[Committee] Treasure

[Raftery, John]

Hi guys and Emma, brilliant news about the weekend away! The place cost £1,500 (not £1,800 as we thought), AND we get £200 back from that in VAT! AND we raised £1,500, meaning that we only lost £160! (The food was about £360) Praise God for that! We thought we had made a massive loss.

I was writing a financial report in response to the email from the SCC chair, and thought it might be helpful for you all to see where we stand financially. Here's a figure for you to think about - £1555. If my calculations are correct (always wanted to say that), that's how much we'd need to raise by the summer to get back to the financial situation we were in at the start of the year (given that we manage to get another 34 members for a total of 60). The reason we're facing this big short fall is a dramatic drop in donations from UCCF - we can only expect £10 a month from them. So we're not out of the woods yet, but actually we already have everything we need in Christ.


Financial Report for 01/08/2009 - 25/11/2009:

We began the year with £2,430.81.

Income:
Our income falls into these categories: grant, the IC Trust, donations from UCCF (Universities and Colleges Christian Fellowship), and payment from our members for the weekend away (6th-8th of November).
We have currently raised 43.3% of our membership (26 of 60 full members), thus getting us £113.10 in grant and £104.40 in subscriptions (our membership is currently at £5). A total of £217.50.
The IC Trust has awarded us £250 retrospectively for the carol service we put on in December 2008.
We have received £40 from UCCF.
Our members have given £1,500 towards the weekend away.

Expenses:
Our expenses fall into these categories: the jazz night in fresher's week, food for regular events, the weekend away.
The jazz night cost £231.19.
Food for regular events comes to roughly £50.
Our weekend away cost about £1,660 (the net price of the accommodation was £1,300 and we spend about £360 on food).

This means that we currently have roughly £2,430.81 + £217.50 + £250 + £40 + £1,500 - £231.19 - £50 - £1,660 = £2,497.12

Future expenses:
We are planning another carol service for 17/12/2009 which we expect to cost £600.
I estimate that food for regular events will cost another £220.
We are donating £270 to a Christian Union in Mali.
The other main expense of the year is the mission week which will be the last week of January. The cost for this is not yet fixed, but we can estimate the grounds hire to cost £500, the food to cost £125 (as last year), publicity to cost £100 and speakers to cost £100. This would bring the cost to £825.

These expenses would bring our bank balance down to £2,497.12 - £600 - £220 - £270 - £825 = £582.12

Future income:
We hope to recuperate some of our losses by raising more members, encouraging our members to donate to the Christian Union, and also by asking past CU members for contributions.
If we managed to get 60 full members, this would give us an extra £147.90 in grant and about £115 in subscriptions, a total of £262.90.
To get back to having £2400 for next year, we would need to raise another £2400 - £582.12 - £262.90 = £1554.98.

End of Financial Report


Can anyone see if I missed anything off? Is my calculator working?

God bless,
John
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