TREASURER’S REPORT - 2024
| Opening Balance 1stApril 2023 | £15,759.76 |
|---|---|
| Income (1/4/23 – 31/3/24) | £6,680.45 |
| Expenditure (1/4/23 – 31/3/24) | £3,037.13 |
| Closing Balance 31stMarch 2024 | £19,463.08 |
The closing balance includes the sum of £1.15 which has been sitting in a First Trust Select Account (separate from the Current Account).
The closing balance also includes cash that is being held by the Treasurer but which hasn’t been paid into the Bank Account. Full details of cash held and used for expenditure have been set out in the accounts.
We have been having real difficulties with our bank account due to the fact that we didn’t have full control of the bank account following the change of personnel. Despite the fact that there was a new Chair and Treasurer, the mandate hadn’t been changed, so we were relying on old signatories to sign cheques when necessary as we looked into changing our Charity Bank Account.
AIB’s closest branch is Newry, so we initially looked at changing bank accounts to use a bank with a branch closer to us. We identified Ulster Bank as having the most appropriate account but before we opened that account, felt that it would be simpler to change the mandate of the old account as by that time, we had accumulated a lot of cash that we weren’t able to pay cash into the AIB account. Changing the mandate has proved more difficult than we imagined and it has still not been achieved to date. Hopefully this will be rectified soon, as the mandate was recently returned to the Chairperson with recommendations on how to complete correctly.
I could not pay cash into our AIB account via the Post Office because I did not hold a bank card for the account and they require a bank card to pay large amounts of coins and cash to a Charity account. I retained the money at my home and will pay the balance in as soon as I am issued with a bank card by AIB. Until the mandate change is accepted, I can’t do that.
Whilst we were in possession of cash and with difficulties accessing money in our Charity Bank Account, we used cash reserves to meet some of the demands on our finances and ensured that receipts were obtained each time cash was used. All the demands on our finances were approved by the committee and receipts have been obtained. Whilst it is far from ideal, it is the best that we could do in the circumstances. As Treasurer, I kept the Committee informed about
the amount of money that we held in cash and what had been paid out from our cash reserves. I have accounted for what is held in cash separately in the accounts.
Money was raised from an Easter raffle, from the Asda Foundation, a Steps Challenge, a Street Collection, fundraising from Santa’s Grotto, the Christmas Raffle, the Valentines Disco and a Bonus Ball competition. We also raised money from Amazon and the Charities Trust.
We used the money to pay for Charity Bank Charges, Transport Training for drivers of the school Mini bus, Insurance costs of the school Mini bus, raffle expenses, refreshments at Santa’s Grotto, Selection Boxes for school pupils, presents for the school leavers, Valentine disco refreshments, we paid for the DJ of the Valentine Disco, we paid for items for the Life Skills Room on the Castlewellan site, for decorative items for the Valentines Disco and for Easter Eggs for the pupils of the school. We also purchased a Sum Up Card Reader to enable us to take card payments.
These accounts have been delayed due to the fact that bank statements for 2 months could not been located. They were sent to me as Treasurer on 25[th] February 2026 and the accounts have been finalised today.
Lucy Burns
Treasurer
Knockevin PSA
25/2/26