OUR FINANCES – SEPTEMBER 2020
David Stanton, our Treasurer, reports on the Association’s finances for the year ending 29 February 2020. The accounts and balance sheet are attached:-
PHRA has continued in the same good health financially in the 2019-20 year as in the previous year. Our income at £6,260 – was £14 higher than in the previous year. We’ve seen a further drop in membership numbers but have compensated for this with an increase in advertising income.
We spent £6,262 – mainly on printing three editions of the Newsletter. In addition, however, we agreed to one exceptional expense this year: we made a £300 contribution to the project to renovate the walled garden in Park Hill Park, which will go ahead shortly. As a result, our income and outgoings balanced almost exactly.
At the end of the year, cash in the bank amounted to £3,362.26 compared with £3,179 a year earlier. This increase reflects an advance payment for advertising in the year 2020 – 21.
I’d like to thank Richard Tweed for his time and effort in auditing our accounts again – it’s very much appreciated.