Treasurer’s Report to the AGM
Waiheke Island Choral Society
26 March 2024
2023 was our first fully-functional year since the pandemic.
Our two concerts brought in a nice sum of $3275, and we had a small operating
loss of $230 on the year – slightly more than our loss of $117 in 2022. In
both years we would have earned a small profit if we hadn’t been so supportive
of our community: We always give away the profits of our Christmas concert to
an island charity. In 2023 we donated $880 to the Waiheke Budgeting Service.
A note on a couple of big differences between the 2022 and
2023 numbers:
·
At the 2022 AGM we decided to suspend the annual subscriptions
for that year, since our members hadn’t received much benefit from their subs
in 2020 and 2021. (A few generous singers paid anyway.) That’s why our income
from subs ballooned from $70 to $855 in 2023.
·
Normally our hall hire expenses run at about $900 per annum.
Since we didn’t get started in 2022 until mid-year, we had only half that; plus
the Waiheke Musical Museum didn’t invoice us for the final three months until
February 2023. So we effectively paid for only three months of hall hire in
2022, and fifteen months in 2023.
I recommend that we keep My Green Bookkeeper as our account
reviewer for 2024, and that we maintain our annual subs at $30 per person or $50
per couple.
Mark James, Treasurer
Financial statements
|
|
|
|
|
|
|
|
Waiheke Island
Choral Society Inc.
|
|
|
|
Financial
Performance
|
|
|
|
|
For the year ended
31 December 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023
|
2022
|
|
|
|
|
|
|
|
|
|
|
$
|
$
|
|
Income
|
|
|
|
|
|
|
Annual
subscriptions
|
|
|
855
|
70
|
|
Director's fee
subscriptions
|
|
|
0
|
0
|
|
Donations
|
|
|
|
130
|
130
|
|
Interest
|
|
|
|
146
|
33
|
|
Income from social
events
|
|
|
0
|
0
|
|
Concert Income:
|
|
|
|
|
|
- Potpourri concert
|
|
|
1985
|
|
|
- Christmas concert
|
|
|
1290
|
1017
|
|
Resurgence Support
payment
|
|
|
1200
|
|
|
|
|
|
|
|
Total Income
|
|
|
4406
|
2450
|
|
|
|
|
|
|
|
Expenses
|
|
|
|
|
|
|
Advertising/Stationery/Copying
|
|
60
|
359
|
|
Bank Fees
|
|
|
|
40
|
40
|
|
Association Fees
|
|
|
461
|
421
|
|
Reviewers Fees
|
|
|
255
|
263
|
|
Director's fee
|
|
|
|
0
|
0
|
|
General
|
|
|
|
205
|
77
|
|
Donations to
charities
|
|
|
880
|
646
|
|
Social
|
|
|
|
215
|
160
|
|
Travel
|
|
|
|
0
|
0
|
|
Petty Cash
|
|
|
|
0
|
0
|
|
Hall Hire
|
|
|
|
1196
|
230
|
|
Concert Expenses:
|
|
|
|
|
|
- Potpourri concert
|
|
|
914
|
|
|
- Christmas concert
|
|
|
410
|
371
|
|
|
|
|
|
|
|
Total Expenses
|
|
|
4636
|
2567
|
|
|
|
|
|
|
|
Operating Profit
(-Loss)
|
|
|
-230
|
-117
|
|
|
|
|
|
|
|
Depreciation (from
schedule)
|
|
92
|
100
|
|
|
|
|
|
|
|
Net Surplus
(-Deficit)
|
|
|
-322
|
-217
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Waiheke Island
Choral Society Inc.
|
|
|
|
Financial Position
|
|
|
|
|
As at 31 December
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023
|
2022
|
|
|
|
|
|
|
|
Accumulated Funds
|
|
|
$
|
$
|
|
|
|
|
|
|
|
Balance as at 1
January
|
|
|
21023
|
21240
|
|
Net Surplus
(-Deficit)
|
|
|
-322
|
-216
|
|
|
|
|
|
|
|
Total Funds
Invested
|
|
|
20701
|
21023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invested as
Follows:
|
|
|
|
|
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
ASB Bank General Account
|
|
13654
|
14030
|
|
ASB Bank Reserve
Fund
|
|
|
6174
|
6028
|
|
|
|
|
|
|
|
|
|
|
19828
|
20058
|
|
|
|
|
|
|
|
Less Liabilities
|
|
|
|
|
|
Creditors
|
|
|
|
263
|
263
|
|
|
|
|
|
|
|
Working Capital
|
|
|
19565
|
19796
|
|
|
|
|
|
|
|
Fixed Assets
|
|
|
|
|
|
as per Schedule
|
|
|
1136
|
1228
|
|
|
|
|
|
|
|
Net Assets
|
|
|
|
20701
|
21023
|
|
|
|
|
|
|
|
