	130.10
Family History (FAH)		51.00	51.00
French Intermediate (FRI)		20.32	20.32
IT Help (LCT)		45.10	45.10
Kurling (KUR)		18.07	18.07
Natural History (NAH)		30.36	30.36
Play Reading (PLR)		16.00	16.00
Travel (TRV)		16.68	16.68
Writers Workshop (WWK)		28.00	28.00
Whist (WHT)		9.00	9.00	New Group – started in Jan 23
Totals	13.09	590.44	603.53

CAM, DURSLEY and DISTRICT

ANNUAL FINANCIAL REPORT FY 2022/2023

Prepared By:

John Walton John Hobson Treasurer Assistant Treasurer Cam, Dursley and District U3A Cam, Dursley and District U3A 27 May 23 27 May 23

CONTENTS

CONTENTS
	Page(s)
Message from the Treasurer ........................................................................................................	2-4
Independent Examiner’s Certificate .............................................................................................	5
Statement of Financial Activity for the Financial Year ended 31st March 2023:
Part 1 – Receipts and Payments Account ..........................................................................	6-7
Part 2 – Liquidity Statement ................................................................................................	8
Part 3 - Overall Summary of HCT Account Financial Activity FY 22/23.............................	9
Part 4 - Detailed Summary of LCT Groups Financial Activity FY 22/23 .............................	10
Part 5 - Overall Summary of LCT Groups Financial Position as at 31st March 2023........	11

MESSAGE FROM THE TREASURER

I’m pleased to present the Treasurer’s Report for the Financial Year (FY) 2022/2023. I hope that you will find this information both informative and interesting.
Before I launch into financial matters, I would just like to say a couple of thank yous. Firstly, I would like to thank, once again, John Hobson, my Assistant Treasurer. John, himself, only took over his role not too long before me but he continues to be a very calm and knowledgeable individual and his experience and advice have been invaluable to me in my role of Treasurer. So, once again, thank you to John. Secondly, I would like to thank all of the Low Cash Turnover (LCT) Group Leaders/Finance Managers. Early on this FY, I had a meeting with Group Leaders to discuss reporting requirements and although the message that I tried to get across may have been a little confusing, my one major philosophy – it is not the way that data is recorded and reported that is important, but the data itself; has really come through. Reports of income/outgoings have been varied in style but all share common themes – they are accurate and they are easy to understand. Therefore, I thank all LCT Group Leaders/Finance Managers for their patience and their efforts – long may it continue!
As with last year, I don’t intend to take you through the accounts line by line, but I want to concentrate more on a “ State of the Nation ” – i.e. “w here have we been, where are we now and where are we going? ”. The past Financial Year has been the first full year that has been completely free of Covid-19 and lockdown - and the Cam, Dursley and District (CDD) u3a has certainly blossomed, with a substantial return to “ traditional ” u3a activity. Although there have been a few Group closures (but realistically, not many); as at 31 Mar 23, we had 630 members and 48 active groups. Perhaps the high spot of the year (though I’m not sure that Pam Davis would agree as she bore the brunt of the organisation – however, she deserves a huge vote of thanks for it) was the Open Day in Oct 22. On the day, we had 103 new, signedup and paid-up members and several new Groups have been created because of it (indeed the newlyformed Whist Group is already full and now has a Waiting List). In addition, the return to a face-to-face Christmas Quiz, hinted at in my last report, actually took place on the 15[th] Dec 2022 and from the number of people that I have spoken to, it was a great success. The mulled wine and mince pies at half time went down a treat (indeed, although I am not a great cake eater, even I was moved to try a mince pie – they were delicious). Thanks should go to Jane Ball, the Quizmaster and to Mary Ewens and her team for the refreshments. Although it hasn’t been decided yet, I would be very surprised if there wasn’t a repeat performance this year.
I started the year off by retaining the basic financial structure established by my predecessor Richard Barlow (3 separate bank accounts and 4 categories of Groups). The only change that I have made to this is to merge 2 Group categories (the No Reporting Required and Zero Cost) categories into a single category called the No Accounting Required (NAR) Category. Outwardly this will have no effect on the membership. In addition, I strongly believe that, as Treasurer, it is part of my responsibilities to advise the Chair and the Committee of any potential problems, so that timely action may be set in place to counter them (if necessary). To this end (and we don’t set a fixed reserve for contingencies), I’ve retained the philosophy and practice of regularly examining our accounts to establish how well we are positioned to pay off any outstanding commitments in the inconceivable circumstance of us having to close at short notice.
So, at the end of this FY, the u3a has moved from an organisation doing its best to continue during the dark days of Covid-19 Lockdown to a traditional, fully operating u3a. All things considered, financially, we are in a sound and stable position, we have more members and more groups than ever before and we are well placed to go forward with a high degree of confidence. The future is looking good.
All that said, I propose a major initiative that I wish to bring to your attention:
An important aspiration for the future, for me as Treasurer, is to make life easier for my eventual successor. To this end, I would like to move away from the way in which we do our accounting, from the present Microsoft Excel-based system to the Financial Package on Beacon. There are 2 strong reasons for this:
The present Excel system works very well but it does rely on the Treasurer having a very good knowledge of Excel plus long experience, a thorough understanding and a high degree of confidence in using the application. Whilst I fit the bill, there is no guarantee that my successor will be so well-versed, and it would be unfair to ask him/her to take it

