Finances:
As you will know, we are now in the middle of our main membership renewal period. Our success with renewals and the ongoing membership drive, will largely govern our financial position over the next year. Other income streams whilst promising do not at present contribute a great deal.
The trust bank account balance today stands at £2746.43, we have cheques to pay of £462.45, leaving a balance of £2283.98.
The balance at the Vernon building society rainy day fund now stands at £53891.58. As explained previously, we, the trust, still owe over £6000 to the RDF for monies `borrowed` mainly to pay legal fees. I intend to continue to run a tight ship on expenditure in order to pay off a further amount against this in the months ahead. The £10000 loan to the trust by our anonymous benefactor is of course still outstanding with no repayment commitments.
I am having a meeting with the auditors shortly to finalize the overdue 2005 accounts. I want then to move on to the 2006 accounts with the new auditors.
The current newsletter costs are still to be finalized but are likely to be largely offset by the sponsorship and advertising obtained particularly from Parfetts. We will however need to look again at costs when we come to do the next newsletter and support from members would be appreciated.