Havant U3A – Treasurers Report for AGM 2022
Our tenth-year membership recovered well from the pandemic and peaked at 280 including many new members. The main source of income was 2021/22 subscriptions and the gift aid recovered from the previous year. Group payments came in, the groups are self-supporting, so all this money was for group meetings. Event and trip money came in, for these activities. Regular expenditure was capitation payments to the U3A Trust, magazine mailing costs, licences and the cost of monthly meetings.
There was a spend of £578 in August 2021 for a delayed event that should have taken place in June or July 2021. The other significant item of expenditure was the 10[th] Anniversary event (free to members and prospective members) which is expected to cost around £430 when the venue hire bill comes in. Otherwise, we broke even.
At the financial year end (31st July 2022), the total balance held was £5164.66. £534.19 of this balance is from surpluses on social activities and is to be used for running social events rather than the general running of the U3A. A further £1273.83 has been rolled over from last year by the activity groups and is ring fenced for them. Unrestricted funds are £3356.64.
Membership fees
The Committee have reviewed income and expected expenditure and will review it again next year. Our costs are expected to rise this year but we have more than enough in reserve (see below) so we can hold our membership subscription for 2022/23 at £15 for full members and £10 for associate members.
Reserves Policy
The Executive Committee have set a policy to maintain a balance on “unrestricted funds” (if possible) that equates to twelve months of operational costs. The surplus will allow Havant U3A to honour its obligations even if the membership was severely reduced and some of the existing groups folded. Havant U3A would still have to pay speakers, capitation, hall hire, expenses, U3A News, licences, equipment maintenance and carry a working float.
Risk Assessments
Risk assessments continue to be undertaken to identify major risks and appropriate procedures are put in place to manage those risks and minimise their impact. The committee and convenors have taken on board advice from the Government and the Third Age Trust to minimise risk.
Havant U3A Register8d Charity 1188205 Annual Accounts 2021-22 Summary statement Last Yvdr INCOME 2.905. IAEMBERSHIP SUBSCRIPTIONS visrroRS FEES GROUP PAYMElffS- BUILDING HIRE &4NK INTEREST INVESTFAENT IREsT DONATIONS I GRANTS ACTIVITIES I TRIPS CHRISTMAS PARTY GROUP PAYklEHfs. SPEAKERS & AcnvmES TAX RECOVERED OTHER INCOME 4,120.C(I 3.379.(Al 4.793. 21.(K> O.(M) 170.(MJ i.nO.50 370_43 270.00 o.IK> 7.010.84 12.714.53 EXPENDITURE U3A TRUST k4EMBERSHIP wAT Moffty GENERAL klEEfiNG HALL HIRE GROUPS- HIRE OF BUILDINGS LINE DANCE TUTOR INSURANCE U3A NEWS DIRECT lL TRUSTEE EXPENSES ACTIVITIES I TRIPS CHRISTMAS PARTIES GROUPS. SPEAKERS & ACTIWnES BEACON UCENCE Do1N LICEKfE ZOOM LICENCE STATIERy1 PFVJTLKOPMNG ILth E¥6 EQUIPMENT TEAS I RÉFRESHMENTS SPEAKER EXPENSES (GENERAL MEEnN(l OTFER EXPENDITURE 1047.50 1.076.IX) 595.70 1356.Y1 3J30. 516.20 I9.00 535.06 121_ 1.768.00 YJ9.92 154.38 65.LKJ 246. 18.00 172.68 352.84 172.68 336.74 700.75 1.670.33 61.47 5.709.75 13.652.27 4.864.53 6.102.40 6.102.40 5.164ffj6 r¢ rwa Anal is of funds 5.562.79 539.61 GgnÈral Fund 4,630.47 534.19 6.102.40 5.164.66 Approv¥1 by Ihe Tnthesori {IplLL