Our AGM was held on Wednesday 25 May at 2pm at Towcestrians Rugby Club. Some important questions were raised, to which Carol has given the following answers:
- Why was room hire more in 2022 than in 2021?
Answer: In 2021 we hired a room 3 times. In 2022 we hired a room 5 times. The cost of storing our equipment at Towcestrians has increased.
2. I have grouped these 3 similar questions together
As the group finances are healthy, I am puzzled why the subscription needs to be increased
Please justify the subscription increase.
Our current assets are nearly £14,000. How can we justify increasing the subscription by 25%? How is this explained or justified? Where is the need to increase assets? If anything, the subscription should be reduced or kept at the current level. How would this figure be justified if the Charity Commission should ask, I apologise but this is something I have questioned for a long time?
Answer: First No apology is necessary. The purpose of having an AGM and circulating material in advance is so that members have the opportunity to raise and ask questions.
This is a good thing and healthy for the organisation as it gives us a chance to address these issues.
It sounds as if the question is historical which indeed our assets are. We had similar assets when I became chair 3 years ago. However, the situation is now very different. We were able to reduce subscriptions last year to £10 and this year’s subscription is the pre-pandemic subscription of £16.
In the last few months we have seen unprecedented rises in our outgoings. Subscriptions to TAT, room hire, speaker costs, transport costs etc., etc. With inflation currently approaching 10% the current subscription of £16 (agreed a year ago) may not be sufficient to cover our costs, with the shortfall coming out of our reserves. It is not possible to predict what inflation will be in 2023/24 but we estimate the rise to £20 may only just be enough to cover costs with again the shortfall coming out of our reserves. The committee is taking a cautious approach. Other u3as in the region are asking for similar increases. Some u3as are now financially challenged following the pandemic and are closing or merging. We are extremely grateful to Terry Goldfinch whose cautious but firm approach has guided us through these difficult times.
The formal business was followed by an entertaining talk entitled Death in the Garden presentation by Michael Brown, who a look at how poisonous plants have been used over the centuries to remove unwanted persons, to use as aphrodisiacs or for pest control, and as a means to foretell the future.