May 2018

Here is the treasurers summary for May 2018

May Finance Update

Total cash on hand Current Account £1023.59 (at May 2nd) Total monies in savings : Savings: £2027.63

Total Income £1169.95 Total Expenses = £1216.44

Total subscribing members = 79 - Up Five as Aprils Finance Meeting. Avg member subs = £15.29 - up from 15.11 at Aprils Finance Meeting - This will change next months MUD figure, which will be released at the June finace update meeting - Second Tuesday of the month - June 12th

Official Months Until Doom for May 2018 = 7

Months till doom factors - April 2017 banking of 546, coupled with increase rent rolling over - more frequent banking of funds will even out the bouncy numbers.

Last months ancillary costs = None - we did not spend any money on tools, tuckshop, or for any other purpose. This was helped by member donation of workshop consumables, and companie house fee

Tuck Shop Details - 57 Taken from space in April, with more to appear on Mays statement due to AGM being late in the month of April and cash not removed from space until May.

Upcoming costs - Insurance will be due in august, circa £400

Accounting provision for future predicted costs - This cannot be done yet, as we are in decifit. Once we are back in the black (More members is the only way to do this, we cannot get rent down, but I shall fight any further increases)

Items Taken Care Of - CS01 form has been submitted. TS01 form submitted for deans vacating of position.

Addendum: It was highlighted that So Make It has a Paypal account, for which access was not handed over. Since investigating, I can see the Paypal payments, and bank withdrawals, so it does not change our financial reporting. I now have access to Paypal email, and am working with Paypal to get company access.

It has been proposed that we cap ring fenced funds to sensible levels. We are looking at those values at the moment (How much would it be to buy a new laser, or replace the main board and gas tube on the existing machine). And the treasurer will present a case either way for the July finance meeting.

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