on (indeed, it might even frighten people off from volunteering). I am therefore very much looking towards the future and making the life of my successor as easy as I can.

The Financial Package on Beacon seems to be (on initial examination) very good (if a little complicated to set up). Moreover, it has the advantage of having official support and a comprehensive set of User Instructions. It will also offer greater inbuilt data security.

The downside is that there is a lot of work to be done in getting it up and running. Therefore, I have conjured up the following outline timetable:

FY 23-24 – Development Year - Use of a Sandbox[1] , examination of procedures and assessment of any need for new ways of working, inviting specialist input, set up a Working Group etc.
FY 24-25 – Run the old (Excel) and the new (Beacon) systems in parallel.
FY 25-26 – Turn off the old system and go live on Beacon.
FY 26-27 – Handover to the new Treasurer.

The remainder of this report comprises a detailed Statement of Financial Activity for the FY 22/23. It contains:
Independent Examiner’s Certificate. Although we are required to produce accounts, they do not need to be formally audited. However, they do have to be examined by a qualified and independent Examiner. The Independent Examiner’s Certificate is reproduced on Page 5.
Statement of Financial Activity for the Financial Year ended 31st March 2023. This statement is a detailed description of our financial activity over the past Financial Year. The statement is presented in 5 parts:
- Part 1 – Receipts and Payments Account. The Receipts and Payments Account is a detailed description of where our money has come from and where it has gone, for the Main (2029) account and summaries of financial activity for the High Cash Turnover (HCT) Groups (151 account) and LCT Groups (6872 account).
- Part 2 – Liquidity Statement. The Liquidity Statement[2] describes what we are worth as at 31 Mar 23.
- Part 3 - Overall Summary of HCT Account Financial Activity FY 22/23. This shows the financial activity of the HCT Groups over the last FY.
- Part 4 - Detailed Summary of LCT Groups Financial Activity FY 22/23. This shows the financial activity (both Bank and Cash Activity) of the LCT Groups over the last FY.

A Sandbox, in this context, is a mirror image of the real thing but entirely stand-alone. This allows a developer to “experiment” with ideas to see how well they work.

For the purposes of this report, Liquid Assets may be considered to be those assets which can rapidly be turned into useable money. So, for example, Bank and Cash accounts are deemed to be ”Liquid Assets”. However, if we owned a building (which we don’t), this is most definitely an asset but it couldn’t rapidly be turned into cash, so it is not a “Liquid” Asset (it would be a “Fixed Asset”).

