In this post, GDCC Treasurer Alex McKendrick outlines our current financial situation and our expenditure and activities over the past year.
After taking over the role of treasurer in October 2019 we have achieved several things over the year:
- Completing two Mandate Variations on our bank account to transfer signatory status to myself and now several other office bearers. This allows for more flexibility in making payments and in future making changes to the running of the bank account.
- We have moved from a log book of financials to an excel spreadsheet, which now allows us to share our finances more transparently with the community on our website. A finance page has been set up on our website.
- We have completed the process of signing up to Online banking and moving away from cheques and visits to the branch. Again this allows us to be flexible and to pay for things quicker with less hassle.
- The accounts were audited by Sandy Gemmill; he is involved in the GDS Church and has audited us in previous years.
- We have applied for and received money for two grants this year; the first was awarded by the Community Grant Fund for a memorial bench and planting in Dalry Community Park worth over £2000. The next was a grant for £500 from Tesco Bags of Help Community Fund to allow for increased engagement with the local community during the COVID-19 pandemic, items such as printing flyers, posters and a phone have been bought with this money.
- We spent money on a new Christmas Banner which was displayed for the first time at our Christmas Light Event and hopefully will be used in years to come.
Our expected income/expenditure include the CEC grant, public liability insurance, hiring of meeting rooms, costs from the Christmas Lights Event and printing.
We have donated an increased amount to other charities/organisations this year; our traditional donation to the local food banks at Christmas and an extra payment during the COVID-19 lockdown. The costs for our Christmas event in 2020, the cancellation of the Gala Day and reduced hall hire costs means financially we are in a similar position despite this.
In the coming year, we should look to apply for more community grants such as the Woodland Trust trees grant and use our money to continue to try to effectively run the Community Council in a digital way. We do need to complete the reports required of the grants we have been awarded. We do have a fairly large buffer of money as last year we did spend less money than our CEC grant however it should be noted in the previous four years more money was spent than came in. Therefore more money can be spent to use the entire CEC grant and there is potential to reduce our buffer slightly.
We started the 2019-2020 financial year with £901.75 and ended with £994.64 (Excluding a misplayment from CEC of £500), which is a net gain on the previous year of £92.89. Since April we have paid our public liability insurance (£170.14) and made the food bank donation (£144.32), so as of today (29/09/2020) we have a balance of £4576.13, of which £382 is allocated for the Tesco outreach, £2115 is allocated for the Dalry Community Park and £500 for CEC. This is a usable balance of £1579.13. There are a couple of outstanding payments for the outreach and the website of around £200 still to be paid.
This report was given at the GDCC Annual General Meeting on October 5th 2020.