AGM Minutes and Treasurers report for the AGM 2021.
Treasurer’s Report for year ended 31/12/20
The summary shows the financial position for 2020 plus the previous 2 years’ figures for comparison purposes. I felt this would be helpful as the 2020 results are quite unusual.
The key points to highlight are as follows:
The Group is in a strong financial position, with a balance of £3,591 at the year end 31/12/20, although both income and expenditure are significantly down this year for reasons we are all well aware of.
Our spend for the year was just £646, this includes payment of the hall for the full year, which will be carried forward and used when we resume. There is no insurance cost for 2020, which we usually renew in November, as the cover was extended free of charge by the Quilter’s Guild. It now runs to 28/02/21, and we expect to be updated on the situation regarding renewal at around that time.
Total income was £1770, the major items here are subscriptions - which held up well at £1,160 for the year. Funds were boosted as we received a generous bequest of £500 left to us by our founder Joan Smith. Details of our plans for this will be covered in AOB.