Part 5 - LCT Groups – Overall Summary of Financial Position as at 31 Mar 23. This shows a summary (both Bank and Cash holdings) of the LCT Groups financial activity, together with a statement of overall “worth” of each Group.

John Walton Treasurer Cam, Dursley and District U3A

CAM, DURSLEY AND DISTRICT U3A – STATEMENT OF FINANCIAL ACTIVITY FOR THE FINANCIAL YEAR ENDED 31[st] MARCH 2023 PART 1 - RECEIPTS AND PAYMENTS ACCOUNT

MAIN ACCOUNT (2029)

140.60 372.58 142.95 151.82 627.31 671.91 281.75 28.84	86.58 67.92 36.11 55.18 169.73 88.84 62.34	31 Mar 22 7879.12 22.20 5362.00 23.45 331.00
		13617.77
		566.70 484.25 435.00 2868.82 148.60 9075.85 38.55
365.00 151.05	470.00 14.25
681.00 127.00	405.00 30.00
1884.00 477.00 1236.60	1554.00 445.00 869.82
62.94 12.79 14.67 54.30 14.00	126.10 22.50

		13617.77

Main Account (2029 Account) (Continued)

Main Account (2029 Account) (Continued)
31 Mar 23 Bank Opening Balance 9075.85 Credits 5205.19 Debits -7415.11 Closing Balance 6865.93 Change in Bank Balance (Closing Balance – Opening Balance) -2209.92 Cash Opening Balance 38.55 Credits 1089.81 Debits -1048.00 Closing Balance 80.36 Change in Cash Balance (Closing Balance – Opening Balance) 41.81 Total Change in Worth (Closing Balance [Bank + Cash] – Opening Balance [Bank + Cash]) -2168.11 High Cash Turnover (HCT) Account (151 Account)3 Opening Balance 1901.72 Credits 24492.35 Debits -20945.90 Closing Balance 5448.17 Change in Bank Balance (Closing Balance – Opening Balance) 3546.45 Low Cash Turnover (LCT) Account (6872 Account)4 Bank Opening Balance 497.87 Credits 35.00 Debits -519.78 Closing Balance 13.09 Change in Bank Balance (Closing Balance – Opening Balance) -484.78 Cash Opening Balance 541.26 Credits 5159.38 Debits -5110.20 Closing Balance 590.44 Change in Cash Balance (Closing Balance – Opening Balance) 49.18 Change in Worth (Closing Balance [Bank + Cash] – Opening Balance [Bank + Cash]) -435.60	31 Mar 22 7879.12 5611.26 -4414.53
	9075.85 1196.73 22.20 226.35 -210.00
	38.55 16.35 1213.08 799.04 14655.95 -13563.27
	1901.72 1102.68 710.55 451.10 -663.78
	497.87 -212.68 691.02 1403.74 -1553.50
	541.26 -149.76 -362.44

A Full Summary of the HCT Financial Activity is given on Page 9.

A Full Summary of the LCT Financial Activity is given on Pages 10 - 11.

PART 2 – LIQUIDITY STATEMENT

PART 2 – LIQUIDITY STATEMENT
31 Mar 23 ASSETS AS AT 31 MAR 23 Bank Balance (2029 Account) 6865.93 Cash Holdings (Main Account) 80.36 Additional Assets Total Main Account Assets as at 31 Mar 23 6946.29 GROUP ASSETS AS AT 31 MAR 23 HCT Groups (151 Bank Account) 5448.17 HCT Groups (Cash Holdings) 0.00 LCT Groups (6871 Bank Account) 13.09 LCT Groups(Cash Holdings) 590.44 Total Group Assets as at 31 Mar 23 6051.70 Total Cam, Dursley and District U3A Assets as at 31 Mar 23 12997.99	31 Mar 22 9075.85 38.55
	9114.40 1901.72 0.00 497.87 541.26
	2940.85 12055.25

