Sussex Nomads CC AGM Treasurer’s report

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Presentation transcript:

Sussex Nomads CC AGM Treasurer’s report 2017-11 Yuriy Tymchenko

Agenda Treasurer’s update on completed & ongoing activities Club financial 1710A (Actuals) Cash flow breakdown report Q&A

Treasurer’s update on completed & ongoing activities Closing Santander bank account and transferring all operations to Lloyds Business Account. Cheques & cash operations reduced to the minimum. ease of day to day accounting. Improved financial control and reporting. Nomads Account information is in secure IT cloud. It is always up to date. Read access to all SNCC Committee members. Regular club finance update during the Committee Meetings. Automated checker between All Transactions log and Actuals to make sure no missing records, all balanced.

Club financial 1710A (Actuals) As 02/11/2017 Paypal - £832.48 Lloyds bank - £4,182.48 Cash - £100.52 Total: £5,115.48 Development Fund - £186.90 (not separate, but part of Total amount) **************************** Cycling Kit Stock (both GC & Kalas) - £2,231.24

Cash flow breakdown report Membership doesn’t include fees from new members who purchased a shirt (these are included in Clothing). Outgoings are mainly PayPal fees. Clothing Running 2 stocks (£2,231,24 is assets) – Gear Club (£1,359.84) & Kalas (£871.40). Negative Net in £ due to new investment in stocking Kalas cycling kit. No new procurement for GC kit, pricing is lowered down to speed up the sales and clear off the stock. Annual Dinner Loss due to the cost of running the event exceeded the amount of payment by participants.

Cash flow breakdown report Affiliations British Cycling, Surrey Cycle Racing League, SCA (Surrey Cycling Racing League), SERRL (Sussex East Road Racing League), London Women's Racing League, SCCU (Southern Counties Cycling Union) and CTT (Cycling Time Trials) Club Time Trials HTT & TT levies paid of £628. SNCC HTT entry fees of £688. SNCC HTT expenses including winners’ awards, DVH rent, CTT levies etc of £757.50. Club Races Surrey Cycle Racing League 2016 price money cheque of £59.80 - STEPHEN CHINN & STEVE NOAKE

Cash flow breakdown report Trophies & Prices New 2017 Roger Brown Trophy - KC life award Engraving & maintenance cost WHITBOURNE MUGWORK for Nomads Hill TT winners Development fund The committee agreed a while ago to put aside £2 from each membership fee towards the 'Development fund' pot. Raffle Tickets sell - £100.0 Season sponsor for the SCRL, Preston Park Track League - £200.0 World Bicycle Relief charity donation - £700.0 Beanstalk charity donation (Sally's challenge) - £100.0 £50 donated to Helen Codling’s charity as a thank you for organising Hill Climb refreshments.

Cash flow breakdown report Miscellaneous Account operational activities Santander account closure and transfer of funds. Periodic transfer funds from PayPal to Lloyds SNCC business account.