GENERAL TREASURER’S REPORT

I have pleasure in presenting my report and accounts to of the Central Fund and Central Fund Reserve Account for the year ended 31st December 1997.

The Central Funds’ income has decreased but expenses have increased resulting in an overall loss on the Central Fund for 1997. Our major expense is the Guild report and, even with the income received from advertising, sales and peal fees is taken into account, this shows an increase in net cost to the Central Fund of £174. The secretarial expenses for the year show a £217 increase of which £93 was recovered from the Diocese of Winchester ( in respect of travel to the Channel Islands District ADM). The costs of disseminating information to Guild members is high and will continue increasing. All trophies and cups that we were notified about have now been included on the Guild’s All Risk policy and the District secretaries were all notified by way of confirmation as to what had been included. Whilst we have seen an increase in the premium for 1997 this is for part of the year, the full impact will be felt in 1998. The overall increase in expenditure will greatly deplete our reserves and efforts will need to be made to replenish our funds.

The adjustment to the 1996 figures is due to the Isle of Wight calculating the BRF element of the subscriptions at £2 instead of £1.50.

Late in 1997 it was agreed by your Executive Committee that £741 would be spent on by the Guild on leaflets as part of the “Ring in 2000” initiative. Further funding for other methods of recruiting members was also discussed and full particulars would be presented to the March 1998 Executive meeting.

District subscriptions received in 1997 were as follows:-

Total financial assets held by the Guild are as follows:-