PART 3 - OVERALL SUMMARY OF HCT ACCOUNT FINANCIAL ACTIVITY FY 22/23

Group Name	Opening Balance	Income	Outgoings	Closing Balance	Comments
Science and Engineering (SAE)	332.54	2819.80	-2863.15	289.19
Theatre(THG)	553.52	5540.40	-5199.45	894.47
Historic Places(HPL)	375.78	12647.45	-11036.38	1986.85
Church Explorers(CHX)	18.07		-18.07	0.00	GroupClosed. Balance moved to Main Account
Gardening (GRD)	573.96	2852.50	-1179.00	2247.46
U3A August Outing (AUGUST)	-0.30	0.30		0.00	Groupmoved to Main Account
Members On Their Own(MOTO)	45.20		-15.00	30.20
Concert CON)	2.95	576.85	-579.80	0.00	GroupClosed. Balance moved to Main Account
Miscellaneous(MISC)	0.00			0.00
Suspense (SUSP)	0.00	55.05	-55.05	0.00
Totals	1901.72	24492.35	-20945.90	5448.17

PART 4 - DETAILED SUMMARY OF LCT GROUPS FINANCIAL ACTIVITY FY 22/23

Group Name		BANK	BANK			CASH	CASH
	Opening Balance	Income	Outgoings	Closing Balance	Opening Balance	Income	Outgoings	Closing Balance
Core Sub-Account (CORE)	323.78		-323.78	0.00		0.00	0.00	0.00
Acoustic Guitar (ACG)				0.00	1.00	184.00	-181.00	4.00
Art History (ARH)	60.00	30.00	-81.00	9.00	46.75	277.00	-229.00	94.75
Badminton (BDM)				0.00	21.03	1092.55	-1106.80	6.78
Bridge (BRD)	114.09	5.00	-115.00	4.09	55.26	1387.32	-1399.11	43.47
Chapter IV (B04)				0.00	4.00	193.10	-180.00	17.10
Craft & Textile (C&T)				0.00	19.00	249.00	-208.29	59.71
Dowsing for Beginners (DOW)				0.00	4.71	313.39	-188.00	130.10
Family History (FAH)				0.00	82.00	90.00	-121.00	51.00
French Intermediate (FRI)				0.00	73.35	150.00	-203.03	20.32
IT Help (LCT)				0.00	61.10	101.00	-117.00	45.10
Kurling (KUR)				0.00	34.79	505.02	-521.74	18.07
Natural History (NAH)				0.00	115.97	143.00	-228.61	30.36
Play Reading (PLR)				0.00	-11.00	59.00	-32.00	16.00
Travel (TRV)				0.00	33.30	207.00	-223.62	16.68
Writers Workshop (WWK)				0.00		108.00	-80.00	28.00
Whist (WHT)				0.00		100.00	-91.00	9.00
	497.87	35.00	-519.78	13.09	541.26	5159.38	-5110.20	590.44

PART 5 -– OVERALL SUMMARY OF LCT GROUPS FINANCIAL POSITION AS AT 31st MARCH 2023

Group	Closing Balance (Bank)	Closing Balance (Cash)	Total Assets	Comments
Core Sub-Account (CORE)			0.00	Opening Balance of £323.78p moved to Main Account
Acoustic Guitar (ACG)		4.00	4.00
Art History (ARH)	9.00	94.75	103.75
Badminton (BDM)		6.78	6.78
Bridge (BRD)	4.09	43.47	47.56
Chapter IV (B04)		17.10	17.10
Craft & Textile (C&T)		59.71	59.71
Dowsing for Beginners (DOW)		130.10	130.10
Family History (FAH)		51.00	51.00
French Intermediate (FRI)		20.32	20.32
IT Help (LCT)		45.10	45.10
Kurling (KUR)		18.07	18.07
Natural History (NAH)		30.36	30.36
Play Reading (PLR)		16.00	16.00
Travel (TRV)		16.68	16.68
Writers Workshop (WWK)		28.00	28.00
Whist (WHT)		9.00	9.00	New Group – started in Jan 23
Totals	13.09	590.44	603.53

