Treasurer’s Report
For October 2019- September 2020
This year was a challenging year for the badminton operations of the club due to the outbreak of the coronavirus. The Committee decided, for the health and wellbeing of our members, to suspend play in March 2020 and due to government restrictions, play did not recommence for the remainder of the year.
Due to the suspension in play the Committee made a decision to carry over a credit of $82.50 per member (for fully paid up members) from the $120 2020 Season 1 match fee against the Season 1 2021 match fee to represent the games that members had paid for but didn’t get to play.
Financially this was a very hard year for us as we had most of our usual overhead expenses but no income to cover them. Fortunately, we received help in the form of $1,000 as a government grant from the Department of Jobs, Precincts and Regions in June 2020 and a further $500 from the same department in September 2020.
We also received a refund of our Badminton Victoria Insurance (this didn’t credit the bank until 21st October 2020 and so will be formally reported in the 2021 Financial Report).
This year the Club made an operating surplus of $1,799. When adjusting for the $3,630 credit for unplayed matches that will be carried forward to next year this is a real loss of ($1,831).
The main details are as follows:
Income:
Total income was $6,995 (last year $14,298).
Match fees were lower this year at $5,400 (last year $11,780). The income represents a whole season of match fees but $3,630 of this will be carried forward to Season 1 of 2021 as a credit meaning that the match fee income was really only $1,770.
Fundraising consists of the two government grants totalling $1,500. No other fundraising events were held during the year.
Expenditures:
– Court Hire $2,383 (last year $7,411)
– Admin $428 (last year $594)
– Refreshments $250 (last year $450)
– Cards and Gifts $150 (last year $100)
– Trophies $469 (last year $536)
– Registration & Insurance Badminton Victoria $890 (last year $875), as detailed above this was refunded in October 2021.
– Expenditure on Shuttles of $543 (last year $1,900). The $543 includes a refund of $500 from a deposit paid in 2019. The real cost of shuttles for the year was $1,043.
Funds in Bank:
At the end of year the balance was $7,923.
Funds in the bank at the start of the year was $6,124.
2021 Outlook
We start 2021 in the new Nunawading Community Hub stadium. As notified to members in early 2020 the court hire rates in the new stadium will increase. We surveyed members earlier in 2020 to assess whether they would prefer to move to a new stadium or cover this cost increase with a small increase in match fees and most members indicated that they were comfortable with a small increase in match fees. We propose a further survey of members towards the end of Season 1 2021 to see if members are happy with the new stadium and, if so, we will be proposing a match fee increase from $120 per season ($7.75 per game) to $130 per season ($8.13) per game.
Full details of our financials and comparison with previous years are available from the Secretary or can be seen here.
Michelle Jackson
Treasurer