• Opening Balances, 1 January 2015                             £17,044.53
  • Closing Balances, 31 December 2015                        £20,808.19
  • Increase in funds at bank                                                 £3764.39
2015 2016 2015 2016
Income Budget Expenditure Budget
Administration £1,848.57 £1,800.00
£14,380.36 £14,300.00 Subscriptions £50.00
£9,554.00 £9,500.00 Affiliation fees £1,618.04 £1,500.00
£270.00 £250.00 Donations
£15.57 £10.00 Tax/bank £3.40 £5.00
Equipment £325.88 £0.00
£79.00 External events £1,874.55 £1,000.00
Members expenses £2,185.04 £3,000.00
Officers expenses £317.15 £650.00
£2,426.92 £2,000.00 Web £1,337.89 £500.00
Post Phone £824.00 £300.00
£22.00 £50.00 Publications £233.00 £300.00
£152.50 Room hire £285.50 £700.00
Salary £12,084.00 £12,100.00
£472.00 £500.00 SHA events £1,823.05 £1,500.00
£153.00 £100.00 Goods for sale £8.00
£27,525.35 £26,710.00 Total £24,818 £23,355
 

We have examined the vouchers and bank statements for the financial year 1st January to 31st December 2015. 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.

We feel that the cost of affiliation to Regional Labour parties is inappropriate for Socialist Societies.  Affiliation is based on a notional membership which is in excess of the numbers we actually have in any region. Currently, given that there are 9 regions, the cost of affiliating to all 9 would be prohibitive.

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 £381.54 in our favour which we have not been able to reconcile.

Tom Fitzgerald   David Mattocks

Lay Auditors February 2016

 

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