CAM, DURSLEY and DISTRICT

ANNUAL FINANCIAL REPORT FY 2022/2023

Prepared By:

John Walton John Hobson Treasurer Assistant Treasurer Cam, Dursley and District U3A Cam, Dursley and District U3A 27 May 23 27 May 23

CONTENTS

CONTENTS
	Page(s)
Message from the Treasurer ........................................................................................................	2-4
Independent Examiner’s Certificate .............................................................................................	5
Statement of Financial Activity for the Financial Year ended 31st March 2023:
Part 1 – Receipts and Payments Account ..........................................................................	6-7
Part 2 – Liquidity Statement ................................................................................................	8
Part 3 - Overall Summary of HCT Account Financial Activity FY 22/23.............................	9
Part 4 - Detailed Summary of LCT Groups Financial Activity FY 22/23 .............................	10
Part 5 - Overall Summary of LCT Groups Financial Position as at 31st March 2023........	11

MESSAGE FROM THE TREASURER

I’m pleased to present the Treasurer’s Report for the Financial Year (FY) 2022/2023. I hope that you will find this information both informative and interesting.
Before I launch into financial matters, I would just like to say a couple of thank yous. Firstly, I would like to thank, once again, John Hobson, my Assistant Treasurer. John, himself, only took over his role not too long before me but he continues to be a very calm and knowledgeable individual and his experience and advice have been invaluable to me in my role of Treasurer. So, once again, thank you to John. Secondly, I would like to thank all of the Low Cash Turnover (LCT) Group Leaders/Finance Managers. Early on this FY, I had a meeting with Group Leaders to discuss reporting requirements and although the message that I tried to get across may have been a little confusing, my one major philosophy – it is not the way that data is recorded and reported that is important, but the data itself; has really come through. Reports of income/outgoings have been varied in style but all share common themes – they are accurate and they are easy to understand. Therefore, I thank all LCT Group Leaders/Finance Managers for their patience and their efforts – long may it continue!
As with last year, I don’t intend to take you through the accounts line by line, but I want to concentrate more on a “ State of the Nation ” – i.e. “w here have we been, where are we now and where are we going? ”. The past Financial Year has been the first full year that has been completely free of Covid-19 and lockdown - and the Cam, Dursley and District (CDD) u3a has certainly blossomed, with a substantial return to “ traditional ” u3a activity. Although there have been a few Group closures (but realistically, not many); as at 31 Mar 23, we had 630 members and 48 active groups. Perhaps the high spot of the year (though I’m not sure that Pam Davis would agree as she bore the brunt of the organisation – however, she deserves a huge vote of thanks for it) was the Open Day in Oct 22. On the day, we had 103 new, signedup and paid-up members and several new Groups have been created because of it (indeed the newlyformed Whist Group is already full and now has a Waiting List). In addition, the return to a face-to-face Christmas Quiz, hinted at in my last report, actually took place on the 15[th] Dec 2022 and from the number of people that I have spoken to, it was a great success. The mulled wine and mince pies at half time went down a treat (indeed, although I am not a great cake eater, even I was moved to try a mince pie – they were delicious). Thanks should go to Jane Ball, the Quizmaster and to Mary Ewens and her team for the refreshments. Although it hasn’t been decided yet, I would be very surprised if there wasn’t a repeat performance this year.
I started the year off by retaining the basic financial structure established by my predecessor Richard Barlow (3 separate bank accounts and 4 categories of Groups). The only change that I have made to this is to merge 2 Group categories (the No Reporting Required and Zero Cost) categories into a single category called the No Accounting Required (NAR) Category. Outwardly this will have no effect on the membership. In addition, I strongly believe that, as Treasurer, it is part of my responsibilities to advise the Chair and the Committee of any potential problems, so that timely action may be set in place to counter them (if necessary). To this end (and we don’t set a fixed reserve for contingencies), I’ve retained the philosophy and practice of regularly examining our accounts to establish how well we are positioned to pay off any outstanding commitments in the inconceivable circumstance of us having to close at short notice.
So, at the end of this FY, the u3a has moved from an organisation doing its best to continue during the dark days of Covid-19 Lockdown to a traditional, fully operating u3a. All things considered, financially, we are in a sound and stable position, we have more members and more groups than ever before and we are well placed to go forward with a high degree of confidence. The future is looking good.
All that said, I propose a major initiative that I wish to bring to your attention:
An important aspiration for the future, for me as Treasurer, is to make life easier for my eventual successor. To this end, I would like to move away from the way in which we do our accounting, from the present Microsoft Excel-based system to the Financial Package on Beacon. There are 2 strong reasons for this:
The present Excel system works very well but it does rely on the Treasurer having a very good knowledge of Excel plus long experience, a thorough understanding and a high degree of confidence in using the application. Whilst I fit the bill, there is no guarantee that my successor will be so well-versed, and it would be unfair to ask him/her to take it

