This Treasurer’s Report has been prepared for the Railside Community Garden AGM of February 2023, and covers the period since the previous report (01/01/2022 to 31/01/2023)
The RCG bank account began this reporting period with a balance of £2317.39 as at 01/01/2022 , and closed with a balance o f £2623.76 as at 31/01/2023 . The lowest balance at any point during the year was £392.61. We also maintain a separate small sum of petty cash (£22), therefore the total funds available to be spent at any point and with the agreement of RCG Trustees and Management Committee is £2645.76
During this period our total Expenditure was £3201.39 and our Income was £3507.76
During the earlier half of 2022 our financial transactions were mainly expenditure on electricity, sundry expenses, and capital outlay on a greenhouse; however as in previous years, the second half of the year saw us recoup income from Groundwork London (ENTRUST) who repaid us for our outlay on infrastructure (greenhouse and other items), our membership fees (amount tbc), and two highly successful autumn fundraising/social events. We continue to have a strong working relationship with ENTRUST, and are able to demonstrate necessity and value from the infrastructure that their funds provide to us. We therefore remain in a healthy financial position, however we exercise caution and continue to only spend funds when available to us, or when we know we will be repaid by external parties (eg ENTRUST). We remain mindful of the increased prices of electricity and other associated rising costs that might affect our position and budget accordingly.
Management of our finances is relatively straightforward; our Lloyds Bank account is the single source of truth and contains details of all incomings and outgoings. Membership fees initially come into a PayPal account, but are then transferred into our Lloyds account. All income and outgoings are detailed in our Lloyds Bank account and are available on request.
During 2023 we will continue to operate within our means, but have ambitious plans for further infrastructure projects that will enhance the Garden for the benefit of the community, subject to affordability and/or continued funds being available from external parties.
I submit this report as an accurate reflection of the financial activities of Railside Community Garden for the above period.
Matt Jones
RCG Treasurer