Treasury Report April 2023

This might be the tedious bit you’d normally skip past but it you stick with me I’ll shed some light on our finances and share what I’ve learned since taking over as Treasurer. First up is an overview of last year’s actual figures and the budget for this year.

The membership fee is kept low to encourage participation but as you can see this does not cover the normal running costs of the Cadet Class. Volunteers do nearly everything but we must still insure the class, host a website, maintain a rib, provide online booking systems etc. This means we must make small profits on the events to keep everything ticking over. Those who compete the most therefore contribute the most which feels fair.

We are fortunate that the RYA continue to support our winter training programme and Mark has done a great job delivering this on budget. Hosting the Europeans last year was a very welcome windfall to offset some loss-making events but we don’t have anything equivalent until the 2024 Worlds in Plymouth.

The RYA no longer funds the World team but the Class has continued to make a contribution

towards coaching.

We are budgeting a small surplus this year which gives us a contingency that will hopefully be available to reinvest in encouraging more kids into Cadets. Whilst our annual finances are finely balanced, we are fortunate to also be carrying forward cash reserves.

If you have any questions then please get in touch.

Phil

treasurer@cadetclass.org.uk

Next time: What does it cost to run an event?