MAFVA Treasurer’s Report 24/25.
BACKGROUND.
This Report is provided by the MAFVA Treasurer for the MAFVA Annual General Meeting scheduled for March 2025. It is an outline of activities undertaken since March 2024 to date.
CHANGES SINCE THE LAST REPORT.
Closing the Nat West Account. In the period some payments continued to the old Nat West despite the efforts of Committee Members and former Treasurer Rod Woodhouse. However, on 9 October 24 the final payment from the old Nat West Account was made and that Account was closed.
Reporting. A Summary of Accounts is made to the bi-monthly MAFVA Committee Meeting. Annex A gives an outline of the MAFVA Account.
Transparency. To enable the Subscriptions Member to pay into the MAFVA Account Colin Knapp has given limited access to the Lloyds Account. This access enables payments to be made by him into the account. To enable independent scrutiny of the MAFVA Account he has unrestricted access to view the bank statement independently of the Treasurer. In addition to ensure further transparency the MAFVA Committee is given a Summary of the Accounts at the bi-monthly MAFVA Committee Meeting. The Treasurer can given access to view the MAFVA Account to all Committee members on request.
INCREASE IN SUBSCRIPTIONS
The MAFVA Account continues to be very buoyant with a surplus each month. (See Annex A) This has been judged by the Committee as sufficient to not require an increase in subscriptions in the immediate future. However, the Committee are cognisant of the possibility of increases in printing and postage costs in the future and are ready to take the appropriate actions to ensure the organisation remains financially viable.
COST SAVINGS
Franking Machine. The use of the franking machine continues to significantly reduce postage costs compared to using stamps. The savings is around £80 for each edition of Tankette that is sent out and this method significantly reduces the burden on the Distribution Member.
Website costs. After discussion at the MAFVA Committee meeting it was decided to renew the Website licence for two years. This has produced a cost saving of around £115.
Tankette print run. The print run for Tankette has historically been too great. This has led to problems in storage and is an unnecessary burden on the MAFVA finances. Ther has been a significant reduction in the print run so that it better matches the number of magazines required and this has resulted in savings.
SUMMARY
The MAFVA Account continues to be very healthy in this financial period (As shown at Annex A.) with a surplus being reported every two months. It is estimated that this buoyancy will continue into the new financial period. However, this is predicated on there being no significant increases in postage and printing costs.
T M COLEMAFVA Treasurer