Treasurers Report, 5 Sep 2018

Treasurer’s Report
AGM Wednesday 5 September 2018

This report covers the academic year 2017-18. 
Figures are up to date as we currently have them – there are a handful of outstanding figures we need to access, including an Easy2name payment and the Bank of Scotland account balance. 
We also do not have final figures for Culture Fund spend.
Audited accounts are produced for the financial year (6 April – 5 April) as part of our annual submission to the charity regulator and will be shared as soon as they are ready (the submission deadline is the end of the year).

Income and expenditure

Income for the school year 2017-18 is £13,272. Spend is £14,564, although this includes a £4000 Culture Fund, which current invoices show spend of less than £300.
Expenses were £1826.
Income and spend figures are broken down below:

INCOME
ACTIVITY TOTAL (rounded to £)
£1113 Lunchtime cafes
£3462 Edinburgh marathon
£3046 School lottery
£957 Halloween disco
£1444 Christmas café
£785 Pyjama disco
£2313 Summer Fair
£151 Misc

SPEND
ITEM COST (rounded to £)
£6746 Playground quiet space
£589 Edventure playground games
£4000 Annual Culture Fund grant (of which less than £300 is currently accounted for)
£678 Imaginate Festival
£1100 Lagganlia coach hire
£1293 Theme bins
£158 Marathon t-shirts

Bank balances

The bank balance for the Trust account at the end of the school year is £12,555.76.
We also hold £411 in cash.
The process of getting access to the other Parent Council account is still ongoing.  Forms are with Bank of Scotland to add Kate Seymour (Moir) and Richard Smith as signatories and I am expecting (hoping for) a resolution very soon.
Gift aid goes into this account as does the annual Council grant for the Parent Council, so I am expecting it to have a reasonable balance.

The Giving Machine

Due to an error, Giving Machine payments have been going into the school fund throughout this period.  This has now been rectified and these payments will revert to the Trust account from now on.
Payments for the school year totalled £178.89.

Culture Fund

The Parent Council/PSA provides a £4000 grant each academic year through a Cultural Fund to support school trips and groups coming into school for cultural activities.
According to invoices received to date, Culture Fund spend for the last academic year was less than £300 (breakdown of costs below – I don’t have details of which classes did which activities).  I am presuming that there are more invoices to come.  It seems that the Culture Fund is topping up the cost of trips with the majority of funding still coming from the children.  If, once I have all the invoices in, the Culture Fund is still showing a considerable underspend, I would suggest that the full cost of
trips is put against the fund.
Question – Previous meetings have agreed to make additional Culture Fund monies available for trips.  It would be good to understand why this hasn’t happened other than the Imaginate Festival and what the barriers would be to doing more trips this year.

CULTURE FUND BREAKDOWN

• RSNO 360 Live: Heroes and Villains at Usher Hall. Full Cost £430.50. PC/PSA Contribution £178.50
• (outstanding amount after each pupil paid £4)
• The Yard – 3 sessions in January. Full cost £90. PC/PSA Contribution £45 (50%)
• The Yard – 2 sessions in February. Full cost £60. PC/PSA Contribution £30 (50%)
• Din Eidyn Regia Anglorum – Viking reenactors. Full cost £200. PC/PSA Contribution £28.50 (outstanding amount after each pupil paid £3.50)
• TOTAL SPEND £282

Charity reporting

I am currently preparing the financial accounts for 2017-18 as part of our OSCR submission.  These will be shared as soon as they are ready.

WE NEED MORE SPEND!

At risk of sounding like a broken record, we have too much money sitting in the bank account which should be being spent for the benefit of the children.
There is an urgent need to agree some ideas for spend.

I know that parents have shared spend ideas. Previous ideas agreed at meetings but not progressed are:
1. Drama expertise (2 parents are able to offer this directly)
2. Basketball hoop
3. New set of sports tops for Mrs Ramm (at the cross country event last year, our children had to share tops).  I’ve advised Mrs Ramm to order as many tops as she needs but not sure if this has happened.

Kate Moir
September 2018