on (indeed, it might even frighten people off from volunteering). I am therefore very much looking towards the future and making the life of my successor as easy as I can.

The Financial Package on Beacon seems to be (on initial examination) very good (if a little complicated to set up). Moreover, it has the advantage of having official support and a comprehensive set of User Instructions. It will also offer greater inbuilt data security.

The downside is that there is a lot of work to be done in getting it up and running. Therefore, I have conjured up the following outline timetable:

FY 23-24 – Development Year - Use of a Sandbox[1] , examination of procedures and assessment of any need for new ways of working, inviting specialist input, set up a Working Group etc.
FY 24-25 – Run the old (Excel) and the new (Beacon) systems in parallel.
FY 25-26 – Turn off the old system and go live on Beacon.
FY 26-27 – Handover to the new Treasurer.

The remainder of this report comprises a detailed Statement of Financial Activity for the FY 22/23. It contains:
Independent Examiner’s Certificate. Although we are required to produce accounts, they do not need to be formally audited. However, they do have to be examined by a qualified and independent Examiner. The Independent Examiner’s Certificate is reproduced on Page 5.
Statement of Financial Activity for the Financial Year ended 31st March 2023. This statement is a detailed description of our financial activity over the past Financial Year. The statement is presented in 5 parts:
- Part 1 – Receipts and Payments Account. The Receipts and Payments Account is a detailed description of where our money has come from and where it has gone, for the Main (2029) account and summaries of financial activity for the High Cash Turnover (HCT) Groups (151 account) and LCT Groups (6872 account).
- Part 2 – Liquidity Statement. The Liquidity Statement[2] describes what we are worth as at 31 Mar 23.
- Part 3 - Overall Summary of HCT Account Financial Activity FY 22/23. This shows the financial activity of the HCT Groups over the last FY.
- Part 4 - Detailed Summary of LCT Groups Financial Activity FY 22/23. This shows the financial activity (both Bank and Cash Activity) of the LCT Groups over the last FY.

A Sandbox, in this context, is a mirror image of the real thing but entirely stand-alone. This allows a developer to “experiment” with ideas to see how well they work.

For the purposes of this report, Liquid Assets may be considered to be those assets which can rapidly be turned into useable money. So, for example, Bank and Cash accounts are deemed to be ”Liquid Assets”. However, if we owned a building (which we don’t), this is most definitely an asset but it couldn’t rapidly be turned into cash, so it is not a “Liquid” Asset (it would be a “Fixed Asset”).

Part 5 - LCT Groups – Overall Summary of Financial Position as at 31 Mar 23. This shows a summary (both Bank and Cash holdings) of the LCT Groups financial activity, together with a statement of overall “worth” of each Group.

