Finances - Income and Expense Statement (2018) & Proposed Budget (2019): Rob Burnfield - 2018 AGM

Note 24 October 2018:  The budget presented below was modified at the AGM.  Here is the budget that was accepted.

OTTAWA OUTDOOR CLUB
Income and Expense Statement:  2018 (Actual) and 2019 (Budget)
1 October to 30 September ($)
               
        2018 2019
        Budget Actual Variance (1) Budget
             
Income     9,900 9,238.00 -662.00 13,530
  Membership fees 9,550 9,052.00 -498.00 13,000
    Membership registration (2) 8,200 8,145.00 -55.00 12,100
    Non-member activity fees 1,350 907.00 -443.00 900
  Hospitality   45.00 45.00 0
    Annual Bar-B-Q   45.00 45.00 0
  Rental fees 350 141.00 -209.00 530
    Snowshoes   36.00   30
    Canoes   105.00   500
               
Expense     13,950 10,628.58 3,321.42 13,520
  Administration   1,100 1019.06 80.94 1,370
    Bank fees 30 80.93 -50.93 30
    PayPal fees (3) 460 334.07 125.93 705
    Post Office Box 210 210.18 -0.18 215
    Postage   200 211.32 -11.32 220
    Office supplies   200 182.56 17.44 200
  Insurance (4)   4,700 4069.44 630.56 4,200
  Publicity     600 185.28 414.72 850
    Web hosting 250 185.28 64.72 250
    Advertising / printing 350 0.00 350.00 600
  Hospitality     1,850 1,493.65 356.35 2,300
    Volunteer recognition dinner 650 717.47 -67.47 900
    Annual Bar-B-Q 1,200 776.18 423.82 900
    Special event(s) - 25th anniversary       500
  Group travel subsidies   1,000 469.47 530.53 500
  Training & development   1,250 619.20 630.80 1,000
  Exec meetings & AGM (5)   500 480.95 19.05 500
  Equipment & storage   2,950 2,291.53 658.47 2,800
    Rent for canoe storage (6)   1,800 1,800.00 0.00 2,000
    Canoes and related supplies 800 488.68 311.32 0
    Miscellaneous - procurement & maintenance (7) 350 2.85 347.15 800
               
Net Income $ -4050 -1,390.58 2,659.42 10
           
Reimbursement for equipment to be replaced (8)         1,200

Notes

  1. For Income, a negative Variance indicates that we received less income than budgeted.  For Expense, a negative Variance means that our expenses were higher than budgeted.
  2. Based on a membership fee of $55, about 220 paid memberships, and advertising (which has not been done in recent years).  There were 218 members in 2018.
  3. PayPal fees are 2.9% + $0.30 per transaction.  They apply to all memberships, activity fees, and rentals paid via our website, along with occasional other transactions.  The revenue shown is the gross revenue before PayPal fees are deducted.
  4. Due to a medical insurance claim this past year, our insurance rates were raised.  Ultimately, since the claim was within the deductible, the insurance company deemed it to be "no claim".  It is possible that we might be able to have our insurance rates reduced as a result; this needs to be investigated.
  5. Room rentals and food.
  6. One of our background tasks is reviewing our possibilities for storage locations, so we allocated a small amount of extra money to explore possibilities.
  7. To provide more flexibility for 2019, potential on-going expenses related to the canoeing program were merged  into the "Miscellaneous - procurement & maintenance" category.
  8. One canoe and some related equipment were damaged or lost on a trip.  The executive estimates the value at $1200 (exact amount still to be finalized), to be reimbursed by the trip participants.  This is separate from the regular budgeted income for 2019.