RADIAL - raibc

4.2 Treasurers and External Examiners report - Dr Andrew
Thomas – G8GNI / M5AEX
Treasurers Report for year ending 31 st March 2010
My focus again for this year was to ensure that the charity
income and expenditure were fully transparent, that all
expenditure was authorised and that we had the minimum of
missing receipts. We did have a few receipts go missing, but
these accounted for less than 3% of our annual transactions.
The accounts have been audited by David Rose, an independent
examiner. He has signed off the accounts and has made no
adverse comments, nor recommendations for change. Indeed,
in his covering letter he states: “Once again, although there are
missing receipts your accounting procedures in authorising all
payment and having two signatories for all cheques drawn
means that this has no significant impact on the veracity or
otherwise of the accounts and I am happy to enclose the
report”.
We began the year with financial assets of £178,273.02, ending
the year with 180,472.67 (1% up on the previous year).
£164,329.19 of this (91%) is held in interest bearing accounts;
the remainder is in our bank accounts and PayPal account for
day-to-day working.
Excluding bank refunds on unauthorised direct debits our total
income for the year was £26,066.44, up just under £5,000 on
the previous year. This was primarily made up of rally and
equipment sales, donations and membership subscriptions.
Equipment sales and rally income made up a very considerable
portion of the charity’s income - £13,631.48 (52%) – a very big
thank you to everyone involved. The charity also continued to
attract substantial levels of donations – this year totalling
17