John Walton Treasurer Cam, Dursley and District U3A

CAM, DURSLEY AND DISTRICT U3A – STATEMENT OF FINANCIAL ACTIVITY FOR THE FINANCIAL YEAR ENDED 31[st] MARCH 2023 PART 1 - RECEIPTS AND PAYMENTS ACCOUNT

MAIN ACCOUNT (2029)

140.60 372.58 142.95 151.82 627.31 671.91 281.75 28.84	86.58 67.92 36.11 55.18 169.73 88.84 62.34	31 Mar 22 7879.12 22.20 5362.00 23.45 331.00
		13617.77
		566.70 484.25 435.00 2868.82 148.60 9075.85 38.55
365.00 151.05	470.00 14.25
681.00 127.00	405.00 30.00
1884.00 477.00 1236.60	1554.00 445.00 869.82
62.94 12.79 14.67 54.30 14.00	126.10 22.50

		13617.77

Main Account (2029 Account) (Continued)

Main Account (2029 Account) (Continued)
31 Mar 23 Bank Opening Balance 9075.85 Credits 5205.19 Debits -7415.11 Closing Balance 6865.93 Change in Bank Balance (Closing Balance – Opening Balance) -2209.92 Cash Opening Balance 38.55 Credits 1089.81 Debits -1048.00 Closing Balance 80.36 Change in Cash Balance (Closing Balance – Opening Balance) 41.81 Total Change in Worth (Closing Balance [Bank + Cash] – Opening Balance [Bank + Cash]) -2168.11 High Cash Turnover (HCT) Account (151 Account)3 Opening Balance 1901.72 Credits 24492.35 Debits -20945.90 Closing Balance 5448.17 Change in Bank Balance (Closing Balance – Opening Balance) 3546.45 Low Cash Turnover (LCT) Account (6872 Account)4 Bank Opening Balance 497.87 Credits 35.00 Debits -519.78 Closing Balance 13.09 Change in Bank Balance (Closing Balance – Opening Balance) -484.78 Cash Opening Balance 541.26 Credits 5159.38 Debits -5110.20 Closing Balance 590.44 Change in Cash Balance (Closing Balance – Opening Balance) 49.18 Change in Worth (Closing Balance [Bank + Cash] – Opening Balance [Bank + Cash]) -435.60	31 Mar 22 7879.12 5611.26 -4414.53
	9075.85 1196.73 22.20 226.35 -210.00
	38.55 16.35 1213.08 799.04 14655.95 -13563.27
	1901.72 1102.68 710.55 451.10 -663.78
	497.87 -212.68 691.02 1403.74 -1553.50
	541.26 -149.76 -362.44

A Full Summary of the HCT Financial Activity is given on Page 9.

A Full Summary of the LCT Financial Activity is given on Pages 10 - 11.

PART 2 – LIQUIDITY STATEMENT

PART 2 – LIQUIDITY STATEMENT
31 Mar 23 ASSETS AS AT 31 MAR 23 Bank Balance (2029 Account) 6865.93 Cash Holdings (Main Account) 80.36 Additional Assets Total Main Account Assets as at 31 Mar 23 6946.29 GROUP ASSETS AS AT 31 MAR 23 HCT Groups (151 Bank Account) 5448.17 HCT Groups (Cash Holdings) 0.00 LCT Groups (6871 Bank Account) 13.09 LCT Groups(Cash Holdings) 590.44 Total Group Assets as at 31 Mar 23 6051.70 Total Cam, Dursley and District U3A Assets as at 31 Mar 23 12997.99	31 Mar 22 9075.85 38.55
	9114.40 1901.72 0.00 497.87 541.26
	2940.85 12055.25

