I have pleasure in presenting my report and accounts of the Central Fund for the year ended 31st December 2018.
Income levels remained steady. Total subscription income from the districts is shown in the table below:
|Alton & Petersfield||696.15||695.45|
|Christchurch & Southampton||900.55||861.35|
|Isle of Wight||611.10||584.00|
In addition to routine income, £886.40 was received in donations towards the cost of the WW1 commemorative volumes and associated costs; costs which will be payable in 2019.
The cost of supplying the Annual Report fell substantially due to the decision to provide copies on request rather than automatically to all members. There were no unusual expenses during the year. As a result, General Fund balances increased by £1,955.42, plus the £886.40 carried forward for the WW1 project. The balance on the Training and Development Fund increased by £148.00. These surpluses allowed £3,000 to be transferred to the Central Reserve Fund. However, some funds will have to be transferred back to the General Fund during 2019 to meet the costs of the WW1 project which are due to be met by the designated donations and up to £1,000 from Guild funds.
Balances held are considered to be sufficient for foreseeable needs. Total financial assets held by the Guild at the year-end were as follows:
|Training and Development Fund||1,046.72||898.62|
|Central Reserve Fund||8,022.07||12,419.52||5,013.76||9,421.29|
27th February 2019