Index:
FINANCIAL REVIEW
The Society’s unrestricted income last year amounted to £6,759 and total expenditure to £4,382, including expenses paid to trustees of £14.40, which resulted in a surplus for the year of £2,377 compared with a surplus last year of £3,004. Interest decreased to £ 141 but unrestricted donations increased by £284, plus an additional £310 for the proposed bicycle rack in the Grange Gardens in memory of Elisabeth Howard. The Society’s plans for project expenditure this year have been frustrated because of the need for cooperation with other bodies. However, the Society and the Town Council have recently applied for a grant from Biffaward to part fund the renovation of the “Magic Circle”. The Society has allocated £2,000 towards this project and £2,600 to the Howard memorial referred to above.
At the end of the year the total financial assets amounted to £25,906. A balance of about £2,000 is needed to manage the day to day expenditure, leaving year-end reserves of nearly £24,000. The Society holds reserves in order that it can provide firm funding for projects which meet the Society’s overall objectives, without having to make an appeal first.
The subscriptions received this year, which decreased by £ 336, just covered the core costs of operating the Society leaving nothing for additional project expenditure. However printing and postage costs continue to increase and for this reason we are hoping that as many members as possible sign up to receive newsletters etc. by e-mail. Nevertheless the Society is reviewing subscription levels partly because it wishes to support the newly formed national Civic Society Initiative (which has replaced the Civic Trust) and partly to provide additional funds for project expenditure.
The Society continues to manage a ‘restricted fund’ for the Lewes Library Friends, which is held in a separate deposit account. The value of the fund rose during the year from ££8,638 to £8,692 by the interest paid on the account. There was no expenditure on library projects, which the Society generally support on the recommendation of the Library Friends committee.
PLANS FOR FUTURE PERIODS
Whilst the Society aspires to be more pro-active in pursuing its objectives in the future the extent to which it can do so will continue to be determined by both the human and financial resources available to it. Within these constraints it will continue to take a professional and independent approach to the issues facing the town whilst endeavouring to explain through better publicity what it does to townsfolk as a whole. Promoting or financially assisting more projects which enhance the townscape of Lewes is something the Society would like to do if it had more funds. Raising the membership subscription will bring in some additional income for this but further legacies would also be welcome. Members are therefore encouraged to leave the Society a legacy which, bearing in mind the Society’s charitable status, would reduce their inheritance tax liability.
Approved by the Executive Committee on 27th January 2010 and signed on their behalf by
Robert Cheesman, Chairman |
