AOC's Financial standing

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durhamsmudger
Posts: 94
Joined: Thu May 31, 2012 2:30 am
Name: Alan Smith

AOC's Financial standing

Postby durhamsmudger » Fri Mar 08, 2013 2:27 pm

Hi
I am a fairly recent member, I joined last year . I was recently sent a copy of the membership list along with a financial statement, so please bear with me , I have the knowledge of the clubs previous financial history & I note there is no planned increase in membership fees at this time, I was wondering why the club as a non profit organisation needs so much cash in the bank (£91k ).

I also saw the comments about the printing of the club Bulletins & other info sent out to members, One of the clubs I belong to is the North East Restoration Club (http://www.n-e-r-c.co.uk/). What they have done in this area is to Email members the Monthly Magazine with the understanding, any member who still wants to receive Paper copies, or members without computer access can still go with this option, There are obvious Archive / info search benefits allied to the paperless option. If you wish I can ask the NERC committee how much they have saved.

I hope this posting is received in the way it is intended 1) to generate member interest in the nuts & bolts ( excuse the pun) of the club operation 2) To encourage others to come up with cost saving ideas
Cheers
Alan

pryantcc
Posts: 75
Joined: Sun Aug 12, 2012 9:35 pm
Name: Paul Ryan

Re: AOC's Financial standing

Postby pryantcc » Sun Mar 10, 2013 9:05 pm

Very good question Alan.
What would we spend it on if we were to reduce the bank balance? Just reduce the membership fee?

I have no doubt that a time will come where electronic communication becomes the established norm in the club, but I think it is a way off as yet. Obviously, the forum users are of the IT capable population, so I'd expect that most of the users here wouldn't mind electronic publications. However, in terms of overall membership, I expect that the preference would still be for hard copy.

Paul.

Mike Wheadon
Posts: 23
Joined: Thu May 24, 2012 4:49 pm
Name: Mike Wheadon

Re: AOC's Financial standing

Postby Mike Wheadon » Thu Mar 28, 2013 8:20 am

Somewhat concerned that there has been no official reasoned reply on this amazing situation.

anthonymcg
Posts: 4
Joined: Wed Oct 17, 2012 10:49 am
Name: Anthony R McGarel-Groves

Re: AOC's Financial standing

Postby anthonymcg » Fri Mar 29, 2013 6:37 pm

Of the £91k shown as cash at the Balance Sheet date 31st Oct 2012: -
1. £50k represents a 'Prudent Reserve' of 1 years normal expenditure
2. £8k is reserved for Membership List (outcome closer to £7k)
3. £7.5k is reserved for Information Technology requirements (likely expenditure closer to £12k)
4. £16.5k is in Section accounts
5. Annual cash flow of the club is such that Members Subscriptions are due (and mainly received) in April but the expenditure takes place steadily throughout the year
6. End of March 2013 net free cash is < £50k!

So sorry to disappoint you ... Subscriptions are not going up for the Membership year commencing on 1st April 2013 but will be reviewed and recommendations made for the period from 1st April 2014 will be made over the next 12 months... they are unlikely to be downwards!

National Treasurer

AAT
Posts: 14
Joined: Tue Jul 03, 2012 12:27 pm
Name: John Fox

Re: AOC's Financial standing

Postby AAT » Sun Mar 31, 2013 9:00 am

I must have been asleep in the AGM when £12k was mentioned as the likely budget for IT. Can you expand on the reasons for this and who is the recipient of the fees involved? Previous IT has always been provided at low or no cost by experienced members. At the AGM a call was made for more transparency in Club affairs. Spending this amount of money is a good place to start. We had been promised an updated website a year ago but nothing seems to have happened. Can the Moderator explain the problems so we can help?

durhamsmudger
Posts: 94
Joined: Thu May 31, 2012 2:30 am
Name: Alan Smith

Re: AOC's Financial standing

Postby durhamsmudger » Wed Aug 21, 2013 8:53 am

Part of the issue here is how do the surplus funds benefit all the AOC Membership when its a world wide organisation?
I think one aspect of the answer to this, is for the AOC to subsidise the Alvis Archives "Bulletins on a Stick" Project & instead of asking for £50, ask for say £10 which will engage a great deal more subscribers & in all probability result in a lot more gross sales ££££s than what would be generated if £50 is the required contribution.
Cheers
Alan

Philip
Posts: 106
Joined: Tue May 22, 2012 6:44 am
Name: Philip Olden

Re: AOC's Financial standing

Postby Philip » Thu Aug 22, 2013 10:33 am

The IT budget was agreed at the board meeting and communicated at the AGM. It's being run by Rob Rowe (Club PRO) with help from the Webmaster, Vice Chairman, Membership Sec, Commercial Officer (myself). the aim is to produce a modern vibrant website which also includes a membership and car database. To do this will require funds - it's a large project which I don't think any member will provide F.O.C. There is an update on this in the latest Bulletin from Rob

paddysteel7
Posts: 23
Joined: Wed Aug 27, 2014 1:13 am
Name: Patrick Steel

Re: AOC's Financial standing

Postby paddysteel7 » Sat Feb 07, 2015 12:18 am

Hi all,
I would like to say the bulletins on a stick would have been cheap at double the price especially if you are looking to restore a car and secondly the membership fee (£40 a year) well 77 pence a week is nothing Especially in a club where most cars are tax and mot exempt. As for the reserves would have to benefit all members equally but I would guess its there for emergencies. Well Done AOC and thanks.
Patrick Steel
Grey Lady, TC108g, TD21 SII, TA 14 Shooting Brake


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