Our club keeps a register of club assets, a bank account and a proper record of all money paid in and out. We keep receipts where available and bank statements, and any credits or debits on the cashbox or the bank accounts are recorded in a folder kept at the club. This folder is available for any member to view during a club meeting.
Every year, we hand it all over to a finance professional (Mike) to audit the books and he produces a report that also goes in the club records. He checks the entries we’ve made and assesses whether the club is being run on proper grounds. We are pleased to say that this year’s accounts have been passed with flying colours.
You can read the report on Saturday but the short version is that the club’s balance grew by nearly £580 to over £1050 (compared to a fall last year due to expenditure). Bear in mind that this includes our free entry day on our club birthday when we still paid for the room. And we’ve been running 1st Wednesday for a year now, which currently makes a small loss each session. Also, the club’s main asset is the game collection (over 400 games), and this is not valued as part of the audit.
In part, we’ve spent less this year than last year, but there has been a clear increase in numbers year on year, and that puts us in a very healthy position. In particular, we have not increased the entry fee at all since the club started over 6 years ago, something to be proud of.
Mike finishes his notes on the report with “6. I am more than happy with how the finances are being run.”. So are we.
Thank you Mike for your time spent on this for the club.