PART 3 - OVERALL SUMMARY OF HCT ACCOUNT FINANCIAL ACTIVITY FY 22/23

Group Name	Opening Balance	Income	Outgoings	Closing Balance	Comments
Science and Engineering (SAE)	332.54	2819.80	-2863.15	289.19
Theatre(THG)	553.52	5540.40	-5199.45	894.47
Historic Places(HPL)	375.78	12647.45	-11036.38	1986.85
Church Explorers(CHX)	18.07		-18.07	0.00	GroupClosed. Balance moved to Main Account
Gardening (GRD)	573.96	2852.50	-1179.00	2247.46
U3A August Outing (AUGUST)	-0.30	0.30		0.00	Groupmoved to Main Account
Members On Their Own(MOTO)	45.20		-15.00	30.20
Concert CON)	2.95	576.85	-579.80	0.00	GroupClosed. Balance moved to Main Account
Miscellaneous(MISC)	0.00			0.00
Suspense (SUSP)	0.00	55.05	-55.05	0.00
Totals	1901.72	24492.35	-20945.90	5448.17

PART 4 - DETAILED SUMMARY OF LCT GROUPS FINANCIAL ACTIVITY FY 22/23

Group Name		BANK	BANK			CASH	CASH
	Opening Balance	Income	Outgoings	Closing Balance	Opening Balance	Income	Outgoings	Closing Balance
Core Sub-Account (CORE)	323.78		-323.78	0.00		0.00	0.00	0.00
Acoustic Guitar (ACG)				0.00	1.00	184.00	-181.00	4.00
Art History (ARH)	60.00	30.00	-81.00	9.00	46.75	277.00	-229.00	94.75
Badminton (BDM)				0.00	21.03	1092.55	-1106.80	6.78
Bridge (BRD)	114.09	5.00	-115.00	4.09	55.26	1387.32	-1399.11	43.47
Chapter IV (B04)				0.00	4.00	193.10	-180.00	17.10
Craft & Textile (C&T)				0.00	19.00	249.00	-208.29	59.71
Dowsing for Beginners (DOW)				0.00	4.71	313.39	-188.00	130.10
Family History (FAH)				0.00	82.00	90.00	-121.00	51.00
French Intermediate (FRI)				0.00	73.35	150.00	-203.03	20.32
IT Help (LCT)				0.00	61.10	101.00	-117.00	45.10
Kurling (KUR)				0.00	34.79	505.02	-521.74	18.07
Natural History (NAH)				0.00	115.97	143.00	-228.61	30.36
Play Reading (PLR)				0.00	-11.00	59.00	-32.00	16.00
Travel (TRV)				0.00	33.30	207.00	-223.62	16.68
Writers Workshop (WWK)				0.00		108.00	-80.00	28.00
Whist (WHT)				0.00		100.00	-91.00	9.00
	497.87	35.00	-519.78	13.09	541.26	5159.38	-5110.20	590.44

PART 5 -– OVERALL SUMMARY OF LCT GROUPS FINANCIAL POSITION AS AT 31st MARCH 2023

Group	Closing Balance (Bank)	Closing Balance (Cash)	Total Assets	Comments
Core Sub-Account (CORE)			0.00	Opening Balance of £323.78p moved to Main Account
Acoustic Guitar (ACG)		4.00	4.00
Art History (ARH)	9.00	94.75	103.75
Badminton (BDM)		6.78	6.78
Bridge (BRD)	4.09	43.47	47.56
Chapter IV (B04)		17.10	17.10
Craft & Textile (C&T)		59.71	59.71
Dowsing for Beginners (DOW)		130.10	130.10
Family History (FAH)		51.00	51.00
French Intermediate (FRI)		20.32	20.32
IT Help (LCT)		45.10	45.10
Kurling (KUR)		18.07	18.07
Natural History (NAH)		30.36	30.36
Play Reading (PLR)		16.00	16.00
Travel (TRV)		16.68	16.68
Writers Workshop (WWK)		28.00	28.00
Whist (WHT)		9.00	9.00	New Group – started in Jan 23
Totals	13.09	590.44	603.53