Treasurers Report

2019

As of 30 April 2019 the Westpac bank account had $10,885, the National bank account had $10,500, PayPal $575 and inventory was $388 bringing the total assets to $22,321. However, due to the reduction in membership, it is my sad duty to report our first major loss since I’ve been Treasurer. We suffered a total loss of $1,542 over the last financial year. Expenses have also reduced due to lack of membership; insurance is down by $500 as is the State Association subsidy and postage. However, the biggest other expense is the Australian championship subsidy of $1,500 which is nearly the exact amount of our loss. However, most of the executive and membership realise that the Australian Championships is the greatest membership attracting event.  Every year members who have left the Association return just to participate in these Championships. These Championships are also becoming more expensive to run and so, most believe that this subsidy is an essential expense for the maintenance of the National Association.

The raising of membership fees is an option but it is considered a last option at this point because it will actually have an adverse effect on returning members. The priority should again be the recruitment of new membership and I believe that there is more work to be done in the different Select Selection in creating events and a social atmosphere to attract the family orientated boat owner.

Specific details of membership and accounts can be seen in the AGM2019 ReportsP1.xls file available on the following web address https://drive.google.com/file/d/1Wz6EpQwBu2Bf2ez9yolOSR5MLRvQPy2b/view?usp=sharing

Alan Scott Treasurer