Opening Balances, 1 January 2014 £19,475.50
Closing Balances, 31 December 2014 £17,044.53
Decrease in funds at bank £2430.97
| 2104 | 2015 | 2014 | 2015 | ||
| Income | Budget | Expenditure | Budget | ||
| Administration | £1,670.01 | £1,700.00 | |||
| £14,283.50 | £14,000.00 | Subscriptions | £72.00 | ||
| £9,405.00 | £9,500.00 | Affiliation fees | £1,524.00 | £1,500.00 | |
| £707.00 | £500.00 | Donations | |||
| £17.50 | £10.00 | Tax/bank | £3.60 | £5.00 | |
| Equipment | £0.00 | £0.00 | |||
| External events | £605.26 | £700.00 | |||
| Members expenses | £4,058.89 | £3,000.00 | |||
| Officers expenses | £671.80 | £650.00 | |||
| £1,424.94 | £1,500.00 | Web | £1,066.63 | £3,000.00 | |
| Post Phone | £284.92 | £300.00 | |||
| £55.00 | £50.00 | Publications | £291.00 | £300.00 | |
| £920.00 | Room hire | £1,464.90 | £1,000.00 | ||
| Salary | £16,402.53 | £12,100.00 | |||
| £140.00 | SHA events | £1,347.00 | £1,500.00 | ||
| sundry | £0.00 | ||||
| Consultancy | £0.00 | ||||
| £107.00 | £100.00 | Goods for sale | £0.00 | ||
| £27,059.94 | £25,660.00 | Total | £29,463 | £25,755 | |
We have examined the vouchers and bank statements for the financial year 1st January to 31st December 2014. We have seen all the bank receipts and statements and reviewed income and expenditure over the last three years. We are content that all monies received and expended have been properly paid and accounted for.
The vast majority of payments and receipts are received electronically. The account both captures expenditure as it is incurred and actual expenditure when paid.
As we noted last year members’ expenses have continued to increase. They amounted to £4000 in the last year where in earlier years they were generally around £1000 each year. This largely accounts for the deficit recorded in this year’s accounts. There has not been any significant change in any other area of expenditure. We wish to reinforce the decision made by Central Council in January to amend the Financial Standing Orders that members must get prior approval before incurring expenses which are to be met by the Association.
We are satisfied that the Association’s finances are in good order and accurately reflect the membership and activity. We believe the Association’s reserves are sufficient to give the Council more than six months protection against unforeseen liabilities. There is an accounting discrepancy of £141.61 which we have not been able to reconcile.
Tom Fitzgerald & David Mattocks
Lay Auditors February 2015